Employees owed money after Attractions Hippiques bankruptcy

The Montreal Gazette reported Thursday that Attractions Hippiques, which at one time operated the four racetracks in Quebec, was declared bankrupt on Wednesday when its proposal to creditors was rejected by the creditors. The story reported that the liquidation of equipment and fixtures at the tracks brought in more than $400,000, but there was nothing remaining for more than 1,000 unsecured creditors, which includes the race secretary at Hippodrome de Montreal and the company’s former vice president of marketing.

 

According to the report, race secretary Benoit Frenette is owed more than $37,000, while the vice president of marketing Antoine Beauvais is owed $50,000. Frenette was quoted as saying he was “very disappointed—not just for me, but for all the industry. I just hope it starts well and better and soon.”

 

Attractions Hippiques proposal to the creditors consisted of an offer to share in any proceeds from an intended lawsuit by the company against Lotto-Quebec and the provincial government. Senator Paul Massicote, the owner of Attractions Hippiques, told the Gazette he still plans to sue the two agencies, but will do so on his own behalf.