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TMZ.com
Mohamed Hadid has declared bankruptcy on behalf of his company that owns his mansion … this after a judge told him he’s gotta tear down his $100 million Bel-Air home.
Mohamed’s company, 901 Strada LLC, filed docs in federal bankruptcy court the day before Thanksgiving, declaring he has between $10 million and $50 million in debt.
According to the docs, Mohamed says his Bel-Air mansion needs immediate attention — it needs to be physically secured or protected from the weather.
Mega
That’s notable because as we’ve reported … a judge says Mohamed’s gotta demolish the 30,000-square-foot crib because it’s unsafe for a myriad of reasons and the property is a “clear and present” danger to Hadid’s neighbors.
You’ll recall … Mohamed’s neighbors and the city are concerned the mansion is on an unstable hillside and wasn’t built to safety standards.
In the docs, Mohamed says he’s over $386,000 in debt to a design and management company and over $200k in debt to a building materials company. He says he owes over $93k to a demolition company and owes over $35k to plumbers.
The bankruptcy filing raises the possibility that if Mohamed does not pay the estimated $5 million to demolish the mansion, local taxpayers would then have to foot the bill.