{"id":3776,"date":"2005-12-27T00:00:00","date_gmt":"2005-12-27T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-held-stake-in-mec-court-told-globe-and-mail","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2005\/hedge-fund-held-stake-in-mec-court-told-globe-and-mail.html","title":{"rendered":"Hedge fund held stake in MEC, court told &#8211; Globe and Mail"},"content":{"rendered":"<p>  TORONTO &#8212; The hedge fund that wants MI Developments Inc. to divest its 59-per-cent share of Magna Entertainment Corp. was itself a major shareholder of the racetrack and gambling company before  becoming disillusioned and selling off its stake in 2002, an Ontario Superior Court hearing was told yesterday.<\/p>\n<p>  Nine months after ending an investment in MEC that had been worth about $15-million at its peak, New York hedge fund Greenlight Capital Inc. bought about $100-million worth of shares in MI, even  though it knew the real estate company&#8217;s biggest asset was its holding in MEC, said Kent Thomson, a lawyer for MI.<\/p>\n<p>  <a href=\"http:\/\/www.theglobeandmail.com\/servlet\/ArticleNews\/TPStory\/LAC\/20051224\/RMI24\/TPBusiness\/Canadian\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO &#8212; The hedge fund that wants MI Developments Inc. to divest its 59-per-cent share of Magna Entertainment Corp. was itself a major shareholder of the racetrack and gambling company before becoming disillusioned and selling off its stake in 2002, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3776","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3776"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3776\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}