Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

lurkey mclurker
Posts: 2913
Joined: Thu Sep 12, 2013 8:15 pm

Tue Jan 28, 2020 9:58 pm

Mylute wrote:
Tue Jan 28, 2020 7:16 pm
Image
LOL oooh this will come in useful. :::appropriates gif:::
Horsebagger
Posts: 2213
Joined: Thu Sep 12, 2013 7:20 pm

Tue Jan 28, 2020 11:18 pm

stark wrote:
Fri Jan 24, 2020 2:40 pm
Horsebagger wrote:
Fri Jan 24, 2020 12:11 pm
If he aggressively contests the efforts of the lenders to get repaid, the floodgates will open on the public disclosure of where all the money went, and I guarantee HE DOES NOT WANT THAT TO COME OUT.
What pray tell could that be? Just your educated guess of course.

He's been getting gambling lessons from Mattress Mac?
He's been giving arms away to some Middle East bad guys?
He's been picking up the consulting bills for Justin meeting with Caitlyn Jenner?
He's being threatened by Avanati and Stormy Daniels et al?
He's bankrolling Tom Steyer?
Pull up a chair, my friend. He wants to go full monty here, and has chosen to go down in flames. I would guess the motion to avoid the Receiver is going to get bounced, because even a stupid lender would put air-tight remedies when giving a guy like him more money in such a risky business as this, but not until the response from the Lender starts sharing $hit publicly to justify their actions. Boo hoo, Ahmed.

And then comes the forced liquidation of racing and broodmare assets by the end of the year, and unlike last time thru his first Bankruptcy Order, there are likely going to be NO RESERVES. I would have thought he could still declare bankruptcy a second time, but once the Receiver is in place, that's not going to get him access to any more cash, or have much, if any, control or influence on racing decisions. And given the time of year it is, when their foals start dropping, the invoices from the stallion farms who covered their mares are going to drop on them as well. More debt that has to get in line behind the lender to carve up the carcass.

His attempt to bounce the Receiver is a tell. He's jonesing to get to cash. And that's EXACTLY why the Lender dropped the hammer on him and took away the keys.

Criminal Sack of $hit. Good Riddance.
User avatar
Flanders
Posts: 3635
Joined: Fri Sep 13, 2013 7:01 pm

Wed Jan 29, 2020 5:21 am

Horsebagger wrote:
Tue Jan 28, 2020 11:18 pm
Pull up a chair, my friend. He wants to go full monty here, and has chosen to go down in flames. I would guess the motion to avoid the Receiver is going to get bounced, because even a stupid lender would put air-tight remedies when giving a guy like him more money in such a risky business as this, but not until the response from the Lender starts sharing $hit publicly to justify their actions. Boo hoo, Ahmed.

And then comes the forced liquidation of racing and broodmare assets by the end of the year, and unlike last time thru his first Bankruptcy Order, there are likely going to be NO RESERVES. I would have thought he could still declare bankruptcy a second time, but once the Receiver is in place, that's not going to get him access to any more cash, or have much, if any, control or influence on racing decisions. And given the time of year it is, when their foals start dropping, the invoices from the stallion farms who covered their mares are going to drop on them as well. More debt that has to get in line behind the lender to carve up the carcass.

His attempt to bounce the Receiver is a tell. He's jonesing to get to cash. And that's EXACTLY why the Lender dropped the hammer on him and took away the keys.

Criminal Sack of $hit. Good Riddance.
I'm really curious if they even own any horses deemed highly valuable anymore. January 4th was the first time Zayat Stables has had a Graded Stakes winner since American Pharoah won the BCC in 2015. I can't think of many GSW fillies they've owned, A Z Warrior, Jojo Warrior, and G1Spw American Cleopatra were all sold.
stark
Posts: 5944
Joined: Thu Oct 03, 2013 9:55 am
Location: SoCal

Wed Jan 29, 2020 9:28 am

Horsebagger wrote:
Tue Jan 28, 2020 11:18 pm
stark wrote:
Fri Jan 24, 2020 2:40 pm
Horsebagger wrote:
Fri Jan 24, 2020 12:11 pm
If he aggressively contests the efforts of the lenders to get repaid, the floodgates will open on the public disclosure of where all the money went, and I guarantee HE DOES NOT WANT THAT TO COME OUT.
What pray tell could that be? Just your educated guess of course.

He's been getting gambling lessons from Mattress Mac?
He's been giving arms away to some Middle East bad guys?
He's been picking up the consulting bills for Justin meeting with Caitlyn Jenner?
He's being threatened by Avanati and Stormy Daniels et al?
He's bankrolling Tom Steyer?
Pull up a chair, my friend. He wants to go full monty here, and has chosen to go down in flames. I would guess the motion to avoid the Receiver is going to get bounced, because even a stupid lender would put air-tight remedies when giving a guy like him more money in such a risky business as this, but not until the response from the Lender starts sharing $hit publicly to justify their actions. Boo hoo, Ahmed.

And then comes the forced liquidation of racing and broodmare assets by the end of the year, and unlike last time thru his first Bankruptcy Order, there are likely going to be NO RESERVES. I would have thought he could still declare bankruptcy a second time, but once the Receiver is in place, that's not going to get him access to any more cash, or have much, if any, control or influence on racing decisions. And given the time of year it is, when their foals start dropping, the invoices from the stallion farms who covered their mares are going to drop on them as well. More debt that has to get in line behind the lender to carve up the carcass.

His attempt to bounce the Receiver is a tell. He's jonesing to get to cash. And that's EXACTLY why the Lender dropped the hammer on him and took away the keys.

Criminal Sack of $hit. Good Riddance.
Taxes
I've found it easier to tear up tickets at 8/1 instead of 8/5.
User avatar
DawnStorm
Posts: 40
Joined: Wed Dec 04, 2019 2:54 pm

Wed Jan 29, 2020 1:26 pm

TapitsGal wrote:
Fri Jan 24, 2020 11:45 am
And how can Zayat say he's blindsided by this? Is denial just the name of his game(if I recalled he denied knowing about the problems with Nehro at the time which I never bought into..generally owners call the shots and a trainer can't retire a horse without at least having some discussion with the owner)..Zayat is just digging himself a bigger hole.
I know NOTHING!
~Sgt Schultz.
What is a mere individual to do? Live as sane and decent a life as you can, love your family and friends and understand that everybody is in this together.
--Ron Smith aka The Voice of Reason
User avatar
Falinadin
Posts: 39
Joined: Sun Dec 10, 2017 5:14 am

Thu Jan 30, 2020 11:13 pm

Now Mike Maker has filed a legal complaint against Zayat for $120,000 in unpaid training fees: https://www.bloodhorse.com/horse-racing ... inst-zayat

Maker was quoted as saying "Better to be closer to front of the line than the back" in regards to lawsuits against Zayat. :lol:
Horsebagger
Posts: 2213
Joined: Thu Sep 12, 2013 7:20 pm

Thu Jan 30, 2020 11:38 pm

Falinadin wrote:
Thu Jan 30, 2020 11:13 pm
Now Mike Maker has filed a legal complaint against Zayat for $120,000 in unpaid training fees: https://www.bloodhorse.com/horse-racing ... inst-zayat

Maker was quoted as saying "Better to be closer to front of the line than the back" in regards to lawsuits against Zayat. :lol:
Not if he files Bankruptcy, Mike. It's irrelevent. Sorry.
User avatar
Mylute
Posts: 4953
Joined: Fri Aug 10, 2018 11:20 pm
Location: Alabama

Sat Feb 01, 2020 4:47 pm

Zayat Issues Statement on Maker Lawsuit
https://www.bloodhorse.com/horse-racing ... er-lawsuit
"I'm here, free as the wind, fountain of extraordinary knowledge, splendidly corrupt, and eager to be of profitable service."
~ Peter Lorre 1904 - 1̶9̶6̶4̶ ∞
Horsebagger
Posts: 2213
Joined: Thu Sep 12, 2013 7:20 pm

Sat Feb 01, 2020 5:59 pm

Mylute wrote:
Sat Feb 01, 2020 4:47 pm
Zayat Issues Statement on Maker Lawsuit
https://www.bloodhorse.com/horse-racing ... er-lawsuit
He's a flat out coward, making statements through attorneys. Someone should step-up to a microphone, apologize and face the music instead of playing the victim card thru the press.

Wonder when the next time is he or his son show their face on the backside of a racetrack.

Who's booking his bets on the Super Bowl?
TapitsGal
Posts: 1118
Joined: Fri Sep 13, 2013 11:03 pm

Sun Feb 02, 2020 10:13 am

Mylute wrote:
Sat Feb 01, 2020 4:47 pm
Zayat Issues Statement on Maker Lawsuit
https://www.bloodhorse.com/horse-racing ... er-lawsuit
The circus needs to come calling cause this guy's an experienced clown...but then I remembered even the circus has standards
User avatar
Mylute
Posts: 4953
Joined: Fri Aug 10, 2018 11:20 pm
Location: Alabama

Sun Feb 02, 2020 8:55 pm

Your Uber is here, Mr. Zayat.
Image

I know this has a curse word on it but I hope it's allowed. It's just a joke.
"I'm here, free as the wind, fountain of extraordinary knowledge, splendidly corrupt, and eager to be of profitable service."
~ Peter Lorre 1904 - 1̶9̶6̶4̶ ∞
stark
Posts: 5944
Joined: Thu Oct 03, 2013 9:55 am
Location: SoCal

Mon Feb 03, 2020 12:19 pm

Is Zayat on the stewards radar anywhere like they do in California for wrongdoers....

Owner James Marsden was suspended for failing to show for a stewards’ meeting in discuss a complaint that he allegedly owed Steven Cole of Cole Ranch $4,893.33 for training services. The suspension started Jan. 18. During this time Marsden is barred from the premises.

Owner Juan Pablo Silva was suspended when he failed to show for a hearing on Jan. 17 over an unpaid veterinarian services to Dr. Melinda Blue. Initially Silva’s license had expired but the case couldn’t be filed until he renewed his license, which he did. The suspension was supposed to start Jan. 25. However, his license was restored when he paid $1,027.15. It required two different stewards’ rulings.
I've found it easier to tear up tickets at 8/1 instead of 8/5.
User avatar
Starine
Posts: 5124
Joined: Thu Jan 09, 2014 12:39 am
Location: South Carolina

Mon Feb 03, 2020 9:38 pm

View From The Eighth Pole: The Irrational Exuberance Of Ahmed Zayat by Ray Paulick
https://www.paulickreport.com/news/ray- ... med-zayat/
stark
Posts: 5944
Joined: Thu Oct 03, 2013 9:55 am
Location: SoCal

Tue Feb 04, 2020 12:36 pm

Starine wrote:
Mon Feb 03, 2020 9:38 pm
View From The Eighth Pole: The Irrational Exuberance Of Ahmed Zayat by Ray Paulick
https://www.paulickreport.com/news/ray- ... med-zayat/
Mr. Paulick needs a new headline writer.
yawn.
I've found it easier to tear up tickets at 8/1 instead of 8/5.
User avatar
Starine
Posts: 5124
Joined: Thu Jan 09, 2014 12:39 am
Location: South Carolina

Wed Feb 05, 2020 12:30 am

stark wrote:
Tue Feb 04, 2020 12:36 pm
Mr. Paulick needs a new headline writer.
yawn.
Agreed. I would have been more satisfied with, "View From the Eighth Pole: Zayat penniless again"
Horsebagger
Posts: 2213
Joined: Thu Sep 12, 2013 7:20 pm

Thu Feb 06, 2020 8:39 pm

https://www.thoroughbreddailynews.com/r ... r-efforts/

Nope, you're not allowed to look in that closet where I keep my skeletons.
Horsebagger
Posts: 2213
Joined: Thu Sep 12, 2013 7:20 pm

Thu Feb 06, 2020 8:52 pm

https://www.bloodhorse.com/horse-racing ... zayat-case

"......but the judge disagreed, noting the loan agreement established between the two parties allowed for a receiver to be appointed without a hearing."

"This is not the kind of agreement drawn up on a napkin," she stated in court.

Filed under the category "of course it does"
Horsebagger
Posts: 2213
Joined: Thu Sep 12, 2013 7:20 pm

Thu Feb 06, 2020 8:57 pm

Horsebagger wrote:
Thu Feb 06, 2020 8:52 pm
https://www.bloodhorse.com/horse-racing ... zayat-case

"......but the judge disagreed, noting the loan agreement established between the two parties allowed for a receiver to be appointed without a hearing."

"This is not the kind of agreement drawn up on a napkin," she stated in court.

Filed under the category "of course it does"
And then the part where the Receiver wants to seach the the data on the computers servers, and he's objecting.

Scaring the $hit out of him for what reasons you think?
User avatar
Flanders
Posts: 3635
Joined: Fri Sep 13, 2013 7:01 pm

Fri Feb 07, 2020 1:50 am

Flanders wrote:
Thu Jan 23, 2020 1:51 am
TapitsGal wrote:
Thu Jan 23, 2020 12:54 am
Pharoah may have been the horse that caused them to catch him but there's rumors that Pharoah isn't the only horse he sold shares of..and would the buyers who bought the shares be considered innocent parties in this? And as majority owners, I can't imagine shares of Pharoah being secretly sold off would go over well with Coolmore...would they be required to honor those breeding shares?and accept the mares those shareholders submit to him? And per Lexington herald:

"Zayat also is accused of secretly selling off and hiding proceeds from the sale of assets related to other horses including Bodemeister, Eskendereya, American Cleopatra, Grammajo, Danyelli, Lezendary, Old Glory, Lemoona, Amandrea, Ash n’ Em, Majid, El Kabeir, Zensational, Justin Philip and Prayer for Relief."
Its against the law to sell anything you have staked as collateral on a loan. The bank can repossess anything he sold that was used as collateral and then sue both him and the buyer if they choose to do so. He sold 2 shares to LNJ Foxwoods and the rest to Coolmore.

A lot of the other stallions were sold years ago though. Zensational hasn't stood in the US since 2014, Eskendereya was sold in 2015, El Kabeir was sold in probably late 2017. American Cleopatra was sold before her 2018 foal was born. Lezendary and Majid were the horses the trainer sued him over last summer right? I wonder if when they settled out of court he just gave the trainer the horses? I see that Majid is owned by Repole now but Lezendary hasn't raced again. I guess they didn't check in to see if he still owned the horses because he was paying his loan payment on time until September? They didn't buy any horses at all in 2019 but spend about $5.2 million on yearlings/2yos in 2018.
So that new article pretty much says what I guessed. He gave those two horses to Rodriguez to cover the 600k training bills.
User avatar
Mylute
Posts: 4953
Joined: Fri Aug 10, 2018 11:20 pm
Location: Alabama

Wed Feb 12, 2020 7:57 pm

Feast your eyes, guys.

Zayat Lawsuit Documents Detail Sale Of American Pharoah To Coolmore
https://www.paulickreport.com/news/bloo ... -coolmore/
The court documents also revealed the purchase agreements from other Zayat runners who have recently gone off to stud, including Solomini, a multiple Grade 1-placed runner who was campaigned in partnership with Coolmore. The horse was sold in full to McMahon of Saratoga Thoroughbreds in December for $250,000, which MGG Investments claimed was also a deep discount from the $3 million valuation Zayat's representatives provided in July 2019, and that the proceeds were not used to repay the debt.

El Kabeir, a Grade 2-winning son of Scat Daddy, was sold in September 2017 to Yeomanstown Stud in Ireland for $500,000, which the creditor claimed was well under the various market valuations provided by Zayat's representatives. Those valuations ranged from $2.5 million to $5.75 million.
"I'm here, free as the wind, fountain of extraordinary knowledge, splendidly corrupt, and eager to be of profitable service."
~ Peter Lorre 1904 - 1̶9̶6̶4̶ ∞
Post Reply