A motion has been filed in a Kentucky federal court asking to convert the bankruptcy protection of former broodmare lease operator ClassicStar LLC from Chapter 11 business reorganization to Chapter 7 liquidation.
The New York Racing Association can add the Internal Revenue Service to its list of obstacles, as the federal agency wants NYRA to pay it $1.6 billion to settle past tax bills.
After months of having fingers pointed at them, the principal parties involved in the ongoing ClassicStar legal saga are now taking shots at each other.
A federal judge in Lexington signed an order Oct. 24 that allows parties to make selected evidence confidential in the lawsuit involving the controversial ClassicStar broodmare leasing program.
Individuals claiming they were bilked out of millions of dollars by ClassicStar's high-profile mare lease and breeding program are awaiting answers to a recent complaint filed on their behalf
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