10/05/2008 11:00PM

Hearing set for guild


A Kentucky bankruptcy court judge has scheduled a hearing for Nov. 17 to approve the reorganization plan of the Jockeys' Guild, according to court filings.

Judge David T. Stosberg of the U.S. Bankruptcy Court for the Western District of Kentucky scheduled the hearing after the Jockeys' Guild appeared in court Sept. 23 to present its reorganization plan. The Jockeys' Guild filed for bankruptcy in October last year. Its reorganization plan was initially filed with the court in April.

Terry Meyocks, the national manager of the guild, said Monday that he did not anticipate any difficulties in getting approval for the plan at the November hearing. The guild's creditors' committee has already approved the plan, Meyocks said, although the guild's lawyers are working on several "technical" amendments for a final filing on Oct. 17.

The plan estimates that the guild, which provides representation and health insurance for jockeys, will have $2.5 million in annual revenue, with approximately half of that revenue coming from member dues. The other half would come from racetracks and other industry sources for the use of jockeys' media rights in simulcasts.