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Retama Park
- Industry: Leisure
Situation
Retama Park, a 250 million dollar Texas-based thoroughbred horse track, defaulted on its obligations of a 100 million dollar tax-free debt.
Action
After filing for Chapter 9 Bankruptcy protection, GGG developed a restructuring plan in order to maintain the track and its future. As part of its plan, GGG restructured 100 million dollars in bond debt and issued newly defeaed bonds.
Results
GGG worked with Retama Park for 18 months and returned the horse park to profitability and financial stability.