Did you read the article? The bank also did not request to be listed as loss payee on Zayat's insurance.

nope.

not common at all.. I had never heard of it and I asked my friend who has worked here 13 years and she had never heard of it (which made me feel a little better).

But as we learned it does happen in odd situations!

Zayat deserves to be praised for trying everything to get this horse well, even though its not his horse anymore.

you need to read the update about the horse-it explains why there was a payout. i received a payout on a car that was 'totalled'. i paid back the $100 salvage fee and kept the car on the road (insurance purposes for teens). if the bank didn't require it at the time of the policy being written, they can't retroactively go back and claim it now. 5/3 may want out of equine lending, but they're leaning heavily on wanting loans paid NOW, and are seeking to force their customers to pay in full. sounds to me that the bank may have the issue, not the customer.

And about a 1% chance of him becoming a good stallion