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Quality Road Colt Tops OBS Spring Sale’s Second Session

Hip No. 381, a son of Quality Road consigned by de Meric Sales, Agent, went to Speedway Stables, LLC, for $1.5 million to top the second session of the Ocala Breeders' Sales Company's 2021 Spring Sale of 2-Year-Olds in Training.

The bay colt, who breezed an eighth in :10 flat at Tuesday's Under Tack session, is a half brother to stakes placed Coffee Crush out of graded stakes winner Wasted Tears, by Najran.

Hip No. 463, a daughter of Arrogate consigned by Mayberry Farm, Agent, was sold to Katsumi Yoshida for $1 million. The gray or roan filly, whose eighth in :10 flat was co-fastest at the distance at Wednesday's under tack session, is out of graded stakes winner Amen Hallelujah by Montbrook, a daughter of stakes winner Sara's Success.

Mike Talla, West Point Thoroughbreds, L.E.B., Agent, paid $750,000 for Hip No. 490, a son of Arrogate consigned by Wavertree Stables, Inc. (Ciaran Dunne), Agent. The gray or roan colt, who breezed an eighth in a co-fastest :10 flat on Wednesday, is a half brother to millionaire grade one stakes winner Heart to Heart out of Ask the Question, by Silver Deputy.

Hip No. 605, a son of Union Rags consigned by Top Line Sales LLC, Agent, went to Repole Stable, Inc. for $750,000. The dark bay or brown colt, who worked a quarter on Wednesday in :20 4/5, is a half brother to stakes placed Champagne Humor out of Champagne Ice, by Roman Ruler, a full sister to Belmont Stakes winner Ruler On Ice.

Hip No. 594, a daughter of Curlin consigned by Wavertree Stables, Inc. (Ciaran Dunne), Agent, was sold to Norman W. Casse for $600,000. The chestnut filly, who worked a co-fastest eighth in :10 flat on Wednesday, is a half sister to stakes winner Checkered Past out of Catch the Flag, by A.P. Indy, a daughter of champion Catch the Ring.

Hip No. 512, a daughter of Maclean's Music consigned by Paul Sharp, Agent, was purchased for $575,000 by Red Baron's Barn & Rancho Temescal. The chestnut filly, whose eighth in :10 flat was Wednesday's co-fastest, is out of Beautified, by Congrats, a daughter of graded stakes winner Makeup Artist.

Hip No. 365, a daughter of Into Mischief consigned by de Meric Sales, Agent, was sold to Mike Ryan, Agent, for $500,000. The bay filly, who breezed an eighth in :10 flat on Tuesday, is out of Versailles Song, by Unbridled's Song, a daughter of grade one stakes winner Versailles Treaty.

Donato Lanni, Agent for Frank Fletcher Racing, paid $490,000 for Hip No. 530, a son of Runhappy consigned by Wavertree Stables, Inc. (Ciaran Dunne), Agent. The dark bay or brown colt, a half brother to graded stakes placed Hardworkcleanlivin out of Bible Belt, by Pulpit, breezed an eighth in a co-fastest :10 flat on Wednesday.

Hip No. 394, a daughter of Upstart consigned by Tom McCrocklin, Agent, was purchased by Spendthrift Farm LLC / Myracehorse.com for $450,000. The dark bay or brown filly, who turned in an Under Tack quarter in :20 4/5 last Tuesday, is out of Who'sbeeninmybed, by The Daddy, a half sister to graded stakes winner Mr. Bowling.

For the day, 181 horses brought a total of $21,056,500 compared with 158 selling for a total of $15,990,000 at last year's second session. The average price was $116,334, up 15% compared to $101,203 in 2021 while the median price was $47,000, compared with $55,000 a year ago. The buyback percentage was 18.5 percent; it was 19 percent last year.

The Spring Sale continues Thursday at 10:30 a.m. Hip No's 609 – 912 will be offered for sale.

To view the full results from Wednesday's session, click here.

The post Quality Road Colt Tops OBS Spring Sale’s Second Session appeared first on Horse Racing News | Paulick Report.

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Trustee Alleges Zayat Transferred $200K+ Just Before Bankruptcy Filing

In an effort to claw back at least $200,000 in transfers by Ahmed Zayat that allegedly constitute “fraudulent conveyance” because they occurred just prior Zayat's filing for Chapter 7 bankruptcy protection, the trustee in charge of vetting Zayat's case filed two complaints in federal court Wednesday that aim to recover that money so it might instead go toward paying creditors.

Zayat claims to be $19 million in debt, and a massive chunk of that money is owed to Thoroughbred-related individuals and entities.

According to documentation filed Apr. 21 in United States Bankruptcy Court (District of New Jersey) by trustee Donald Biase, “The Transfer[s] were made with actual intent to hinder, delay, or defraud creditors of the Debtor.”

As an exhibit, Biase attached a copy of a Sept. 3, 2020, domestic wire transfer for $175,000 between two law firms.

Zayat's name is not listed on that TD Bank document. But the trustee, presumably through forensic accounting practices, is alleging that “the Debtor's books and records disclose” that Zayat orchestrated the transaction, which was allegedly made “without the Debtor receiving a reasonably equivalent value in exchange.”

The recipient of the money was listed as Cohen Tauber Spievack & Wagener, a New York-based law firm. According to a posting from 2015 on that company's website, the firm has represented Zayat in court and “advises Zayat Stables on transactional matters and sponsorship deals related to American Pharoah.”

The timing of that $175,000 transaction is notable because five days later, Zayat filed his petition for bankruptcy protection, signing off on paperwork that alleged he only had $314.22 to his name.

In a separate court complaint, the trustee also wants $28,848 back from New York University (NYU) that Zayat allegedly paid to the school within 90 days prior to his bankruptcy filing.

Zayat has four children, and they all either graduated from or are/were attending NYU. The youngest of the siblings, Emma, just enrolled at the school in 2020, according to her LinkedIn profile (Emma was the inspiration for the name of Littleprincessemma, the dam of American Pharoah).

Even if that money was paid for tuition or a pre-existing debt, the complaint states that (among a list of other legal reasons) the trustee can try to reclaim those funds because “the Debtor was insolvent at the time and [NYU] had reasonable cause to believe that the Debtor was insolvent.”

In the cases of both allegedly fraudulent transfers, the trustee is going after the money not by chasing Zayat himself for it, but by listing both the law firm and NYU as defendants, meaning they would be on the hook for repayment if the judge rules in the trustee's favor.

The post Trustee Alleges Zayat Transferred $200K+ Just Before Bankruptcy Filing appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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CHRB Approves Stricter Penalties For Whip Use, Hopes To Have New Rule In Place For Breeders’ Cup

Hoping to have a new rule in place for the 2021 Breeders' Cup at Del Mar in November, the California Horse Racing Board approved on Wednesday new, stricter penalties to impose on jockeys for excessive whip use, reports the Daily Racing Form.

Since Oct. 1, California jockeys have been limited to six underhanded strikes of the whip, and are allowed two strikes before pausing to allow for a response. Stewards have fined jockeys a total of $28,300 since the new rules were implemented, primarily for using the whip more than six times.

In a unanimous vote, the CHRB approved a rule establishing a minimum fine of $500 and possible three-day suspension for excessive whip use. The current rule calls for a maximum fine of $1,000, along with the possible three-day suspension.

The CHRB's new penalty rule will have a 45-day public comment period before coming back for final approval.

“I think this protects the domestic rider,” said CHRB Chairman Gregory Ferraro. “Our concern had been that riders, particularly from foreign countries, could violate the rule and a $500 fine and three-day suspension would be meaningless to them. This allows for considerably more punishment for egregious violations and makes it more fair to our domestic riding colony.”

“This addresses the concern that I had right along, that has been any excessive whipping and putting in-state riders at a disadvantage,” echoed commissioner Oscar Gonzalez. “I believe this measure addresses any concerns I had. I'm hoping this is something we can adopt and have in place by Breeders' Cup.”

Report: Aquis Group Cutting Ties With Phoenix After Failure ‘To Be Honest And Transparent’

Following last week's announcement that New South Wales and Racing Victoria have frozen the prize money of horses owned by Amer Abdulaziz' Phoenix Thoroughbreds over allegations of money laundering, the Aquis Group has decided to cut ties, reports the Australian Financial Review. A group operated by Hong Kong billionaire Tony Fung, Aquis owns multiple horses in tandem with Phoenix, including G1 Golden Slipper winner Farnan, as well as 19 horses purchased at the Magic Millions Gold Coast Yearling Sale in January.

Aquis' decision is predicated by the fact that Phoenix did not disclose the actions of racing authorities to freeze prize money.

“That conduct of Phoenix has failed to meet our expectations,” a spokesman for Aquis told the AFR. “Any true co-owner should inform their partner of such action by authorities. Phoenix failed to be honest and transparent with us over the prize money freeze, which has rendered the relationship untenable.”

Phoenix reportedly is not permitted to race in France, United Arab Emirates or the United Kingdom. No state racing commissions in the United States have taken regulatory action against Phoenix.

Phoenix continues to be active at U.S. bloodstock sales, including the $1.2 million bid by Phoenix agent Gerard Butler to buy out a partner in stakes winner Lady Apple last November at Fasig-Tipton. Shannon Arvin, president and CEO of Keeneland, released the following statement concerning Phoenix being allowed to participate in sales after court documents filed by a federal prosecutor in a money laundering case involving the multi-billion-dollar OneCoin cryptocurrency scam, accused Abdulaziz of being a money launderer for OneCoin.

“Keeneland is aware of the allegations that may involve Phoenix Thoroughbreds and is monitoring the situation,” said Arvin. “However, it is our understanding that Phoenix Thoroughbred has not been indicted by a grand jury, let alone convicted on any allegations. Keeneland will continue to follow any developments in this matter, and certainly will comply with any regulatory or legal action or direction from a governing authority.”

Since the money laundering accusations were made in federal court against Abdulaziz, it is believed that he has not traveled to the United States from Dubai, where he resides.

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