Zayat Stables, LLC Files For Chapter 11
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Debtor Name: Zayat Stables, LLC
Year Filed: 2010
Jurisdiction: United States Bankruptcy Court / District of New Jersey
Asset Size: 10,000,000 to 100,000,000
Case Number: 10-13130
Industry: Agricultural/Farming, Entertainment/Recreation, Gaming
Thoroughbred horse racing stable organized on 2005 blames Fifth Third Bank.
From the sole officer's affidavit, "in reliance upon promises by Fifth Third throughout 2009 to extend credit premised upon a restructuring of existing indebtedness over an extended period of time, the Debtor abandoned certain of its business plans (such as cancelling and/or withdrawing sales of horses) that would have raised sufficient liquidity to keep the Debtor current with Fifth Third and to operate its business during a depressed economic period".
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