Summary
Zayat Stables LLC, the Hackensack-based owner of the favorite for the Kentucky Derby, filed a plan of bankruptcy reorganization Friday that would allow the company to pay off existing debts in fewer than five years and fully compensate creditors, the company's attorney said.
The plan, filed in U.S. District Bankruptcy Court in Newark, requires the stables to pay off its main lender, Fifth Third Bank, by December 2014. The lender claims it is owed $34.5 million. Zayat disputes that figure.See the full content of this document
Extract
Eskendereya's Owner Reorganizes
The company, owned by Teaneck resident Ahmed Zayat, filed for Chapter 11 bankruptcy on...
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