A federal bankruptcy judge has signed an order to convert the Chapter 11 business reorganization of ClassicStar LLC to Chapter 7 liquidation, paving the way for creditors to pursue whatever assets they can find linked to the former broodmare-lease operator.
Several lawsuits pending against ClassicStar have been consolidated into a single action to be heard in Kentucky federal court, but the primary operating entity of the former broodmare-lease marketer will be temporarily exempt from litigation pending its bankruptcy action.
Former professional basketball player Greg Minor is among the latest to join a long list of investors who claim former broodmare lease operator ClassicStar and its affiliates caused them to lose large sums of money.
Champion and millionaire Xtra Heat foaled a Gone West chestnut colt shortly before midnight April 16 at ClassicStar near Versailles, Ky.
Four years after buying and building Highland Farm, near Paris, Ky., George and Kay Hofmeister have listed the Bourbon County estate for sale for $60 million. "We're going to scale way back, but we're not going to leave the industry," George Hofmeister said Thursday.
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