Bankruptcy judge allows track to borrow $1.2 million

Monday, Feb. 14, 2005 | 9:21 a.m.

VERNON, N.Y. -- A federal bankruptcy judge gave Vernon Downs approval Friday to borrow the $1.2 million the harness track needs to begin racing this season.

The track's parent company, Mid-State Raceway, filed for bankruptcy in August, citing $30 million in debts. The state Racing and Wagering Board suspended the track's racing and simulcasting licenses in July after it was revealed several prize-money checks had bounced.

Mid-State Raceway attorney Lee Woodard said Friday races could resume in April.

"Hopefully, this is a great day for Vernon Downs," Woodard said. "I think this paves the way to get the horses back in operation, get the horsemen winning purses again, and to be ready to get our license in place by racing season."

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