Three entitled to 20% share of £315,000 racehorse, court rules

Three people are entitled to a total 20 per cent share of a racehorse sold for £315,000 (€432,800) more than two years ago, the High Court has ruled.

Builder Joseph Logan and his wife Edel, from Kilmeague in Co Kildare, must pay 20 per cent of the sale price for the horse, Tashzara, to Michael O'Reilly, a part-time horse trainer from Ruanbeg Drive, Kildare town, his jockey brother Martin O'Reilly and Claudia Reiss (partner of Martin), Mr Justice David Keane ordered.

The brothers and Ms Reiss claimed they had reached an agreement with Mr Logan they would train and look after the filly to see if she could be raced and would get 20 per cent of any sale proceeds between them.

The Logans claimed the agreement reached was the industry standard whereby the trainer gets 10 per cent of the sale proceeds.

While he did not doubt the sincerity of witnesses on either side, the judge said he had found, on the balance of probabilities, in favour of a January/February 2009 agreement that the O’Reillys and Ms Reiss would get a 20 per cent share of the horse in return for looking after it.

He found the agreement was also amended whereby the three agreed they would be entitled to the 20 per cent share in the sale price rather than an interest in the horse’s prize money or progeny.

The court heard the horse was bought by Mr Logan in 2008 and, in 2009, Michael O’Reilly had asked Mr Logan if he and his brother could take the horse in and train her. The three said, when they first saw the horse in the Logans’ property, she was in a very poor condition.

It turned out the filly shared a dam with the champion colt Excelebration which was considered one of the best horses in the world in 2011 and 2012.

Mr Logan, who said his plan at the time was to use Tashzara for breeding, agreed to give the animal to Mr O’Reilly for a three-month trial period.

‘Gentlemen’s agreement’

Michael O’Reilly said a “gentlemen’s agreement” was reached in Mr Logan’s yard. Michael would get 10 per cent of any sale while Martin and Ms Reiss would get five per cent each.

Mr Logan, who argued the agreement was for a 10 per cent standard trainer’s fee, paid Michael €700 per month to house, train and feed the animal. The horse first went to race in Beverley, Yorkshire, where she came third and then went to Navan Racecourse in Meath where she came second.

Mr Logan said, when approached by another horse trainer to sell the animal, he sought €150,000 but this was refused.

Under an arrangement with a US trainer, the horse was later sent to the US where she won $40,000 (€35,940) in prize money but ultimately ended up injured.

She was returned to Mr Logan two years later after Mr Logan had paid another $30,000 to the US trainer who, he said, had already got the prize money to pay for all expenses associated with the horse while she was in the US.

Mr Logan said he was in financial difficulties due to the building-industry decline, got family help to bring the horse back and transferred the animal’s ownership to his wife.

The horse was sent to Coolmore Stud to be put in foal and sold in December 2012 at Tattersalls for £315,000.