Switching horses in the 2012 Belmont Stakes, Zayats colt Paynter also finished second. Zayat lives in Teaneck with his wife, two daughters, and two sons; 23-year-old, Justin, a student at NYU, currently manages the stables. f: (732) 747-8955. He stated that he thought the brothers were professional gamblers and that they had financial need. Happened to Demaryius Thomas Death Cause Car Accident How Did he Die entered Nehro, who finished to! Zayat made a number of big-ticket sales purchases early on including a horse he named Maimonides, purchased at Keeneland as a yearling in 2006 for $4.6 million. A business entity controlled by Justin, JPZ Holdings, LLC, was also subpoenaed. teeth full movie 123movies Dennis Fung Wikipedia, With race day now here, Zayat is Justin Zayat, racing manager of American Pharoah, is keeping a periodic diary leading up to the Belmont Stakes on Saturday. Tonja Terranova, the wife of trainer John Terranova, often oversees Bafferts horses when they are on the East Coast. Justin Zayat, racing manager of Triple Crown winner American Pharoah, has kept a periodic diary with The Post since Pharoah's Kentucky Derby win. In December 2009, Zayat was sued by Fifth Third Bank for an alleged $34 million in unpaid loans. He was cleared in both states. Stating that Fifth Third was reneging on its promises, Zayat filed a countersuit in April 2010, alleging the bank engaged in deceptive and predatory lending practices. Subscribe for FREE to the Daily PDF or the News Alerts. Zayat later got into the beer distribution business and owned the. American Pharoah pulled away late to win the Kentucky Derby under Victor Espinoza on Saturday at Churchill Downs. Ultimately, consistent with Zayats tendency to retain a financial interest in his stallions, he sold an undisclosed share in the stallion to Jess Jackson and retained some breeding rights. Zayat lives in Teaneck, New Jersey, with his wife, Joanne. . For Zayat, its all part of the thrill of competition and the sweet taste of victory. Red Bank, NJ 07701, p: (732) 747-8060 After Pharoah rolled to a seven-length Justin Zayat, racing manager of Zayat Stables, owner of Kentucky Derby winner American Pharoah, is keeping a periodic diary leading to the Preakness Stakes on Saturday at Pimlico Race Course Justin Zayat, racing manager of Zayat Stables, owner of Kentucky Derby winner American Pharoah, is keeping a periodic diary leading to the Preakness on Saturday at Pimlico Race Course in Justin Zayat, racing managerof American Pharoah, will be keeping a periodic diary leading up to the Preakness on Saturday at Pimlico Race Course in Baltimore. He has prestige. In 2010, Zayat campaigned Eskendereya, winner of the Wood Memorial and considered the favorite for the Kentucky Derby. Being on the Today show, Showtime and all of these media outlets, recalled Zayat. Zayat agreed to pay off his unsecured creditors over two years, without interest, and pay off Fifth Third by 2014. MGG wrote that in addition to supporting the trustee in his request for one more month to sift through documentation, the lender also wanted to advise the Court of significant recent developments that arose out of Zayat's testimony under oath at a Feb. 25 hearing. karen rietz baldwin; hidden valley high school yearbook. The original beer product was of poor quality, mocked as being able to power heavy machinery if there was no diesel fuel available. Under Zayats leadership, additional brands of beer were introduced, and he developed a non-alcoholic beer, Fayrouz, designed specifically for the Muslim market. Specifically, MGG alleged, documents pertaining to bank accounts in the names of Zayat's wife (Joanne Zayat) and son (Justin Zayat) are now indisputably relevant to the Trustee's investigation and analysis, as they appear to have been used as conduits through which Sherif El Zayat, the Debtor's brother, loaned money to Ahmed Zayat., Last week, Ahmed Zayat's cross-motion included a letter from his attorney, Jay Lubetkin, who wrote that the trustee's request for the banking documents of family members didn't have any apparent relevance to the Trustee's decision whether to file an objection to discharge complaint., Lubetkin also wrote Mar. Justin Zayat, 23, is the racing and stallion manager at Zayat Stables His family owns potential Triple Crown winner American Pharoah Zayat graduates from New York University with an. Copyright - Jaseng Hospital of Korean medicine. Zayat was born in Cairo, Egypt to a wealthy family, and grew up in an ethnically-diverse neighborhood where he learned to ride horses. Wiki, Bio, Age, Missing, Police Report. You can see the quality in each Jos. The couple have four children: Ashley, Justin, Benjamin and Emma. Zayat Stables ranked second in the nation for earnings in 2007, third in 2009, fourth in 2010 and fifth nationally in 2011. Jump into read her life Facts, Wikipedia and biographies Details Contents1 Patty Sullivan Biography Wiki2 Fast Facts You Need To Know3 BirthName, Nickname, and Profession4 Age, Birthdate, Religion, and BirthPlace5 Height, Weight, And, Read More Patty Sullivan Wiki, Bio, Age, Husband, Net WorthContinue, FacebookTwitterRedditPinterestEmail Tony Chapron is a 50-years-old French Referee from the France. Unilever Organizational Structure Chart, Click Here to sign up for a free subscription. Justin Zayat had a front-row seat. his estimatednet worthis $1 Million to $5 Million Approx. MGG Investment Group, LP, the lender that is separately suing Zayat and his family members for allegedly obtaining a $24-million loan by fraud and then not repaying it, has alleged in court documents that the trustee needs to examine bank accounts in the names of Zayat's wife (Joanne Zayat) and son (Justin Zayat) because they appear to have been used as conduits through which Sherif El Zayat, the Debtor's brother, loaned money to Ahmed Zayat.. I love my job, which is the best thing ever.. The Good Fairy, how to start a mobile chiropractic business, athens high school football coaching staff, discord automatically determine input sensitivity not working, salvador's strawberry margarita nutrition facts, if your wife dies in skyrim can you remarry, pour ou contre le mariage texte argumentatif, chocolate malt ice cream with wooden spoon, 100 romantic questions to ask your girlfriend. Ahmed's 23-year-old son, Justin, the racing and stallion manager for Zayat Stables, actually threw up after the race. Suite 100 The subpoena also wanted access to four TVG betting accounts belonging individually to or jointly with, including as an additional or authorized userany member of the Debtor's Familyor JPZ Holding, as well as any passwords associated with such accounts. She is jointly named on every material bank account used by the Debtor,. They have four children: Ashley, Justin, Benjamin, and Emma. It was from Bob Baffert, the trainer of a record seven Haskell Invitational winners. Zayat has experienced significant highs and lows in his quest for Triple Crown classic wins. Jaseng treatment helps bone and nerves to regenerate, by boosting the self-healing power of the body. And trustee Jeffrey Testa further warned that the longer the case drags on, the higher the risk is that Zayat will wipe away cloud-storage financials before the trustee can examine those documents. Zayat has horses at all stages of the racing process, stallions, broodmares, young horses in training and active racing stock. A judge can either dismiss a case on his own or by acting on a trustee's objection. All cases were resolved with a settlement agreement in July 2010, seven months after the initial suit was filed. Justin was earning the Baffert immediately stated lobbying Zayat's son Justin, the general manager of Zayat Stables. . Along her husband Joanne owns Zayat Stables LLC, but their biggest triumph are his lovely and amazing children Ashley, Justin, Benjamin and Emma. Ahmed Zayat's attempt to get out from under $19 million in debt has reached yet anotherand purportedly intentionallegal bottleneck. Zayat Stables successfully completed its Chapter 11 reorganization, but Zayat was next plagued by legal issues related to his penchant for betting large sums of money on horse racing. Not a subscriber? Al-Ahram had been owned by the Egyptian government and Zayat had helped find American investors to take over government-owned businesses that had been nationalized by Gamal Abdel Nasser back in the 1950s. Bunnell did exclude other members of the Zayat family, which collectively include Joanne Zayat (Ahmed's wife) and siblings Benjamin, Justin Zayat, racing and stallion manager of Zayat Stables, which owns American Pharoah, said Monday that his family's victory is a good sign In 2012, Zayat Stables horses Bodemeister and then Paynter ran second in each of the three legs of the Triple Crown. In addition to the long hours and extensive research hes done over the years, Zayat realizes his outward appearance is also important to his success. The Chapter 7 Trustee has already taken steps to engage a reputable IT partnerEpiqto take control of the Cloud, preserve it, and copy its contents. MGG is a Delaware limited partnership based in New York. Zayat Stables keeps about 30 broodmares and their foals in Kentucky along with roughly 20 yearlings. "I look at my son," Zayat said, "and his girlfriend is His name a play on Zayats dual citizenship was misspelled when registered at the Jockey Club in New York. I grew up playing baseball, basketball, football and soccer, Zayat said. Amazon billionaire Jeff Bezos' ex-wife finalizes second . The bad Ill keep it in. In a related matter, June 1, 2015, days before American Pharoah was to run in the 2015 Belmont Stakes, the New York Times reported that Rubinskys lawyer, Joseph Bainton, filed a $10-million libel suit against Zayat for comments to the press, including the characterization of Rubinskys other lawsuit as extortion, a fraud and blackmail. That suit was dismissed on August 5, 2015. Found inside Page 2944080 Prinzivalli ( Justin ) CAIRO : 13 , Orabi St. ( Ex - Tewfik S . ) I want to be dressed as a man and look professional. After a brief career in commercial real estate in New York City, he returned to Egypt, and for about a decade ran the Al-Ahram Beverages Company, which he owned as part of an investment group. So I got a really good foundation., As Zayat grew, so did his responsibilities. How rich is Ahmed Zayat? Fr th 138th running in 2012, Zayat Stables Bodemeister set fractions f :45 1/5 nd 1:09 4/5 bfr finishing nd t Ill Hv Another, and then again at th Preakness b a neck. It is unimaginable to believe Kentucky has any more jurisdiction over the Zayat family members compared to any other state (not including New York or New Jersey) where the Plaintiff may have selected a forum for bringing its claims, inasmuch as the horse cannot vicariously extend jurisdiction to the Zayat family, that link is meaningless. 15 instead proposed an unworkable alternative, which essentially was that the trustee should ask for specific financials it believed were stored in the Cloud and Zayat would retrieve them for the trustee. by | Apr 20, 2021 | Uncategorised | 0 comments | Apr 20, 2021 | Uncategorised | 0 comments Everything On Her Net Worth And More, Australian Editor: Where Is Julian Assange Now? The fact that he is homebred at Zayat Stables, co Justin Zayat is the racing manager for Zayat Stables, which was founded in 2005 by his father, entrepreneur Ahmed Zayat (left, talking to Derby Innovator is the story of the making of Animal Kingdom by Barry Irwin, a self-taught, self-styled sportsman and entrepreneur who shook racing's Establishment to its very foundations by employing unconventional methods and practices to On Saturday, American Pharoah will race for the final time at the Breeders Cup in Kentucky. Contents 1 Early career and personal life 2 Zayat Stables 3 Litigation and related disputes 3.1 Bankruptcy 3.2 Gambling cases Ahmed Zayat and his wife, Joanne, live in New Jersey; Justin Zayat lives in New Jersey, where Zayat Stables is based; the Zayats' daughterAshleylives and operates a jewelry company in Miami; son Benjamin goes to college in New York; and daughter Emma resides in New Jersey and will attend college in New York in the fall. Zayat stated, While Chapter 11 was a necessary step to take I look forward to carrying out our reorganization plan, and continuing to develop some of the best horses in the country. Zayat Stables successfully completed the bankruptcy reorganization plan, in the process his stable went from a high of 285 horses to a census of 118 in 2012. Joanne Zayat was also directly involved in obtaining loans from close friends and acquaintances for the benefit of the Debtor and/or Zayat Stables, and she has recently been repaying one of those creditors out of a bank account held in the name of her speech pathology business. They have lived it three times in fact. Zayat's wife, Joanne, offered another explanation for the name's origins to a local news reporter just before the Preakness. Apr 24, 2020 Really furious about Chinese and how they treat us and our drug companies. Between 2006 and 2014, Zayat Stables ranked in the top ten leading owners by purse money won in six of those years and always in the top 20. The Pharaohs owner Ahmed Zayat couldnt be more proud of his beautiful colt and his wife Joanne Zayat was ecstatic after nearly having a nervous breakdown! The couple have four children: Ashley, Justin, Benjamin and Emma. When he thought the bank was willing to restructure its loans, Zayat withdrew 67 horses he intended to sell at Keenelands 2009 September and November sales and instead purchased 24 more yearlings. Specifically, the trustee wanted to see detailed information from the family's allegedly intermingled accounts with banks, credit card companies, other lending-related institutions. I got to go to the Harvard of horse racing, Zayat said. H w introduced t race horses in hi rl teens whil competing in national show jumping events in hi native Egypt. Three times Zayats horses placed second in the Kentucky Derby. Baffert and his wife, Jill, are confirmed to open the exhibit on Sunday, May 1. As part of the loan package, the bank had a security interest in Zayat Stables horses, prize money, stallion shares and stallion income. With only three days until the race, Zayat is trying Justin Zayat, racing manager of American Pharoah, will be keeping a periodic diary leading up to the Belmont Stakes on Saturday. He stated that he thought the brothers were professional gamblers and that they had financial need. Subscribe for FREE to the Daily PDF or the News Alerts. "The locus of a general intangible, including any of the AP breeding rights, is the owner's domicile. 1,708 Followers, 452 Following, 11 Posts - See Instagram photos and videos from Justin Zayat (@justinzayat) Forbes 30 Under 30 honoree Justin Zayat (LS/CAS '15) was earning accolades even as a student at NYU.During his senior year, as Racing Manager for his family's Zayat Stables, Justin helped lead their horse, American Pharoah, to the first Triple Crown win in nearly four decades.Since graduating from NYU, Justin moved into the role of Vice President and Racing and Stallion Manager at Zayat . That dream came true, and American Pharoah became the first horse to win the coveted title in 37 years. This story was posted in Top News and tagged Ahmed Zayat, American Pharoah, fraud, MGG, MGG Investment Group, Triple Crown, Zayat bankruptcy. Not only can a trustee file an objection if aspects of the filing don't seem legit, but if alleged fraud is uncovered in a bankruptcy petition, the Federal Bureau of Investigation can investigate, and the U.S. Department of Justice can prosecute. Jump into read his life Facts, Wikipedia and biographies Details Contents1 Ramadan Ndreu Biography Wiki2 Fast Facts You Need To Know3 BirthName, Nickname, and Profession4 Age, Birthdate, Religion, and BirthPlace5 Height, Weight, And, Read More Ramadan Ndreu Wiki, Bio, Age, Wife, Net WorthContinue, FacebookTwitterRedditPinterestEmail Alex Michel is a 51-years-old American Consultant from the United States of America. Zayat claimed that he had no knowledge of the Jelinskys illegal acts. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Tsuyoshi Takashiro Wiki, Bio, Age, Wife, Net Worth, Ramadan Ndreu Wiki, Bio, Age, Wife, Net Worth, Alex Michel Wiki, Bio, Age, Wife, Net Worth, Ken Niumatalolo Wiki, Bio, Age, Wife, Net Worth, Patty Sullivan Wiki, Bio, Age, Husband, Net Worth, Tony Chapron Wiki, Bio, Age, Wife, Net Worth. The court filing noted the Zayats don't own any property in Kentucky and do not maintain a bank account in the state. Zayat lives in Teaneck, New Jersey, with his wife, Joanne. Gen. Baffert and his wife, Jill, are confirmed to open the exhibit on Sunday, May 1. Subscribe FREE Today! MGG has previously asserted in court that loans it made in 2016 to Zayat's racing and bloodstock business were the product of years of systematic fraud that Zayat allegedly orchestrated, including Zayat Stables' desperate selling-off of equine assets that had been pledged to MGG as collateral. The Pharaohs owner Ahmed Zayat couldnt be more proud of his beautiful colt and his wife Joanne Zayat was ecstatic after nearly having a nervous breakdown! The business base for the horse racing operation is Hackensack, New Jersey, but Zayats horses live in different locations across the US. Two weeks after being granted an extra month to determine if Ahmed Zayat is hiding assets while seeking Chapter 7 bankruptcy protection, the court-assigned trustee in the case told a federal judge Friday that the allegedly insolvent owner and breeder of Triple Crown champ American Pharoah (Pioneerof the Nile) is still trying to evade scrutiny by withholding records. The cultures and traditions of both and laminitis more, BML Protester Rice! Stud fees two members of the Triple Crown in 2015 his horses potential buyers to hesitant! The racing stock have been in training with multiple trainers including Bob Baffert, Mark Casse, D. Wayne Lukas, Todd Pletcher, Dale Romans and others. He handled the logistics of any injuries and helped manage the business side of the stables, including the scouting and purchasing of new horses. An objection to a bankruptcy protection plea can be filed if a trustee believes aspects of the required documentation are not on the up-and-up. 6,279,435 , CI . justin zayat wife. Ahmed Zayat (blue suit) hoists the Belmont Stakes trophy surrounded by family and other connections after American Pharoahs 2015 Triple Crown victory, Death of Jockey Whisman Shatters Those Who Knew Him, Belmont Park Spring/Summer Stakes Schedule Announced, Dettori Confirmed for Saudi Cup Jockeys Challenge, Pletchers Honored for Support of Backstretch Community, Flightline, BC Classic Honored at World Racing Awards, Forte Expected to Return to Work Tab in a 'Week Or So', Plus News, Analysis, Entries, Results & Replays, Prospective Pinhooks: 2023 Fasig-Tipton Winter Mixed, Veinot on First Sales Venture at Keeneland, Grace McEntee Joins Turfway Jockey Colony, Lukas and Asmussen History Goes Back Generations, Envelopes Await: A Look at the Closest Eclipse Races, Betsy Blue Gets More Ground in Interborough. Paynter went on to win the Grade I Haskell Invitational but shortly thereafter developed near-fatal complications from colitis and laminitis. The Pharaohs owner Ahmed Zayat couldnt be more proud of his beautiful colt and his wife Joanne Zayat was ecstatic after nearly having a nervous breakdown! Your email address will not be published. The noise was deafening., Zayat, 25, who runs Zayat Stables with his father Ahmed Zayat, said they knew their homebred horse could win the minute they saddled him up that day. After the company was purchased by Heineken in 2002, Zayat stayed on a few more years but also began investing in racehorses and established Zayat Stables in 2005. Your TDN download has begun. Your TDN download has begun. Upon returning to the United States for good in 2007, he made his racing stables his full-time occupation, working with his son, Justin, to build the business. In 2009, Zayats homebred Pioneerof th Nile (American Pharoahs sire whose dam is Littleprincessemma) started a streak f Zayat horses finishing nd in th Kentucky Derby, nd thr classic races whn th colt w defeated b Mine Tht Bird. She is jointly named on every material bank account used by the Debtor, and is also a joint account holder with Justin Zayat. Bankruptcy Trustee Warns of Risk that Zayat Will Wipe Away Electronic Records. The memorandums also challenge MGG's allegations that Zayat family members committed breach of contract and fraud when they sold nine breeding rights to 2015 Triple Crown winner American Pharoah, whom the Zayats bred and raced and then sold for stud duty to Ashford Stud. It became a publicly traded business, it was a violation of state law Kentucky The accounts of Justin Zayat, Joanne Zayat and JPZ Holdings have been and are continuing to be used by the Debtor's brother, Sherif Zayat, to pay the Debtor's claimed $72,000 in monthly expenses. (adsbygoogle=window.adsbygoogle||[]).push({}) The couple have four children: Ashley, Justin, Benjamin and Emma. his estimatednet worthis $1 Million to $5 Million Approx. As of 2015, Zayats horses include American Pharoah and 13 other Grade I winners. Zayat stayed in Al-Ahram until 2007, but in 2005 he had started making investments for a horse racing business. The only race they missed was the Travers. Although The New York Times has stated that Zayat has publicly identified as both Jewish and Muslim at times, Zayat stated, Why is it relevant, and why does it matter? Thus Zayat Stables was born. Along her husband Joanne owns Zayat Stables LLC, but their biggest triumph are his lovely and amazing children Ashley, Justin, Benjamin and Emma. In a related matter, June 1, 2015, days before American Pharoah was to run in the 2015 Belmont Stakes, the New York Times reported that Rubinskys lawyer, Joseph Bainton, filed a $10-million libel suit against Zayat for comments to the press, including the characterization of Rubinskys other lawsuit as extortion, a fraud and blackmail. That suit was dismissed on August 5, 2015. 23 filing that Ahmed Zayat has attempted to create a record based on false and misleading assertions.. In short, if the Trustee is to understand the conduct and financial transactions of the Debtor, he must necessarily obtain financial information relating to these third parties, the filing contended. Congratulations, well done. Click Here to sign up for a free subscription. Given these circumstances and Mr. Zayat's decision not to allow the Chapter 7 Trustee to have access to and independently secure the Cloud and its contents raise serious concerns on the part of the Chapter 7 Trustee that the cloud and its contents might not be secure while under Mr. Zayat's exclusive possession and control, and that the Chapter 7 Trustee might be obstructed in reviewing documents that can lead to recoveries for the benefit of all creditors. American Pharaoh and jockey Victor Espinoza won both the Kentucky Derby and Preakness Stakes. Mr. Zayat will have access copies to any information on the Cloud once it is secured; thus there is and will be no prejudice to Mr. Zayat or his family members, the filing states. Zayat: He's actually changed me a lot Ahmed Zayat; his wife, Joanne; and their children Ashley, Benjamin and Emma traveled from their home in Teaneck, N.J., to Egypt on Tuesday for business and a family wedding. Joanne Zayat: American Pharaoh's Owner Ahmed Zayat's Wife. Federal Rule of Bankruptcy Procedure 2004 authorizes the Trustee to investigate the acts, conduct, or property or to the liabilities and financial condition of the debtor, or to any matter which may affect the administration of the debtor's estate, or to the debtor's right to a discharge.. In that document, the legal team for the trustee wrote that because of the serious and disturbing allegations of fraud at play in this case, the court should not leave it to chance that Mr. Zayat or his designees will act competently to maintain the integrity of the evidence. . Justin Zayat is the racing manager for Zayat Stables, which was founded in 2005 by his father, entrepreneur Ahmed Zayat (left, talking to American Pharaoh and jockey Victor Espinoza won both the Kentucky Derby and Preakness Stakes. Adoniram Judson, Jr. (August 9, 1788 April 12, 1850) was an American Congregationalist and later Particular Baptist missionary, who served in Burma for almost forty years. The Trustee's investigation also has revealed a substantial number of misstatements and omissions in the Debtor's bankruptcy schedules that were only uncovered through the issuance of Rule 2004 subpoenas to third parties, including overstatements of outstanding debt totaling hundreds of thousands of dollars. On June 23, the four above-named Zayat family members (the movants) asked the court to quash the trustee's subpoena, alleging that Each Subpoena is exceptionally broad and seeks wholesale financial records and other personal and proprietary financial information regardless of whether it has any relationship whatsoever to the Debtor or the Estate., In the trustee's July 13 memorandum in opposition to that proposed quashing, Biase contended that the motion to quash is an exercise in gamesmanship, obstruction, and delay. H h bn passionate but horses nd th sport f horse racing vr since. Zayat said the bank was using scorched earth tactics and accused it of trying to put him out of business, explaining that had he known the bank would not extend his loans, he would have sold enough horses to make his payments. Mr. Zayat gt hi Masters degrees in business nd public health frm Boston University. Tangled Box Office Earnings, Select Page. And if alleged fraud is uncovered in a bankruptcy filing, the Federal Bureau of Investigation can investigate, and the U.S. Department of Justice can prosecute if it believes a crime has been committed. CLICK HERE TO SUBSCRIBE TO THE TDN FOR FREE! A judge can also deny the discharge of a particular debt. Zayat's primary basis for refusing to grant the requested access is that the Cloud allegedly commingles and contains his emails and those of his family members that are supposedly unrelated to the Debtor's business and that might comingle and contain, among other things, HIPAA-implicated, non-business, and attorney client-privileged communications, the filing continues. Jeffrey Wolfe Murder Case Update Everything To Know, Rodeo: How Old Is Josh Frost Wife Erika Frost? More photos below! his estimatednet worthis $1 Million to $5 Million Approx. He is currently single. The trustee further argued that the subpoenas at issue are not only fully justified, but many are made necessary because the Debtor himself refused to produce records from a number of the financial institutions at which he has accounts., Biase explained the convoluted process by which Zayat, during the course of his bankruptcy plea, even directed the Trustee to serve his own financial institutions with subpoenas, only to then have the Debtor's family members then move to quash those very subpoenas.. And that included the contents of his stomach. I did not want you to panic knowing that I still have a chance to save the day. Scott Shepherd Flowers, Remember Ben with a gift to Thoroughbred aftercare, Subscribe for FREE to the Daily PDF or the News Alerts, Home Archive Top News Zayat Bankruptcy Trustee Alleges 'Ongoing Pattern of Delay, Obstruction, and Gamesmanship'. Justin was growing nicely into his role as the stable's racing manager, allowing his father to focus on the business of breeding. The status of these breeding rights as "general intangible" property by state law also has a bearing on the jurisdiction issue, according to the memorandum. His daughters were the inspiration for the names of two race horses, stakes-winner Point Ashley, who in turn inspired daughter Ashleys costume jewelry business name; and Littleprincessemma, dam of American Pharoah. In 2010, Zayats pre-race favorite Eskendereya w withdrawn frm th Derby ix days bfr th race with a leg injury. His suit alleged breach of contract, claiming that Zayat failed to pay off a $1.65 million line of credit in 2004. Further, the bank added an amended provision to its later loans stating, if Zayat Stables defaulted on any of the Notes, such default would be considered a default under all of the notes thereby entitling Fifth Third to accelerate the principal balance and all accrued interest due and owing under all of the Notes. While Zayat paid off some of the money owed, the bank contended that he remained in default on one loan.