Negotiations to continue today in De Francis-Manfuso dispute

December 13, 1993|By Ross Peddicord

Lawyers for the Manfuso brothers and Joe De Francis are scheduled to meet at 2 p.m. today to resume negotiations that could pave the way for one side buying out the other's interests in Laurel and Pimlico race courses.

The proposals on the table involve outstanding litigation, considerations dealing with the Maryland Jockey Club's bid to build a track in Virginia and some monetary particulars that don't pertain to the $8.2 million offer the Manfusos have made to sell their minority interests to De Francis.

De Francis, who is talking with other investors to purchase the Manfusos' shares, said all issues need to be cleared up before the buyout is addressed.

Once a settlement is reached, De Francis has until Jan. 12 to buy the Manfusos' stock or to sell them his shares in the tracks at the same price.

Today's discussions are scheduled to take place at the chambers of Joseph H.H. Kaplan, chief administrative judge of the Baltimore City Circuit Court.

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