All the stories I've heard have been appalling and very sad. 'More important than us is all those people who have lost a lot of money. 'Not only did we think we had an owner who was prepared to buy horses and make a big difference, we've then lost a lot of horses along the way. Activities Undertaken: Package insurance solutions for the UK and Irish ports harbours terminals and marine related risks. 'It's been an absolute disaster for us,' said the trainer.

John Best was responsible for nine horses, more than any other trainer, and said the situation has been 'awful' for his stable, but he expressed his sympathy for the members who had lost money. 'It's Been an Absolute Disaster,' Says Trainer Best 'Recommendations from that consultation will then be shared with stakeholders, and the aim is to have proposals to put before the BHA board for approval in the early part of 2021.' 'A consultation into the regulation of shared ownership, to identify the current risks and opportunities and how these can be addressed to promote growth and consumer confidence in syndicates and racing clubs, was launched earlier this month and is currently open for anyone to contribute to until Oct.

'To that end, assessing how syndicates and racing clubs are regulated was highlighted as an important part of retaining investors in the sport, one of the nine key goals recently published in British racing's recovery plan. 24: 'Ensuring the regulation of shared ownership protects the sport's participants and allows investors coming into racing to have confidence is more important than ever in light of the current challenges we face as an industry. Just a few months after Layezy Racing's ban from British racing, the EPDS Racing syndicate collapsed after its managing director encountered financial issues, putting more pressure for stricter regulations of syndicates to be put in place.Ī BHA spokesman said Sept. Project Syndicate: In December, you highlighted the difficult challenges facing the United Kingdom’s new prime minister, Rishi Sunak, but saw reason to hope that he would tackle them effectively. The BHA began a consultation into syndicates and racing clubs last month in response to problems with the ownership model. This week in Say More, PS talks with Chris Patten, Chancellor of the University of Oxford and the last British governor of Hong Kong. 'The court recognized the severity of Michael Stanley's misconduct, and he will now have to comply with 14 more years of bankruptcy restrictions, which will not only severely curtail his activities but also protect members of the public and lenders in the future.' For nearly a decade, he duped his members into thinking they were making profits on their bets but in reality, the money received was secured from new members joining the syndicate and not on the scheme's success. Deputy official receiver Barry Gould said: 'Throughout the syndicate's existence, Michael Stanley acted in a duplicitous manner.

British cyndicate