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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.

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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.