Olympic horse 'London' seized.
 
 

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Olympic horse 'London' seized.

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  • Olympic horse london seized
  • The horse london seized

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  • 1 Post By tlfc

 
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    08-12-2012, 12:23 PM
  #1
Banned
Olympic horse 'London' seized.

Sounds like some super shady dealings from the owners, and the result is a seized horse.

Olympic silver medalist London seized | worldofshowjumping.com
     
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    08-12-2012, 04:16 PM
  #2
Foal
Wow...how terrible for the rider. Hopefully he is allowed to continue to ride and show the horse. I hope things get worked out quickly.
barrelbeginner likes this.
     
    08-12-2012, 04:32 PM
  #3
Green Broke
That is a surprise. I should have thought that at that calibre and level of competition the calibre and level of 'ownership' would be on equal par -- guess not.
     
    08-12-2012, 05:30 PM
  #4
Super Moderator
It is the fact that the horses - owned by the father's company were probably classed as 'assets'.
When the company got into financial difficulties they were sold to the son and his company - probably for very little.
The fact that the horses were seized does not mean that they are actually taken away from the rider, just that they cannot be sold from where they are.
     
    08-13-2012, 12:51 PM
  #5
Banned
It's looking like London will be sold after Weds court hearing.

If only I were a millionaire!

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    08-13-2012, 02:38 PM
  #6
Yearling
Quote:
Originally Posted by Chevaux    
That is a surprise. I should have thought that at that calibre and level of competition the calibre and level of 'ownership' would be on equal par -- guess not.
Several years ago there was a nasty legal dispute about ownership of Curlin, arguably one of America's best racehorses. Two of his original owners were lawyers who themselves defrauded hundreds of their own clients. Because the horse was owned in partnership, there was further legal action about who should benefit from the sale of the original owners' portion of the horse. Really messy stuff.
     
    08-13-2012, 09:58 PM
  #7
Green Broke
Quote:
Originally Posted by egrogan    
Several years ago there was a nasty legal dispute about ownership of Curlin, arguably one of America's best racehorses. Two of his original owners were lawyers who themselves defrauded hundreds of their own clients. Because the horse was owned in partnership, there was further legal action about who should benefit from the sale of the original owners' portion of the horse. Really messy stuff.
How was that resolved?
     
    08-15-2012, 01:38 PM
  #8
Yearling
Quote:
Originally Posted by Chevaux    
How was that resolved?
I believe it ultimately had to be settled privately, according to this article.

In 2009, the lawyers were formally convicted of federal charges and had to repay their clients with their assets, including their 20% ownership share of the horse. I'm not sure how that 20% stake was unwound legally. Most articles about Curlin's stud career reference "majority owner Jess Jackson's Stonestreet Stable," so it very well could be the case that the legal system is still grinding along.

(I should say, I'm just a racing fan, I have no connection to any of this but just recall following along with the news as it all unfolded a couple of years ago.)
     
    08-15-2012, 02:05 PM
  #9
Green Broke
Egrogan - thanks.
     

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