more owners for curlin - Page 2

Cannon Shell · #21 11-04-2007, 12:22 PM

Quote:

Originally Posted by Riot

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.

Yeah but at what price? He probably isn't worth as much as they think he is...

Riot · #22 11-04-2007, 12:31 PM

Quote:

Originally Posted by Cannon Shell

Yeah but at what price? He probably isn't worth as much as they think he is...

Yes, that would be the risk - overpaying to buy them out.

I'm no attorney, but the Charging Order clearly states, "rights of an assignee" only. Thus no imput into what happens to Curlin, as they do not take over Midnight Cry's ownership interest.

So it seems attorney Ford spoke out of turn implying that her clients "owned" 20% of Curlin. Seems they only are entitled to any monies from that 20% interest (Midnight Cry's LLC portion)

Now, attorneys for the incarcerated lawyers are saying that the assignee only gets any money when money is distributed by the LLC.

Implying to me (and I am NOT a lawyer) that if the BC purse money and any monies obtained from sale of the horse are held in the account of the ownership partnership, and not disbursed to the owners (depends upon what the ownership partnership agreed to and has in writing, I guess, regarding same - disbursements quarterly, yearly, monthly, etc?) - they get nothing until a disbursement occurs.

SniperSB23 · #23 11-05-2007, 10:14 AM

Quote:

Originally Posted by Riot

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.

But why would the 20% want to sell out to the 80% when they could get more money in an open auction?

Cannon Shell · #24 11-05-2007, 02:39 PM

Quote:

Originally Posted by SniperSB23

But why would the 20% want to sell out to the 80% when they could get more money in an open auction?

I am not so sure there is that much money out there for this horse...

SniperSB23 · #25 11-05-2007, 02:43 PM

Quote:

Originally Posted by Cannon Shell

I am not so sure there is that much money out there for this horse...

Do you actually think the 80% would offer them more than they'd get in a free market though? That would be pretty stupid of them.

Cannon Shell · #26 11-05-2007, 02:45 PM

Quote:

Originally Posted by SniperSB23

Do you actually think the 80% would offer them more than they'd get in a free market though? That would be pretty stupid of them.

It is not exactly a free market as there are only 2 or 3 enteties that have the $ to give them what they will want. And from what I hear there is not much interest from those parties.