Business

Zayat objects to default notice

Thoroughbred owner Ahmed Zayat objected Tuesday to Fifth Third Bank's claim that he defaulted on promises to sell nine 2-year-old horses at Keeneland earlier this month. A hearing is planned on the matter Wednesday in U.S. Bankruptcy Court in New Jersey.

Zayat said in his response that he never promised to sell the horses, and that three of the nine were withdrawn because a sale would have been premature. A fourth horse was withdrawn because the Songandaprayer colt has begun to show promise and will soon be ready to race, Zayat said. He alleges the bank's motion is retaliation for his filing an adversarial motion against the bank.

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