Shane Edwards Sells Without Consent
The thoroughbred racing industry oozes glamour, glitz and the prospect of fulfilling dreams. However, for the trusting owner, the reality may be far from glamorous. A recent case involving a horse trainer in Australia provides ample evidence of the need for caution when entering into the “Wondrous World” of racing as an owner.
Former West Australian trainer Shane Edwards was hit with a Worldwide disqualification on 21 August 2013 for failing to attend an adjourned inquiry into the unauthorised sale of horses in Asia between 2008 and 2011. Edwards, who trained the 2011 Perth Cup winner Guest Wing was, for all intents and purposes a reputable trainer. In late 2012 Edwards extended his training operation to Malaysia and it was not until this point in time that some of his West Australian owners became aware of irregularities regarding their horses. Several had agreed for their horses to race in Malaysia following the establishment of Edwards’ stable in Kuala Lumpur.
Further enquiries subsequently revealed that horses had been sold without authorisation to Asian interests and the proceeds from those sales were not remitted to the rightful owners. Edwards failed to attend the Inquiry on the above date which prompted the disqualification.
Under the Trainer Connections (TC) model, this series of events could not have occurred. Any horse that is the subject of a TC agreement cannot have its registration papers processed by a Controlling body without the signatures of all registered owners. Furthermore, Owners are protected by TC’s Financial Services Licence and registration with ASIC that requires the company to issue a Product Disclosure Statement prior to the horse being advertised for sale.
For further details, speak to Craig Tognolini by phoning 1300 21 21 11