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Gulf Coast Seeks to Have Lien Claim Withdrawn

A Circuit Court judge has scheduled a hearing for March 10 to determine whether Fifth Third Bank must withdraw a lien claim to 20 horses scheduled to be sold next week.

Fifth Third Bank Wins Suit Against Haisfields

Fifth Third Bank has won a $15.4 million judgment against Audrey and Marc Haisfield for defaulting on loans received from the bank on behalf of their Stonewall Farm operation.

Sale of Stonewall Horses Can Go Forward

A federal bankruptcy judge in Lexington on Aug. 19 approved motions that will permit the sale in November of 63 horses owned by Richard and Audrey Haisfield's Stonewall Farm and Stonewall Stallions.

Stonewall Sues Over Stallion Certificates

The issue of turning over stallion certificates has led Stonewall Farm to sue Fifth Third Bank, JPMorgan Chase Bank, and Bluewater Sales in bankruptcy court in Lexington.

Case Closed: Zayat Reorganization Plan OK'd

Ahmed Zayat's Zayat Stables announced July 15 that the United States Bankruptcy Court for the District of New Jersey has approved its Chapter 11 plan of reorganization.

Zayat/Bank Settlement Receives Approval

New Jersey bankruptcy judge makes the ruling that clears the way for Zayat to operate his stable under the terms of a Chapter 11 reorganization plan.

Zayat, Fifth Third Reach Settlement

Prominent Thoroughbred owner Ahmed Zayat and Fifth Third Bank have reached a tentative agreement to settle their ongoing legal dispute.

Fifth Third Ok'd to Proceed With Zayat Case

A federal judge in Lexington has determined that Fifth Third Bank can go forward in attempting to recover debts from Zayat Stables and its Pioneer of the Nile subsidiary.

Receiver Named to Sell Some Stonewall Horses

Under an agreement between the various parties, Bluewater Sales of Lexington has been appointed as receiver to take possession of and sell more than 130 horses owned by Stonewall Stallions and related entities.

Fifth Third Sues Stonewall Stallions

Fifth Third Bank has sued another major equine entity for failure to repay loans, this time taking the action against Stonewall Stallions, farm owner Audrey Haisfield, and other entities.

Fifth Third Seeks Zayat's Personal Records

In the latest round in the legal battle between Fifth Third Bank and Zayat Stables, the bank is seeking to subpoena the personal banking records of Ahmed Zayat to determine if he has used corporate assets for personal use.

Eskendereya to Be Sold Under Zayat Plan

Zayat Stables has agreed to sell all of grade I winner and probable Kentucky Derby favorite Eskendereya this year under a bankruptcy reorganization plan that projects all creditors will be paid in full.

Judge Favors Zayat in Latest Legal Round

A federal bankruptcy judge in New Jersey has refused to certify a motion filed on behalf of Fifth Third Bank alleging that Zayat Stables had defaulted on terms of a cash collateral agreement.

Zayat Refutes Claims by Fifth Third

Attorneys for Ahmed Zayat's Zayat Stables are refuting claims by Fifth Third Bank that the prominent stable violated terms of a cash collateral agreement by withdrawing four horses from a Keeneland sale.

Zayat Seeks Dismissal of Fifth Third Case

Attorneys for Ahmed Zayat have filed a motion requesting that allegations of default against Zayat Stables filed by Fifth Third Bank be dismissed and that the bank pay compensatory and punitive damages, plus other costs.

Zayat Horses in Keeneland April Juvenile Sale

The five 2-year-olds had been purchased at 2009 Keeneland September yearling sale.

Court Approves Zayat, Fifth Third Agreement

An agreement between Zayat Stable and Fifth Third Bank on use of cash collateral funds to continue operations was approved March 8 during a hearing before Judge Donald H. Steckroth in U.S. Bankruptcy Court.

California Clears Zayat on Jelinsky Loans

The California Horse Racing Board has looked into ties between Ahmed Zayat and two convicted bookmakers and determined there is nothing to indicate the prominent horse owner has violated terms of his license in the state.

Zayat, Bank In Agreement on Use of Cash

Prominent horse owner Ahmed Zayat and Fifth Third Bank have reached an agreement allowing Zayat Stables to use cash on hand for racing operations in accordance with a budget submitted to a bankruptcy court in New Jersey.

Zayat Made Loans to Jelinsky Brothers

Documents filed in connection with his Chapter 11 bankruptcy petition show that prominent horse owner Ahmed Zayat made loans to two brothers who have been convicted in connection with illegal bookmaking.

Equine Lending's Stormy Climate

The lingering economic recession has forced banks to become very conservative lenders. In this climate, Thoroughbred horsemen nationwide are struggling with credit lines drying up and loans being called in.

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Bank Opposes Zayat's Use of Cash Collateral

Fifth Third Bank has filed a motion asking a bankruptcy court not to permit Zayat Stables to use the bank's cash collateral for operating expenses until such time it can provide additional collateral or use other funds.

Zayat to Keep Control of Stable

Thoroughbred owner Ahmed Zayat will keep control of his stable for the time being as Fifth Third Bank has decided not to seek a trustee to run Zayat Stables.

Zayat: Insurance Check Went to Stable

Horse owner Ahmed Zayat and trainer Mike Mitchell said Feb. 9 that the horse Thorn Song, for whom Zayat Stable received an insurance payment, is still alive in California.

Bank Pushes for Oversight of Zayat Stables

Even though Zayat Stables has filed for Chapter 11 bankruptcy protection, Fifth Third Bank will continue its push to have a trustee named to oversee the operation.

Zayat Creditors: Trainers, Farms, Keeneland

The Feb. 3 Chapter 11 bankruptcy filing by Zayat Stables shows that Keeneland sales company, a handful of trainers across the country, and breeding farms are among the creditors of Ahmed Zayat's racing operation.

Zayat Stables Files Chapter 11 Bankruptcy

Though he plans to remain in the Thoroughbred business, prominent horse owner Ahmed Zayat said Feb. 3 he has filed for Chapter 11 bankruptcy protection for his Zayat Stables.

Bank Seeks Receiver; Zayat Files Counterclaim

While attorneys for Fifth Third Bank seek a receiver to manage horses owned by Zayat Stable, attorneys for Ahmed Zayat are claiming that the bank's equine lenders reneged on a pledge to restructure the owner's loan.

Bank Files Suit Against Cash Asmussen

Cash Asmussen, a former Eclipse Award winning jockey in the U.S. and leading rider in Europe, has reportedly been sued by a bank for failure to make payments due in October on a loan of more than $2.99 million.

Owner Zayat Surprised by Bank's Lawsuit

Ahmed Zayat, who operates one of North America's leading racing stables and is a major buyer at equine auctions, said he is surprised that a major bank has filed suit seeking repayment of more than $34 million in loans.

Bank Seeks ClassicStar Assets

Fifth Third Bank is asking a federal bankruptcy court for assistance in taking possession of certain assets held by ClassicStar LLC, including stallion shares and income from other sires.

Great Hunter Dispute Settled

A dispute over the ownership of Kentucky Derby Presented by Yum! Brands contender Great Hunter has been settled by J. Paul Reddam and Fifth Third Bank.

Great Hunter Owner Granted Contempt Hearing Against Bank

Fifth Third Bank faces a possible contempt order in California on May 10 over an allegation that it violated a court-ordered agreement by asking Keeneland to withhold any purse money Great Hunter might earn in the Toyota Blue Grass Stakes (gr. I). The financial institution made the request to the track due to its claim of an interest in the colt.

Proposal Paves Way for Great Hunter's Blue Grass Start

The principal parties involved in a legal dispute over star runner Great Hunter have agreed on terms that could prevent controversy over the colt's scheduled start in the April 14 Toyota Blue Grass Stakes (gr. I), an attorney involved in the matter said.

Reddam Seeks Court Protection for Great Hunter

Attorneys for J. Paul Reddam have filed a lawsuit in California that seeks protection for star colt Great Hunter, who is the subject of a lien by a Kentucky bank.

Great Hunter's Ownership Clouded by Legal Issues

Great Hunter is a hot property on this year's Triple Crown trail, but who has right to claim the grade I winner as legal property looms as a big question.

The Race For Education Receives Federal Grant

The Race For Education has been selected to receive an Assets for Independence grant in the amount of $164,000 from the federal Department of Health and Human Services‚ Office of Community Service.

Fifth Third Bank to Sponsor Stakes at Keeneland, Turfway Park

Fifth Third Bank, a Cincinnati, Ohio-based financial institution, will become the signature sponsor of two major stakes races on the Kentucky horse racing circuit.