Stonewall lawyer sees business as usual
An attorney for the financially embattled Stonewall Farm said Wednesday that recent Florida bankruptcy filings by three Stonewall-related entities will not affect business at the farm’s new stallion base in Ocala, Fla.
The attorney, Eric Golden, said that two of the entities that have filed for bankruptcy, StoneWall Farm Stallions XI and StoneWall Farm Stallions IV, own the stallions Da Stoops and Value Plus, respectively, but that they retain possession of those sires and will stand them in Ocala as planned. The third entity, NeverTell, owns the Stonewall Farm property in Midway, Ky.
“The filings of StoneWall Farm Stallions XI LLC and StoneWall Farm Stallions IV LLC will not affect the operations at the Ocala farm,” Golden said. “Those debtors are debtors in possession under Chapter 11 of the U.S. bankruptcy code, and, as such, are permitted to stay in control and possession of their assets and to continue operation of their business.”
In related news, the Breeders’ Cup expects to receive nomination fee payments within the next week for nine Stonewall Farm stallions that breeders had feared could lose eligibility for the program. A Breeders’ Cup spokesman, Jim Gluckson, said overdue nomination payments on 385 covers to the stallions “have not been accounted for” but added, “We’re currently receiving payments on some of the Stonewall stallions, and we’re hopeful we can settle the matter on all the stallions in the next week We’re going to be able to work this out.”
Stonewall has paid overdue 2009 nomination fees for A. P. Warrior and champion Leroidesanimaux, according to the farm’s Kentucky attorney, John Hamilton.
Gluckson did not name other stallions involved. Stonewall’s current stallion roster also includes British Blue, Da Stoops, Doneraile Court, Frisco Star, It’s No Joke, Spellbinder, Strong Contender, Unforgettable Max, and Value Plus. The farm effectively has ended its Midway, Ky., operation and will stand all of its stallions at Stonewall Stallions Ocala in 2011.