might need a wrecking ball much sooner than expected -- his company just took a big L, which means he can't delay a court order to tear down a planned $100 million Bel-Air mansion.
TMZ broke the story ... Hadid's company, 901 Strada LLC, filed for bankruptcy last month after a judge ruled the massive home it was building was not up to code, a threat to public safety ... and had to be immediately torn down.to go belly up for the"sole purpose of preventing the enforcement of the state court order" to demolish the mansion.Translation: the judge saw through the company's effort to use the bankruptcy court as a shield.
The demolition alone of the home -- known as the"Starship Enterprise" because it's so huge -- will reportedly cost $5 million. Hadid has said his company doesn't have a budget for demo costs, only construction.Mohamed's company can refile for bankruptcy in about 6 months, but there's no guarantee that will solve his problems. In the meantime, that court order
Wow
Underrated
He should sell some of his assets!!! loser
He’s a crook and a scam artist.
Pay your bills con man
these rich folk use bankruptcy as a get out of jail card when their business adventures flop. Its all very shady shenanigans.
Is this how The Rich avoid squandering money? They just file for Chptr11 and start over with their money they hid in swedish banks or something?
The guy is a builder and familiar with LA building codes...and construction looks like it has been proceeding...what didn’t he do? What are the infractions?
Judge rejects Mohamed Hadid's company bankruptcy filing.💋🇺🇸😣🥺😢😔
He better ask gigi