GARY Z
04-26-2010, 05:52 AM
Here we are all posting about the remaining field, not including
the usual "woulda coulda shoulda" scenarios.
Welcome to Ahmed Zenyata , honorary recepient of the above
named scenario who would have wiped out his current bankruptcy
scenario by selling Zenyata prior or after the Derby with a win,
not to mention breeding rights.
Whatever the feelings about this owner, Hollywood would have a tough
time writing a script on recent events involving Esy and his owner/trainer:
Zayat files for bankruptcy; Monday's bank hearing likely postponed
Monday, April 19, 2010, 4:03:00 AM
Ahmed Zayat, the top Thoroughbred racehorse owner in North America just two years ago, filed for bankruptcy in Newark, N.J., on Wednesday to block a possible bank takeover of his racing stable.
The bankruptcy comes less than a week before a hearing in U.S. District Court in Lexington on a motion by Fifth Third Bank to appoint a receiver for Zayat's 200-plus horse racing stable. Fifth Third alleges Zayat owes the bank more than $34 million after defaulting on a loan.
Because a bankruptcy filing stays all other pending litigation, a hearing Monday on the bank's motion probably will be canceled.
Zayat said he "intends to quickly file a plan of reorganization that will pay claims of creditors over a reasonable period of time as it continues to execute on its sound business plans that have thus far produced stellar racing results and, based on prior performance, will continue to do so."
Last year, Zayat's homebred Pioneerof the Nile finished second in the Kentucky Derby. Zayat finished 2009 as the third leading owner, with earnings of more than $6.3 million. He has two hopefuls for this year's Derby, Esken dereya
the usual "woulda coulda shoulda" scenarios.
Welcome to Ahmed Zenyata , honorary recepient of the above
named scenario who would have wiped out his current bankruptcy
scenario by selling Zenyata prior or after the Derby with a win,
not to mention breeding rights.
Whatever the feelings about this owner, Hollywood would have a tough
time writing a script on recent events involving Esy and his owner/trainer:
Zayat files for bankruptcy; Monday's bank hearing likely postponed
Monday, April 19, 2010, 4:03:00 AM
Ahmed Zayat, the top Thoroughbred racehorse owner in North America just two years ago, filed for bankruptcy in Newark, N.J., on Wednesday to block a possible bank takeover of his racing stable.
The bankruptcy comes less than a week before a hearing in U.S. District Court in Lexington on a motion by Fifth Third Bank to appoint a receiver for Zayat's 200-plus horse racing stable. Fifth Third alleges Zayat owes the bank more than $34 million after defaulting on a loan.
Because a bankruptcy filing stays all other pending litigation, a hearing Monday on the bank's motion probably will be canceled.
Zayat said he "intends to quickly file a plan of reorganization that will pay claims of creditors over a reasonable period of time as it continues to execute on its sound business plans that have thus far produced stellar racing results and, based on prior performance, will continue to do so."
Last year, Zayat's homebred Pioneerof the Nile finished second in the Kentucky Derby. Zayat finished 2009 as the third leading owner, with earnings of more than $6.3 million. He has two hopefuls for this year's Derby, Esken dereya