The lengthy legal battle between New York firm MGG Investment Group and Triple Crown-winning owner Ahmed Zayat continues to drag on, according to the Thoroughbred Daily News.
On March 16, Zayat requested that a federal judge not grant his bankruptcy trustee extra time to look at his finances. This week, MGG told the court that the extra time must be allowed because Zayat, despite his “unsupported assertions of cooperation, he has done everything in his power to frustrate the process.”
Zayat declared bankruptcy in the fall of 2020, seeking Chapter 7 protection. MGG is asking a federal judge to order that Zayat can't get his debts to the investment group forgiven because the company says the $24 million in loans Zayat still owes were acquired fraudulently.
MGG's March 23 filing asserts that the Thoroughbred owner and breeder's latest action “does nothing more than establish that Ahmed Zayat is a perpetual liar determined to hinder and obstruct the Trustee, the Court and creditors at every turn.”
Read more at the Thoroughbred Daily News.
For more about Zayat and the legal issues described above, click here.
The post Report: MGG Asserts Zayat ‘Is A Perpetual Liar,’ ‘Has Done Everything In His Power To Frustrate The Process’ appeared first on Horse Racing News | Paulick Report.
