Metro

Boston Grand Prix assets frozen in bankruptcy case

One of the Boston Grand Prix show cars that wwas auctioned off after plans for the race fell apart.

Craig F. Walker/Globe Staff/2016

One of the Boston Grand Prix show cars that wwas auctioned off after plans for the race fell apart.

A federal judge froze the assets Friday of Boston Grand Prix president John Casey as part of an $11 million bankruptcy case stemming from the collapse of an Indycar race that had been planned for the Seaport District last Labor Day weekend.

The ruling by Judge Joan N. Feeney came after Casey was accused last week in court filings of using the Boston Grand Prix as “his personal piggy.”

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“John Casey spent hundreds of thousands of dollars of Boston Grand Prix’s money for personal expenses without regard for the interests of creditors,” said attorney Kate Cruickshank of the firm Murphy & King, who is representing creditors in the case. “It’s the job of the bankruptcy trustee to recover assets belonging to Boston Grand Prix for all creditors.”

Casey’s attorney, Michael J. Goldberg, did not immediately return a phone message seeking comment.

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In July Boston Grand Prix filed for Chapter 7 bankruptcy, which provides for the liquidation of assets to pay creditors. The company had been besieged by lawsuits since ending its plans for an Indycar race.

Race organizers had originally signed a five-year deal with Mayor Martin J. Walsh’s administration to hold the race in the Seaport District. The race was planned for a 2.2-mile temporary street course around the Boston Convention & Exhibition Center.

The Globe has reported that tickets went on sale in March, but the race was canceled in late April, amid finger-pointing between promoters and the city. Casey accused the city of making unreasonable demands. The city in return said the promoters were disorganized.

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In November, the Globe reported that more than 1,100 Grand Prix racing fans who bought tickets had received refunds totaling roughly $650,000 as part of a deal negotiated by Attorney General Maura Healey’s office.

Andrew Ryan can be reached at acryan@globe.com Follow him on Twitter @globeandrewryan.
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