horses: The five-year-old will be staying at home, however, because he is one of 23 horses owned by the Layezy Racing Owners Club, whose founder, Mike Stanley, filed for bankruptcy earlier this week, according to The Guardian. The Rules of Racing make it clear that insolvent individuals or entities are not permitted to own and run racehorses and all 23 horses have been barred from running until further notice. Nickelsonthedime, from Kayley Woollacott's stable, was declared for the last race at Fakenham and would almost certainly have set off as the favourite. The insolvency firm Duff & Phelps has been appointed to oversee the winding up of Stanley's operations, and is currently starting the process of realising assets and continuing to obtain investor claims according to a statement on Thursday. Betting companies could be forced to fund self-exclusion tools Read more The Layezy Racing Club, however, appears to be quite a small element of a much bigger story, since Stanley's main concern in founding it was to advertise his Layezy Racing betting syndicate, which is also in the process of being wound up. The Club's 23 horses will, presumably, be sold at some stage but its shareholders seem unlikely to get much of a return, if any.
(news.financializer.com). As
reported in the news.
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