Former trainer Richard Dutrow files for bankruptcy

Richard Dutrow, the onetime leading trainer who was banned for a decade by New York regulators in 2011, has filed for Chapter 7 bankruptcy, claiming liabilities of $1.76 million, according to a court filing with the U.S. Bankruptcy Court for the Eastern District of New York.

The bankruptcy filing, first reported by the Thoroughbred Daily News, claims that Dutrow has $50 in cash and access to $12.50 in a joint checking account with his ex-wife. It also lists a house in East Norwich, N.Y., as an asset, valued at $1 million, though the mortgage debt on the house is $1.3 million.

The filing says that Dutrow has no source of income and does not own or lease a vehicle.

Dutrow, who won the 2008 Kentucky Derby with Big Brown, listed debts to a number of racing-related entities, including the New York State Racing and Wagering Board (since renamed the New York State Gaming Commission), which approved the 10-year ban in 2011. After New York courts rejected his appeals of the penalty, Dutrow was sent to the sidelines in 2013 and will not be eligible to be relicensed until 2023.

In the bankruptcy filing, Dutrow said he owes an Albany, N.Y., law firm, Hinckley Allen Snyder, $83,803 in legal fees. He also lists unpaid debts to a feed company near Belmont Park in New York and to a collection agency in Kentucky totaling $300,000.