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Cordish can press suit against CEO of Indianapolis Downs

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Cordish Co., a real-estate developer building a casino near Baltimore, can pursue a defamation lawsuit against the CEO of its bankrupt former business partner, Indianapolis Downs LLC, a judge said Aug. 26.

Indianapolis Downs owns and operates Indiana Downs race track and Indiana Live! casino near Shelbyville.

U.S. Bankruptcy Judge Brendan Linehan Shannon, in Wilmington, Del., ruled CEO Ross J. Mangano can’t delay a lawsuit against him in Maryland in order to concentrate on reorganizing Indianapolis Downs. The lawsuit, which had temporarily been on hold, can proceed 30 days from now, Shannon said.

“Involving him in this litigation is not going to affect the debtor’s ability” to reorganize, Cordish attorney Kenneth Oestreicher said in court today.

After Indianapolis Downs, based in Shelbyville, filed for bankruptcy in April, Shannon temporarily halted the Cordish litigation against Mangano. That protection is no longer necessary, Shannon said today.

Cordish sued in February, claiming it was defamed by competing casino companies and their executives, including Mangano and horse-track owner Frank Stronach.

Mangano and Stronach allegedly were “part of an ongoing campaign designed to smear, defame and otherwise falsely portray the Cordish Entities for the purpose of harming them economically and influencing both the Maryland State legislature and lottery commission.”

 

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  1. Great article and post scripts by Mike L (Great addition to IBJ BTW). Bobby's stubborn as a mule, and doubt if he ever comes back to IU. But the love he would receive would be enormous. Hope he shows some time, but not counting on it.

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  4. Jim, your "misleading" numbers comment is spot on. This is the spin these posers are putting on it. News flash, fans: these guys lie. They are not publicly traded so no one holds them accountable for anything they say. The TV numbers are so miniscule to begin with any "increase" produces double digit "growth" numbers. It's ridiculous to think that anything these guys have done has awakened the marketplace. What have they done? Consolidate the season so they run more races on consecutive weekends? And this creates "momentum." Is that the same momentum you enjoy when you don't race between August and March? Keep in mind that you are running teams who barely make ends meet ragged over the summer to accomplish this brilliant strategy of avoiding the NFL while you run your season finale at midnight on the East Coast. But I should not obfuscate my own point: any "ratings increase" is exactly what Jim points to - the increased availability of NBC Sports in households. Look fans, I love the sport to but these posers are running it off a cliff. Miles wants to declare victory and then run for Mayor. I could go on and on but bottom line for God's sake don't believe a word they say. Note to Anthony - try doing just a little research instead of reporting what these pretenders say and then offering an "opinion" no more informed than the average fan.

  5. If he's finally planning to do the right thing and resign, why not do it before the election? Waiting until after means what - s special election at tax payer expense? Appointment (by whom?) thus robbing the voters of their chance to choose? Does he accrue some additional financial advantage to waiting, like extra pension payments? What's in it for him? That's the question that needs to be asked.

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