A judge has determined that Mohamed Hadid declared Chapter 11 bankruptcy on behalf of his firm only to prevent the demolition of his Los Angeles mega-mansion.
- December 18, 2019
AceShowbiz - Gigi Hadid and Bella Hadid's father has had his company's bankruptcy filing rejected by a California judge.
Real estate mogul and reality TV regular Mohamed Hadid declared Chapter 11 bankruptcy on behalf of his firm, 901 Strada LLC, last month (November 2019) - days after the 71-year-old was ordered to tear down his "dangerous" Los Angeles mega-mansion, which was deemed a threat to public safety because it was not up to code.
In the filing, Hadid's lawyer claimed the tycoon was "broke" and couldn't afford the demolition fee, but now his efforts to delay the court order have been dismissed.
According to TMZ, the ruling was made on Tuesday, December 17, when the judge determined Hadid had only declared bankruptcy for the "sole purpose of preventing the enforcement of the state court order" to pull down the massive compound, which will reportedly cost $5 million (£3.8 million).
901 Strada bosses will be able to refile for bankruptcy in around six months' time.
Hadid has become known in recent years for appearances on reality shows like "Second Wives Club", "The Real Housewives of Beverly Hills", and "Shahs of Sunset", on which he would often flaunt his wealth.
