High Court Orders The Release Of Covering Certificates For Sands Of Mali

[Wandering Eyes]

Some clarity was provided to the supporters of Sands Of Mali on Thursday after the High Court ordered Steve Parkin's legal team to release covering certificates to the breeders that have sent mares to a stallion who was reported to have sold to Yeomanstown Stud for €8 million in a silent auction held by Tattersalls Ireland back in November. 

The order was made by Mr Justice David Nolan as the long-running legal battle between owner-breeder Parkin and his former racing manager and Ballyhane Stud owner Joe Foley wrangled on. 

Parkin's legal team agreed to release the covering certificates on the proviso of receiving proof of payment. They had previously alleged that Foley had not granted Parkin access to, and was even holding hundreds of thousands of euros, in an escrow account that was set up to gather monies generated by Sands Of Mali. 

Mr Justice Nolan was heavily critical of Foley for not setting up a standalone bank account for such funds. He went as far as saying that the stallion master was “blatantly in breach of court law” given he ignored directives that were set out at a High Court hearing between the two parties almost exactly a year ago. 

However, the court heard that Foley and his legal team had been keeping Parkin updated on the collection of funds on a monthly basis and that the Ballyhane boss ran into difficulty with Bank Of Ireland when trying to set up a standalone bank account for that exact purpose. Evidence was presented of a written apology from Bank Of Ireland for its failure in the transaction. 

There was also a major discrepancy between the two parties as to the exact amount that should reside in that account once all of the covering fees for 2024 are collected from breeders and costs are deducted. Parkin's legal team once again asserted that the figure was €450,000 while Foley's team stated that the sum should be €117,000. They said that 48 individuals who supported Sands Of Mali in 2024 are fully paid up. The three breeders who have yet to pay for what are now weanlings by the stallion are understood to have voiced concerns over the withholding of covering certs. 

The news that Weatherbys will now be instructed by Parkin's legal team to release passports for breeders who have paid their nominations comes less than a week before the Goffs February Sale, where there are six mares due to be sold in foal to Sands Of Mali. 

It was at that sales house last year, during the breeding stock sales, where this issue first came to light. A person who wishes to remain nameless told TDN Europe that one breeder, who sold a mare in foal to the stallion at that sale for €32,000, has told the owners of Sands Of Mali that they plan on pursuing the matter legally after the mare was returned to him over the covering certificate debacle. 

The legal battle between Foley and Parkin along with the resolution of a dispute over ownership of Sands Of Mali, and therefore how the €8 million sum is divided, is expected to run deep into this year.

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