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Hawthorne Bankruptcy Judge Orders Immediate Release of $800,000 in Unpaid Purses
['T. D. Thornton']
TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions
By T. D. ThorntonThe judge handling the Hawthorne Race Course bankruptcy case has ordered the immediate release of $800,000 in unpaid purse money while establishing a process to determine a final administrative claim of up to $1.1 million.
“The Final Purse Claim shall be memorialized by further order of the Court,” the order stated.
The order stated that those professionals agreed to release $800,000 from that fund.
The order stated that any amount above $800,000 that the ITHA is owed after this disbursement will still be recognized as a high-priority administrative expense claim.
The order explained that Hawthorne can use money generated from its off-track betting (OTB) locations to reimburse the professionals for the $800,000 they released.