^ One of the articles I saw said the ownership had been transferred (to a relative?) from the owner. So maybe Schroder thought it was settled. Who knows?
[QUOTE=MHM;6496180]
^ One of the articles I saw said the ownership had been transferred (to a relative?) from the owner. So maybe Schroder thought it was settled. Who knows?[/QUOTE]
That transfer may not matter. From personal experience working for a company that filed for bankruptcy, the banks tried to get back funds paid to vendors before the filing because they were not “primary” creditors. They were successful in “screwing” some of our smaller vendors by taking back the money through court order.
The whole situation sucked. I felt so bad for our vendors.
Anyway, the courts may not recognize the transfer.
This would be why Mr Eurocommerce is being investigated for fraud as well.
What would you have wanted Shroder to do if he did know? Scratch his shot at a competitive Games with no communication from his corporate “owners”? That asset (the horse) is worth more with a successful Olympics and that’s probably why they waited to sieze it.
Not like he would have been #1 on the list of people for the lawyers involved to to officially notify anyway and you can understand he was hoping nothing would happen until after the games.
I would have gone like he did and hoped for the best.
But, then again, I have personal experience working for companies in bankruptcy, one that liquidated-you keep going until they tell you to stop or the checks bounce.
New update- the horse is back with Schroder for the time being:
http://www.worldofshowjumping.com/news/25-news/2506-london-confirmed-seized-but-back-in-the-netherlands
Thx for the update MHM.
Makes sense they’d stay in training with Gerco during this all.
