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Offline Arsenal

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O.P. « 2018-Nov-11, 10:21 AM »
Racehorse buyers sue after paying big for ‘dud’
KAY DIBBEN Sunday Mail
A BRISBANE solicitor and a Gold Coast businessman are suing for damages after paying $168,000 for a racehorse they claim is a worthless dud.

Businessman Leslie Cowell and solicitor Gregory Ryan bought Sokudo from an owners’ syndicate through bloodstock agents after a veterinary check.

In their District Court claim, they allege their agent was told by James Harron, director of James Harron Bloodstock, that the horse was “sound as a bell” and had no issues.

They claim Mr Harron told their agent the horse was being sold by the owners’ syndicate because it was not up to breeding standard.

They also claim the sale was subject to a veterinary exam and that the purchase agreement had an implied term that the horse was reasonably fit for racing and was of “merchantable quality”.

According to documents filed in court, a report by NSW vet Dr Angela McLeod did not identify any issue that would prevent Sokudo from racing.
Mr Cowell and Mr Ryan paid $165,000 for the horse on July 18.

 It was later allegedly found to suffer from a significant lesion of the right front limb and a pathological association with the medial suspensory ligament attachment to the sesamoid bone. The buyers claim this made it unfit as a racehorse.

They say Mr Harron made false representations and his conduct was misleading or deceptive. They also claim to have suffered a loss of $179,814 and will have to pay $1489 a month in agistment and farrier fees.

They say Sokudo has a fair market value of “nil” dollars.

They are suing James Harron Bloodstock, James Harron, members of the syndicate, and Dr McLeod for damages for allegedly negligent misstatement. They are also suing for damages for breach of contract.

The defendants are yet to file their responses.ENDS

I've not heard of Sokudo the horse before this item but it appears that the buyers had the horse vetted and found no issues......... there's no information on the time gap between July 18 and when the issues were found ......certainly a lot of money down the drain...... will be an interesting case once it gets to court..we might get lucky if Kay Dibben follows up with the defence response.

Many years ago at a tried harness horse sale at Rocklea I bought Dunbury Frost a really good type which the auctioneer declared came with a Vet's certificate of was an impulse buy ...... I didn't inspect the horse beforehand and when the hammer fell and I took delivery I found the horse had a wind gall as big as a cricket ball on its fetlock was unsound and never raced ........the vet who issued the certtificate must have known the horse was unsound...... highly unprofessional but I didn't complain just wrote off my loss as I was a mug to do what I did.   the horse wouldn't stand a preparation and we gave him to a lady to use as a carriage horse.
Apart from the experience and never again trusting the seller  the only thing I got was a second hand rug and a head stall which the trainer finished with.

Giddy Up :beer: 

« Last Edit: 2018-Nov-11, 10:29 AM by Arsenal »

Offline Dave

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« 2018-Nov-22, 12:30 PM Reply #1 »
Been in the industry for many a long year, Rule number one is never, never, never use the vendors VET, there is no interest like self interest.....Rule number 2 is always assume everyone is lying about everything, do your own due diligence, never get in a game where you are out of your depth.........
Gee I have seen many rich people totally screwed in racing and they still don't know they were cheated, they just think they were "unlucky" insiders sell the story that buying yearlings is ALL luck of the draw, it isn't, sure bad luck happens.....but it ain't all bad luck!
Big name trainers have cheated many an unwary buyer......because they can! is a very hard case to prove but easy to see when it happens