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New Orleans World's Fair files for bankruptcy

The 1984 World's Fair, threatened by a multitude of lawsuits from creditors trying to get back some of their money, filed for protection Tuesday under federal bankruptcy laws.

George Williams, the fair's marketing director, estimated the fair will end up at least $100 million in debt when it closes Sunday. Much of that total is the $55 million put up by backers, plus $27.5 million in state loans or guarantees that will come out of taxpayers' pockets.

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