mgg investments

Receiver In Zayat Case Alleges ‘Possibly Fraudulent’ Billing By Trainers, Care Providers

In her third report to a Fayette County Circuit Court this week, the receiver appointed to control the assets of Zayat Stables noted “unorthodox, possibly fraudulent” billing practices from unnamed trainers and other caretakers to the stable. Elizabeth Woodward, who was appointed by the court to manage Zayat Stables after it was sued by New […]

Continue reading
Hill ‘n’ Dale Files Motion To Dismiss In Zayat Case; Other Defendants Let Out Of Suit

Hill ‘n’ Dale has filed a motion in Fayette County Circuit Court, requesting a judge dismiss claims against the farm in connection with a lawsuit between Zayat Stables and MGG Investment Group. MGG is suing Zayat Stables in an attempt to recover $23 million which the New York investment firm says is the unpaid portion […]

Continue reading
Trainers Owed Money By Zayat Stables May Have A Long Road To Get Paid

While it looks as though farms and veterinarians owed money by Zayat Stables may have some means of getting their invoices paid, trainers may be in a more complicated spot. That’s according to documents filed in Fayette County Circuit Court this week in Lexington, Ky., by the receiver appointed to run the stable during a […]

Continue reading
MGG Drops Clark From Zayat Lawsuit, Receiver Asks For Court’s Help Sorting Out Creditors

Thomas Clark Bloodstock will likely be dropped from a civil lawsuit between New York-based MGG Investments and Zayat Stables, days after being added as a co-defendant by MGG in the suit against the operation founded by Eclipse Award-winning owner and breeder Ahmed Zayat alleging breach of contract and fraud after the stable defaulted on a […]

Continue reading
First Phase Of Zayat Liquidation, High-Priced Remedy Highlight Fasig-Tipton Kentucky Winter Mixed Sale

Following a relatively tame opening session of the Fasig-Tipton Kentucky Winter Mixed Sale on Monday, the market woke up during the auction’s second half, propelled by a solid group of offerings in the supplemental catalog to produce returns that were down slightly from last year’s sale in the averages but ahead by gross. At the […]

Continue reading
Court Documents Reveal Long Line Of Zayat Stable Creditors, Shortage Of Ready Cash

A receiver appointed to take charge of the assets of Zayat Stables will remain in place, despite a motion by the stable’s founder, Ahmed Zayat, to have her removed. That was the conclusion from Fayette County Circuit Court Judge Kimberly Bunnell Thursday afternoon after hearing arguments from attorneys representing Zayat and creditor MGG Investments over […]

Continue reading
View From The Eighth Pole: The Irrational Exuberance Of Ahmed Zayat

For many, a horse racing stable is a business. As most Thoroughbred owners know, however, it’s not a business that anyone should count on being profitable. A quick look at the math: In 2018, according to The Jockey Club Fact Book, 46,144 starters competed for about $1.1 billion in purses. The average earnings per starter […]

Continue reading
Report: Zayat Sued For $23 Million, Sold Lifetime Breeding Rights In American Pharoah

Triple Crown-winning owner Ahmed Zayat may be close to bankruptcy, according to a report this week from the Lexington Herald-Leader. Zayat and his Zayat Stables were hit with a $23 million lawsuit earlier this week from New York-based MGG Investments in Fayette County Circuit Court in Lexington, Ky. According to the Herald-Leader, MGG Investments claims […]

Continue reading
Twitter Twitter
Paulick Report on Instagram