A Fast Bankruptcy Estate Asset is the Kentucky Derby Favorite

A Wall Street Journal Article reports that the horse Eskendereya is currently considered the favorite to win the Kentucky Derby. The horse is owned by Zayat Stables, LLC, which filed a voluntary petition for relief under Chapter 11 on February 3, 2010. The Lexington Herald Leader reports that Zayat Stables recently asserted a claim against Fifth Third Bank via an adversary proceeding. Zayat Stables alleges that it was forced to file bankruptcy after the Bank broke an agreement to restructure debt. It appears that this year's Kentucky Derby will have a significant impact on the valuation of the bankruptcy estate.