Journalists Wandering Eyes Posted January 22, 2020 Journalists Share Posted January 22, 2020 A Fayette County, Kentucky judge granted a motion at an emergency hearing Wednesday to put Zayat Stables and its horses into receivership, reports the Lexington Herald-Leader. The ruling follows a lawsuit filed by New York-based MGG Investment Group alleging that owner Ahmed Zayat had sold shares in Triple Crown-winning stallion American Pharoah that were being used as collateral against loans made by MGG to Zayat. MGG’s lawsuit alleges that Zayat defaulted on his loans in September, and seeks at least $23 million from Zayat. See Friday’s TDN for more on this developing story. The post Report: Zayat Sued for $23 Million; Stable Placed in Receivership appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article Quote Link to comment Share on other sites More sharing options...
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