Archive | Going Concern

“I’VE GOT THE HORSE RIGHT HERE” Condemning a Racetrack By Michael Rikon

The City of Baltimore has commenced eminent domain proceedings to condemn the Preakness Stakes horse race and the Pimlico racetrack.  It seems that the owners were intent on moving the Preakness Race out of the City.  The racetrack is in a rundown condition.  The Maryland Stadium Authority issued a report saying the Pimlico track should be torn down and rebuilt at a cost of $424 million.            Maryland law requires that the track be in Baltimore except for disaster or emergency.  Among the various charges levied is that the owners… read more

Posted in Going Concern, Intangible Property, Racetracks, Uncategorized
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