more owners for curlin

[Danzig]

judge ruled that 418 complainants own 20% of curlin.


http://www.thoroughbredtimes.com/nat...-interest.aspx

i'd imagine that 20% will get snapped up about as quickly as the stud deal will be made, now that this is moving along towards resolution.

[sumitas]

Seems a fair judgement to me.

[Riot]

I love it!

The new owners should realize they only own about $2000 worth of Curlin each ...

But let's say Curlin is worth $10 million dollars and sells for same tomorrow. 20% of that is 2 million. Divided by 418 =

$4784.69

Wow.

What is their lawyer so excited about again?

[Riot]

Originally Posted by merasmag

where do i send my postcard

You missed it!

You were supposed to send the postcard in a few years ago, when Shirley & Cunningham had TV ads on here in Lexington, saying, "If you or any members of your family have ever taken Phen-fen, and have any symptoms ranging from sleepless nights to itchiness, please call our office, you may qualify for a class-action lawsuit .... "

Well, that $5K apiece from Curlin will go far towards trying to settle the $100K each of them is due from the jailed lawyers in their settlement.

[Riot]

I wonder if Mrs. Cunningham will have to sell the owners Breeder's Cup trophy copy she gets? Ebay?

[lemondropkid1]

This sucks. So much for any chance of getting to see him run next year.

This makes me like Curlin so much more. I just could not bring myself to like a horse a lot if one of his owners was a crook. This is great news for the 418 people. I would say Curlin is worth at least 30 million dollars.

[Riot]

Originally Posted by lemondropkid1

This sucks. So much for any chance of getting to see him run next year.

Well, they only own 20% .... ?

[Riot]

Originally Posted by miles2135

This makes me like Curlin so much more. I just could not bring myself to like a horse a lot if one of his owners was a crook. This is great news for the 418 people. I would say Curlin is worth at least 30 million dollars.

Now we're talking $14,354.07 apiece - gettin' up to real money

[Riot]

Wait, there is indeed more!: from DRF today

"Angela Ford, the attorney for the plaintiffs, said that her clients wished to sell their interest in the horse, and that Curlin's other partners have also decided to sell. Curlin's victory in the Breeders' Cup Classic has made him an odds-on favorite to be voted Horse of the Year and champion 3-year-old colt.

"Everyone has agreed to sell, but there's no agreement yet on whether that will be done by a private sale or at public auction," Ford said.

An attorney for Jackson, Kevin McGee, declined to comment on Friday. Officials for Padua Stable were not immediately available for comment on Friday morning.

Gallion and Cunningham bought Curlin as a yearling for $57,000 at public auction. They sold 80 percent of the horse to the other partners early this year for $3.5 million.

Ford said that the ruling will also entitle the plaintiffs to Midnight Cry's portion of Curlin's earnings. Curlin's share of the Classic purse was $2.7 million. Though it was unclear whether the Breeders' Cup had issued checks for purses by Friday, Ford said that the plaintiffs would be entitled to any assets held by Cunningham and Gallion, which would enable them to claim the earnings as their own regardless of whether the check had been distributed.

[CoronadosQuest]

http://news.bloodhorse.com/viewstory.asp?id=41844

One of the owners of likely Horse of the Year Curlin claims the recent order handed down by a Kentucky judge only affects the minority interest of embattled attorneys William Gallion and Shirley Cunningham Jr.

An attorney representing Jess Jackson's Stonestreet Stables issued a statement Nov. 2 clarifying the position of the owner-partner.

"The order ... entered by Judge (William) Wehr in Boone County circuit court applies only to the 20% interest in Curlin owed by Mr. Gallion and Mr. Cunningham through Tandy LLC. That entity has done business using the name Midnight Cry Stables," Lexington-based attorney Richard Getty said. "The order has absolutely has no effect in the other ownership interests in Curlin, none of which have been sold."

Getty declined to comment further, other than to say: "We are evaluating the overall situation."

[otisotisotis]

Talked to my cousin's wife today (she works at the jail), said if they weren't such scoundrels she would almost feel sorry for these old guys. Apparently there is another old guy in cahoots with them that can barely get around.
I guess even the rich like to be richer....

[Riot]

See today's bloodhorse.com: Attorney says the Charging Order does not say the 418 "own" Curlin, he says they do not have any ownership interest, are simply are entitled to money from him.

There is a link to the actual Charging Order on the BH page

[Pedigree Ann]

Can 20% of the ownership force the 80% to do something they don't want to do? And certainly the this ruling will be appealed, tying things up in court for another year or two.

I also remember Cunningham trolling for clients on the local TV channels and it struck me as distasteful at the time. Especially when I recalled the situation of my brother-in-law's sister-in-law (my husband's brother's wife's sister) in Texas, the widow of a cop murdered during a routine traffic stop, with a special-needs child, and needing serious heart and lung treatment after taking phen-fen.

[Danzig]

the group of plaintiffs at this point appear to only have rights to the midnight cry portion of the purse. i doubt that they can have any affect on curlins future. but it does appear at this point that curlin may be going thru the ring, much like half ours, in order to dissolve the partnership in the horse.

as for lawyers, we've gotten several letters from them after kellys accident--all addressed to kelly, a minor. of course all the offices apologized profusely when tony called and pointed that out to them.

[Cannon Shell]

Originally Posted by Danzig

the group of plaintiffs at this point appear to only have rights to the midnight cry portion of the purse. i doubt that they can have any affect on curlins future. but it does appear at this point that curlin may be going thru the ring, much like half ours, in order to dissolve the partnership in the horse.

as for lawyers, we've gotten several letters from them after kellys accident--all addressed to kelly, a minor. of course all the offices apologized profusely when tony called and pointed that out to them.

Hey minors need the easy cash too!!

[ELA]

How many attorney's on this thread? LOL. I wondered how long it would take before accurate and reasonable reports came to light. It's a charging order, that's all. They can't force liquidation. They get no voting rights or control. They cannot place their "fingers or hands on the levers of control (for those of you who are attorneys out there). They have nothing but a charging order. There will be no shareholder suppression suit, or anything of the like (regardless, the plaintiffs are not shareholders), no action taken against the other owners (Jackson, Sanan and Bolton), and nobody knows if the latter will take action. All the commentary is nothing more than rhetoric.

The plaintiffs attorney can say anything she wants -- she should keep on talking -- it's entertaining.

Eric

[Danzig]

Originally Posted by Cannon Shell

Hey minors need the easy cash too!!

easy cash? lol
amazing how many people told us to get a lawyer...unnecessary in this case for sure.

[Riot]

Can 20% of the ownership force the 80% to do something they don't want to do?

If I were part of the 80%, I'd buy out the 20%, to get them out of the picture now and in the future, regarding any potential sale, racing, stallion income, etc.

[Cannon Shell]

Originally Posted by ELA

How many attorney's on this thread? LOL. I wondered how long it would take before accurate and reasonable reports came to light. It's a charging order, that's all. They can't force liquidation. They get no voting rights or control. They cannot place their "fingers or hands on the levers of control (for those of you who are attorneys out there). They have nothing but a charging order. There will be no shareholder suppression suit, or anything of the like (regardless, the plaintiffs are not shareholders), no action taken against the other owners (Jackson, Sanan and Bolton), and nobody knows if the latter will take action. All the commentary is nothing more than rhetoric.

The plaintiffs attorney can say anything she wants -- she should keep on talking -- it's entertaining.

Eric

Where can I get some of this Phen -fen stuff? I'm sure I am immune to any diet drug and I would just like to settle for a breeding right...