Zayat Stables files for bankruptcy

Zayat Stables files for bankruptcy
LEXINGTON, Ky. (AP) — Prominent racehorse owner Ahmed Zayat has filed for Chapter 11 bankruptcy protection in New Jersey. The filing Wednesday comes amid a legal battle between Zayat Stables and Fifth Third Bank , which claims in a lawsuit Zayat owes more than $34 million from loans — including purse money, breeder’s awards and stallion service fees.

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