NVDAILY.COM | Local News
Posted October 2, 2010 | 1 Comment
Salahi's polo club files for bankruptcy
By Sally Vothfirstname.lastname@example.org
America's Polo Cup Inc., of 440 Scenic Overlook Drive, Front Royal, filed for Chapter 7 in U.S. Bankruptcy Court on Sept. 13, according to online court records.
Its president is listed in the petition as Tareq Salahi, who, along with his wife, Michaele, made global headlines when they allegedly crashed a White House state dinner last November.
More recently, Mrs. Salahi has been starring in the Bravo network's "Real Housewives of D.C."
The bankruptcy petition says that America's Polo Cup grossed $430,715 in 2008, $480,068 in 2009, and slightly more than $50,000 this year from polo events.
The corporation owes $329,850, the petition says, including $304,920 to Salamander Middleburg LLC for catering services, which is the subject of a civil case in Fauquier County.
Another Salahi business, Oasis Enterprises Inc., also known as Oasis Winery, filed for Chapter 7 bankruptcy in federal court in Alexandria in the winter of 2009. Salahi is listed as its president.
That filing pointed to a lavish lifestyle, and included debts related to an Aston Martin and a $90,000 boat.
On Sept. 14, a motion filed by Salahi to dismiss his mother Corinne Salahi's Chapter 7 filing on behalf of Oasis Vineyards Inc., 14141 Hume Road, in Alexandria was denied, according to court records.
In July, Salahi filed a motion to dismiss or stay the case involving his mother, claiming that he holds power of attorney for his father, Dirgham Salahi, and didn't give the necessary approval to file for bankruptcy on behalf of the Hume vineyard.
Salahi says he is the majority shareholder of Oasis Vineyards, and accuses his mother of not calling a board meeting about the matter.
"The bankruptcy filing may have compromised the wine business beyond repair," the motion says. "Corinne Salahi is not an expert in the wine business and has done nothing to preserve the wine and equipment that is the bulk of the estate in bankruptcy ... "