FRANKFORT, KY -- A judge will hear details in open court Monday on a private bid by winemaker and Thoroughbred breeder Jess Jackson for the minority share in Horse of the Year Curlin, reports the Lexington Herald-Leader in its Saturday edition.
Judge Roger Crittenden said those details will include a dollar figure for the 20 percent that Jackson does not already own.
On Thursday, a court-appointed receiver made a motion in a Franklin County court to approve the private sale, a week after a sealed-bid process failed to come up with an acceptable bid, reports the Herald Leader.
The receiver will present testimony on the bid by a corporation formed by Jackson's Stonestreet Stable, which already owns 80 percent of top money-earner Curlin.
There will be a second hearing Dec. 1 to allow arguments against the sale. The share in the horse may be sold to help satisfy a $42 million judgment against the minority owners, Shirley Allen Cunningham Jr. and William Gallion. They were recently disbarred over their misconduct in representing more than 400 plaintiffs in a fen-phen diet drug case, the Herald Leader reports.
Crittenden told attorneys for all parties that whether the court approves a sale should not impede Jackson, as majority owner already, from making decisions about the horse.
Jackson's attorney, Richard Getty, argued that a decision on the sale is necessary as soon as possible because the uncertainty is inhibiting a decision on whether to race Curlin next year or stand him at stud, reports the Lexington Herald-Leader.
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