Fifth Third Bank sues Gulf Coast Farms
{{monthName}} {{day}}, {{year}} {{hour12}}:{{minuteTwoDigit}}{{dayPeriod}}
Fifth Third Bank has sued prominent Thoroughbred breeder Gulf Coast Farms and related business entities, alleging the breeder defaulted on about $15 million in loans.
Gulf Coast, headed by Gerald F. Bailey and Lance K. Robinson, was the fourth-leading breeder in North America in 2010, with almost $5.6 million in earnings. Gulf Coast bred Preakness winner Lookin At Lucky, the 2009 juvenile champion and 2010 3-year-old champion male.
The suit, filed in Fayette Circuit Court in Lexington on Jan. 5, alleges Gulf Coast owes $6.87 million on a 2009 note and $7.59 million on a 2010 note, as well as $664,500 on another deal.
Read More
Shred the Gnar is back, and she is one of the most impressive 3-year-old fillies in the nation....
It was as a 2-year-old, but Dewolf 's career best race came when second in the Grey Stakes...
Double Your Money , who finished second in the Greenwood Cup (G3) at Parx in September, won the...
Fionn , racing for the first time since a fourth-place finish in the Grade 1 Queen Elizabeth II...
Jockey Dylan Davis is out indefinitely after being injured in an incident during Friday's seventh race at Aqueduct...