Mohamed Hadid, Father of Gigi & Bella Hadid, Files for Bankruptcy

Mohamed Hadid is filing for bankruptcy.

The 71-year-old father of Gigi and Bella Hadid and real estate tycoon declared Chapter 11 bankruptcy on behalf of his company in California according to court documents, Daily Mail reported on Thursday (November 28).

His attorney submitted the filing on Wednesday (November 27) according to the report, and told the judge that Mohamed “was broke.”

One week before, a judge reportedly declared that his Los Angeles mega-mansion is dangerous and “must come down.”

His lawyer also reportedly said not only could he “‘not afford’ to pay for the tearing down of his giant home, but he also didn’t have the $500,000 fee being charged by the judge appointed receiver to supervise the demolition.”

Judge Karlan then took away the responsibility of demolishing the home and gave the job to Douglas Wilson, who oversaw the $35 million repair of Donald Trump‘s California golf course.

Ariel Neuman, attorney for the neighbors, said: “It’s amazing to me because he (Hadid) just bought a multi-million dollar home in Beverly Hills. We don’t accept this explanation. We don’t accept Mr. Hadid’s word for anything.”

READ MORE: Gigi Hadid Poses With Her Parents Yolanda & Mohamed at TommyXLewis Launch Party