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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): December 4, 2006
INTERNATIONAL THOROUGHBRED BREEDERS, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-9624 22-2332039
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(State or Other Jurisdiction of (Commission File (IRS Employer
Incorporation) Number) Identification No.)
1105 N. Market Street, Suite 1300
Wilmington, Delaware 19899
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(Address of Principal Executive Office)
Registrant's telephone number, including area code (302) 427-7599
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(Former Name or Former Address, if Changed Since Last Report)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.03(a) Bankruptcy or Receivership
As previously reported, on December 4, 2006, ITG Vegas, Inc. and its debtor
affiliates ITG Palm Beach, LLC, Cruise Holdings I, LLC, Cruise Holdings II, LLC,
Royal Star Entertainment, LLC, Riviera Beach Entertainment, LLC, Orion Casino
Corporation, and International Thoroughbred Gaming Development Corporation,
filed voluntary petitions for relief under Chapter 11 of Title 11 of the United
States Code, 11 U.S.C. Sections 101 et seq., in the United States Bankruptcy
Court for the Southern District of Florida (the "Bankruptcy Court"), Case Number
06-16350-PGH. Debtor affiliates Palm Beach Empress, Inc. and Palm Beach Maritime
Corporation filed their respective petitions on December 6, 2006, and debtor
affiliate International Thoroughbred Breeders, Inc. (the "Registrant") filed its
Chapter 11 petition on December 7, 2006. By order dated December 14, 2006, the
Bankruptcy Court ordered the Registrant's case to be jointly administered, for
procedural purposes only, with the jointly administered cases of ITG Vegas, Inc.
and its debtor affiliates, under Case Number 06-16350-PGH.
On July 23, 2007, pursuant to 11 U.S.C. Section 1104, the Bankruptcy Court
directed the appointment of a Chapter 11 Trustee. On July 27, 2007, the United
States Trustee appointed Mark T. Calvert as Chapter 11 trustee for these
debtors, including the Registrant, and on August 3, 2007, the Bankruptcy Court
entered an order approving the United States Trustee's appointment of Mr.
Calvert as Trustee. A copy of the order approving the appointment of Mr. Calvert
as Trustee is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Document
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99.1 United States Bankruptcy Court Southern District of Florida Order
Approving Selection of Trustee - Case Number 06-16350-PGH.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
INTERNATIONAL THOROUGHBRED BREEDERS, INC.
Date: August 9, 2007 By: /s/ Mark T. Calvert
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Mark T. Calvert
Trustee
EXHIBIT INDEX
Exhibit No. Description
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99.1 United States Bankruptcy Court Southern District of Florida Order
Approving Selection of Trustee - Case Number 06-16350-PGH.
Exhibit 99.1
Case 06-16350-PGH Document 808 Filed 08/03/2007 Page 1 of 2
[GRAPHIC OMITTED]
ORDERED in the Southern District of Florida on August 03, 2007.
/s/ Paul G. Hyman
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Paul G. Hyman, Chief Judge
United States Bankruptcy Court
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UNITED STATES BANKRUPTCY COURT FOR THE
SOUTHERN DISTRICT OF FLORIDA
WEST PALM BEACH DIVISION
www.flsb.uscourts.gov
IN RE: : CHAPTER 11
:
ITG VEGAS, INC. et al., : CASE NO. 06-16350-BKC-PGH
: (Jointly Administered)
Debtors. :
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ORDER APPROVING SELECTION OF TRUSTEE
The United States Trustee, having advised this Court that Mark T. Calvert,
35300 Center Street SE, Snoqualmie, WA 98065, 206-909-3636, has been selected
for appointment by the United States Trustee as the chapter 11 trustee in this
case, and the Court having reviewed and considered the United States Trustee's
Application For Approval Of Appointment Of Chapter 11 Trustee, it is
ORDERED that, pursuant to 11 U.S.C. Section 1104, the appointment of Mark
T. Calvert as chapter 11 trustee is approved, and it is further
Case 06-16350-PGH Document 808 Filed 08/03/2007 Page 2 of 2
ORDERED that the trustee shall have all the powers and duties of a trustee
under 11 U.S.C. Section 1106 and the authority to operate the debtor's business
pursuant to 11 U.S.C. Section 1108. The Trustee shall be responsible for filing
with the Court and submitting to the United States Trustee and the Bankruptcy
Court Clerk all monthly reports required by the United States Trustee and any
other information reasonably necessary to allow the United States Trustee to
administer this case.
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Submitted by:
Heidi A. Feinman
Trial Attorney
U.S. Department of Justice Office of the U.S. Trustee
51 S.W. 51st Ave.
Suite 1204
Miami, FL 33130
(305) 536-7285
(305) 536-7360
heidi.a.feinman@usdoj .gov
copies to:
All Creditors and Interested Parties (By Clerk's Office)