Lake bankrupty

[sumitas]

Originally Posted by Linny

I agree with Steve. The sorry fact is that there an awful lot of people in this biz that don't pay their bills. It doesn't take long for an owner with several horses to run up a quarter million in debt on day rates and vet and shoeing etc. The trainer puts up his money to feed and care for the horse (that often is not worth the amount expended) in the hope that if it earns something that the trainer will get paid.
If the trainer has physical custody of the horse he is expected to provide at least basic care. Not to do so will bring the authorities on cruelty charges. In many cases that care is provided and not reimbursed until legal action or threats are involved.
I don't know Lake or anything about his situation but I wouldn't be surprised if his problems stemmed from an inability to collect on money owed to him. I have met him only once and don't know anything at all about how he runs his business so I have no comment about it.

Hard to comprehend that legitimate expenses "doesn't take long ... to run up a quarter million in day rates, vet , and shoeing." I'd have to question if the owner was getting fleeced .