Magna Entertainment Corp. filed this news release as its fourth 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 US 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.
Magna Entertainment Corp. files fourth default status report