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Article Excerpt
AURORA, ON, Sept. 23 /PRNewswire/ -- Magna Entertainment Corp. ("MEC" or the "Company") filed this news release as its eleventh bi-weekly default status report under National Policy 12-203 of the Canadian Securities Administrators, pursuant to which MEC announced that it would not be filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2008, nor would it be filing quarterly reports on Form 10-Q, with the U.S. Securities and Exchange Commission or the Canadian securities regulators during the period it continues to operate its business as a debtor-in-possession under the United States Bankruptcy Code. Since announcing the original notice of default on March 26, 2009, and filing its first default status report on April 7, 2009, its second default status report on April 28, 2009, its...
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