Jooste relinquishes his colours

Seemingly it’s his red and white silks he’s relinquished

Bob Brogan wrote: Seemingly it’s his red and white silks he’s relinquished

How many horses raced in these colours? I would guess none.

ABSA caning Mayfair for 266bar.
But hats off to them, Tara 4 winners and a 2nd.
Maybe they can win their way out :woohoo:

so Absa want 260
Investec want 200
Sanlam want 800 million rand.
i cant sleep if i owe a few thousand

Sylvester wrote: so Absa want 260
Investec want 200
Sanlam want 800 million rand.
i cant sleep if i owe a few thousand

. Sylvester you quite right lets say he has 400 horses in training and he sells all at 1 million each which is highly improbable Still only 400 million max to be recovered . Hope the people appointed know and can identify 1 horse from another.

Len Sham wrote:

Sylvester wrote: so Absa want 260
Investec want 200
Sanlam want 800 million rand.
i cant sleep if i owe a few thousand

. Sylvester you quite right lets say he has 400 horses in training and he sells all at 1 million each which is highly improbable Still only 400 million max to be recovered . Hope the people appointed know and can identify 1 horse from another.

its the money he took out that they want i think in August

mr hawaii wrote:

Len Sham wrote:

Sylvester wrote: so Absa want 260
Investec want 200
Sanlam want 800 million rand.
i cant sleep if i owe a few thousand

. Sylvester you quite right lets say he has 400 horses in training and he sells all at 1 million each which is highly improbable Still only 400 million max to be recovered . Hope the people appointed know and can identify 1 horse from another.

its the money he took out that they want i think in August

mr h I think so what I am saying in the overall exposure and loss to the banks the race horses are very small .

Len Sham wrote:

mr hawaii wrote:

Len Sham wrote:

Sylvester wrote: so Absa want 260
Investec want 200
Sanlam want 800 million rand.
i cant sleep if i owe a few thousand

. Sylvester you quite right lets say he has 400 horses in training and he sells all at 1 million each which is highly improbable Still only 400 million max to be recovered . Hope the people appointed know and can identify 1 horse from another.

its the money he took out that they want i think in August

mr h I think so what I am saying in the overall exposure and loss to the banks the race horses are very small .

yes and they are living things - the liquidators should approach a few guys like bruss maybe freeman and rowlett and ask for advice on how to deal with these horses -

mr hawaii wrote:

Len Sham wrote:

mr hawaii wrote:

Len Sham wrote:

Sylvester wrote: so Absa want 260
Investec want 200
Sanlam want 800 million rand.
i cant sleep if i owe a few thousand

. Sylvester you quite right lets say he has 400 horses in training and he sells all at 1 million each which is highly improbable Still only 400 million max to be recovered . Hope the people appointed know and can identify 1 horse from another.

its the money he took out that they want i think in August

mr h I think so what I am saying in the overall exposure and loss to the banks the race horses are very small .

yes and they are living things - the liquidators should approach a few guys like bruss maybe freeman and rowlett and ask for advice on how to deal with these horses -

now we talking sense because the trainers can't be expected to feed and train these horse with no guaranteed payment confirmed. Although I have no doubt many would try to ensure that the horses are cared for irrespective.

Len Sham wrote:

mr hawaii wrote:

Len Sham wrote:

mr hawaii wrote:

Len Sham wrote:

Sylvester wrote: so Absa want 260
Investec want 200
Sanlam want 800 million rand.
i cant sleep if i owe a few thousand

. Sylvester you quite right lets say he has 400 horses in training and he sells all at 1 million each which is highly improbable Still only 400 million max to be recovered . Hope the people appointed know and can identify 1 horse from another.

its the money he took out that they want i think in August

mr h I think so what I am saying in the overall exposure and loss to the banks the race horses are very small .

yes and they are living things - the liquidators should approach a few guys like bruss maybe freeman and rowlett and ask for advice on how to deal with these horses -

now we talking sense because the trainers can't be expected to feed and train these horse with no guaranteed payment confirmed. Although I have no doubt many would try to ensure that the horses are cared for irrespective.

they can't just box them and wait for months for an auction - i hope he at least pays traing fees for jan so they can be fed even if they don't run - but if things fall apart maybe kantor will ensure they eat and get vetted until they are sold

Mr H if I understand the application if successful it will be back dated to the banks request date therefore to me training fees will be for the liquidators account. I am Not a legal expert.

Len Sham wrote: Mr H if I understand the application if successful it will be back dated to the banks request date therefore to me training fees will be for the liquidators account. I am Not a legal expert.

Len nothing is ever for the liquidators account, they charge they don't pay. In essence and simplistically, a liquidator is appointed to manage the financial affairs of a business/entity that is in financial trouble. This is done to protect creditors and ensure that further fraud is not committed. So in the Mayfair case, controls over funds coming in and going out will occur. Then Markus, Derek, or his polo steek, will not get paid unless there is good reason to. Maintaining the Camps Bay love nest will not qualify. All suppliers in the racing chain from trainers to transporters then are treated as creditors, and after due diligence is done on a creditors claim, payment occurs, if funds are available.

This is the reason that monies from stakes and sale of horses needs to be regulated.