Judge Rejects Mohamed Hadid's Company's Bankruptcy Filing
Mohamed Hadid Company's Bankruptcy Denied Clears Way for Mansion Tear Down
Mohamed Hadid 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.
However, in a Tuesday ruling in bankruptcy court ... a judge found 901 Strada had filed 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.
Tuesday's ruling means he better start doing some juggling with his budget.
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 for demolition is hanging over his head.
