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NJMP Chapter 11 Bankruptcy Filing

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#1 megmeyer


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Posted 09 March 2011 - 11:26 PM

We wanted to assure everyone that the track has already confirmed for us that our track deposit is safe, the track will operate as normal this season and our events will proceed as scheduled.

The reality is that bankruptcy filings, while never a “good” thing, are often necessary and actually often result in a better situation in the future. One need only look at the recent bankruptcy filed by General Motors to see an example of a company that emerged stronger after a bankruptcy filing.

We also wanted to contact everyone so that there were no rumors and confusion about the situation. The track is not shutting down and we are still fully set for our season at the track. In fact, the good thing about bankruptcy is that no creditors can interfere with the track’s operation or assets while it is in bankruptcy.

Please also pass the word on to anyone you can. The last thing we want to do is to have competitors, workers, spectators, or even other sanctioning organizations, deciding not to attend events at NJMP because of some inaccurate information about what is really taking place. Please tell anyone you can that NJMP will be operational this year and that nothing will appear any different then before.
SJR Webmaster, Chief of Timing & Scoring

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