Pursuits
Majestic Star, Milwaukee Archdiocese: Bankruptcy
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Casino operator Majestic Star Casino LLC sued owner Don H. Barden on New Year’s Eve for violating the so-called automatic stay in bankruptcy cases by terminating the company’s status as a qualified subchapter S corporation.
The Dec. 31 complaint explains how Majestic Star’s non-bankrupt parent, Barden Development Inc., elected tax status as a subchapter S corporation in 2005. Bankrupt subsidiary Majestic Star Casino II Inc. was made a qualified subchapter S corporation.