Debtor Proposes Sale of Kentucky Derby Favorite Through Bankruptcy C...

The horse Eskendereya is one of the favorites to win this year's Kentucky Derby. Eskendereya is owned by Zayat Stables, LLC, which filed a Chapter 11 bankruptcy in February. ESPN's website (an interesting source for bankruptcy news) is reporting that Zayat Stables filed a Chapter 11 Plan of Reorganization on Friday. Zayat Stables proposes to repay creditors by the end of December, 2014 under the Chapter 11 Plan. ESPN further reports that Keeneland Racetrack in Lexington, Kentucky is one of the Debtor's largest creditors. A NY Daily News Article states that Eskendereya would be sold to repay creditors under the terms of the proposed Chapter 11 Plan. It appears that a victory by Eskendereya in the Kentucky Derby would result in a better payout to creditors. As such, multiple creditors will have a greater interest than usual in this year's Kentucky Derby.