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Vertem ordered to cease operations

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  • #1646157
    apracing
    Participant
    • Total Posts 4009

    Only the Racing Post still thinks they are entered. Initial entries for both races were made prior to April 6th, but both races required additional payments to stay in them later in April.

    This from the official conditions for the York race for example:

    Enter by noon, April 4th and pay £475 stake
    Scratch by noon on April 25th or pay £550

    No payment on April 25th, so the horse is automatically scratched.

    #1646163
    Avatar photoArchipenko
    Participant
    • Total Posts 272

    Understood @apracing, thanks.

    According to the Facebook page, they still appear to be training horses.

    #1648032
    Avatar photoArchipenko
    Participant
    • Total Posts 272

    Another belated update.

    Work to redevelop a famous Middleham racing stables yard has come to a stop following an investigation into financial irregularities.

    Contractors working on the overhaul of the Manor House Farm yard have left the site and the gate has been locked with a chain and padlock.

    Work stops on major racing development near Middleham

    #1648033
    Avatar photoIanDavies
    Blocked
    • Total Posts 12996

    Archipenko with the latest!

    It was only ever a matter of time!

    I am "The Horse Racing Punter" on Facebook
    https://mobile.twitter.com/Ian_Davies_
    https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
    It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

    #1648036
    Avatar photoArchipenko
    Participant
    • Total Posts 272

    I am not going to win “investigative journalist of the year” with these three week late updates though.

    #1648039
    Avatar photoIanDavies
    Blocked
    • Total Posts 12996

    It’s all relative!

    It might still be enough to going to win “TRF investigative journalist of the year!”

    I am "The Horse Racing Punter" on Facebook
    https://mobile.twitter.com/Ian_Davies_
    https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
    It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

    #1649542
    Avatar photoArchipenko
    Participant
    • Total Posts 272
    #1649547
    apracing
    Participant
    • Total Posts 4009

    They had five runners on Saturday, including a couple that picked up place money at Goodwood. And that clearance came through just in time for Horton to make entries for the Hunt Cup and the Wokingham.

    #1649698
    Avatar photoIanDavies
    Blocked
    • Total Posts 12996

    Racing Post: “Racehorse owner John Dance is being investigated over criminal offences of fraud and money laundering as financial investigators revealed on Wednesday they were aware of a potential black hole of more than £80 million in client assets and money associated with his wealth management business.”

    That’s a lot of hob nobs.

    I am "The Horse Racing Punter" on Facebook
    https://mobile.twitter.com/Ian_Davies_
    https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
    It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

    #1649709
    Avatar photoArchipenko
    Participant
    • Total Posts 272

    Thanks for the update @IanDavies.

    #1649720
    Avatar photoRefuse To Bend
    Participant
    • Total Posts 4239

    £80m black hole, could happen to anyone there is probably a simple explanation.

    The more I know the less I understand.

    #1649722
    Avatar photoIanDavies
    Blocked
    • Total Posts 12996

    “Thanks for the update @IanDavies.”

    You’re welcome!

    I am "The Horse Racing Punter" on Facebook
    https://mobile.twitter.com/Ian_Davies_
    https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
    It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

    #1652166
    Cancello
    Participant
    • Total Posts 268

    I notice that Tom Dascombe has three Coverdale Stud animals entered in the next few days; Lunar Shine, a 300,000 Kodiac who was listed in training with Horton in Horses In Training, a Mehmas filly called Divergency and a Dark Angel colt named Miggy Magic.

    The latter two were not listed in training but it may have been an incomplete entry and I’m assuming they’ve come from there – they were not acquired in the breeze ups.

    Though Dascombe has only had 3 winners so far this season, his juveniles are starting to run well and I feel things are picking up for him – especially given the circumstances he found himself in.

    #1655060
    Avatar photoArchipenko
    Participant
    • Total Posts 272

    Four horses belonging to John Dance, the owner at the centre of a fraud and money laundering probe by the City regulator, sold for a combined 130,000gns (£136,500) at the Tattersalls July Sale in Newmarket on Tuesday.

    A further four horses owned by Dance – Crossfader, Dreamfeeder, Groove Nation and Mass Consumption – are set to go under the hammer in Newmarket on Wednesday.

    Creditors are forecast to receive just 21p for every £1 owed to them **ouch**

    https://www.racingpost.com/news/britain/four-horses-owned-by-john-dance-sell-for-130000gns-on-day-one-of-tattersalls-july-sale-at-newmarket-akMuG6H3018G/

    #1655061
    Avatar photoIanDavies
    Blocked
    • Total Posts 12996

    “Creditors are forecast to receive just 21p for every £1 owed to them”

    Isn’t that roughly the same average rate of return as UK racehorse ownership?

    I’m no expert on the world of high finance, but that doesn’t sound like a very high rate of return on investment to me – especially with inflation running at the rate it is!

    I am "The Horse Racing Punter" on Facebook
    https://mobile.twitter.com/Ian_Davies_
    https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
    It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

    #1655062
    Avatar photoArchipenko
    Participant
    • Total Posts 272

    I would hardly call owning a racehorse an “investment” in the first place 😂.

    Here is an interesting article on creditor recovery following the well publicised failure of Lehman Brothers.

    Creditor Recovery in Lehman’s Bankruptcy

    #1655063
    Avatar photoIanDavies
    Blocked
    • Total Posts 12996

    “I would hardly call owning a racehorse an “investment” in the first place 😂.”

    Top banter!

    Thanks, as ever, for the updates, Archipenko.

    I am "The Horse Racing Punter" on Facebook
    https://mobile.twitter.com/Ian_Davies_
    https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
    It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

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