The fate of Quebec racetrack operator Attractions Hippiques and its remaining assets may not be settled Monday, after all
.
The company has served notice it intends to request a further 45-day extension of creditor protection, to October 8, on what was supposed to be the final deadline for asset dispersal or a plan of arrangement Monday in Quebec Superior Court.
In a court filing, it said that while the offer to buy the Hippodrome d'Aylmer property had been accepted, the bid for most of Attractions Hippiques' other racing assets had fallen through, because certain conditions were not met.
The lending syndicate also rejected a debt refinancing proposal from the company.
A company affiliated with Attractions Hippiques is now negotiating with the lenders.
Attractions Hippiques has been in creditor protection since June of 2008.
(A Trot Insider exclusive by Paul Delean)