Racehorse buyers sue after paying big for ‘dud’
A BRISBANE solicitor and a Gold Coast businessman are suing for damages after paying $168,000 for a racehorse they claim is a worthless dud.
Businessman Leslie Cowell and solicitor Gregory Ryan bought Sokudo from an owners’ syndicate through bloodstock agents after a veterinary check.
In their District Court claim, they allege their agent was told by James Harron, director of James Harron Bloodstock, that the horse was “sound as a bell” and had no issues.
They claim Mr Harron told their agent the horse was being sold by the owners’ syndicate because it was not up to breeding standard.
They also claim the sale was subject to a veterinary exam and that the purchase agreement had an implied term that the horse was reasonably fit for racing and was of “merchantable quality”.
According to documents filed in court, a report by NSW vet Dr Angela McLeod did not identify any issue that would prevent Sokudo from racing.
Mr Cowell and Mr Ryan paid $165,000 for the horse on July 18. It was later allegedly found to suffer from a significant lesion of the right front limb and a pathological association with the medial suspensory ligament attachment to the sesamoid bone. The buyers claim this made it unfit as a racehorse.
They say Mr Harron made false representations and his conduct was misleading or deceptive. They also claim to have suffered a loss of $179,814 and will have to pay $1489 a month in agistment and farrier fees.
They say Sokudo has a fair market value of “nil” dollars.
They are suing James Harron Bloodstock, James Harron, members of the syndicate, and Dr McLeod for damages for allegedly negligent misstatement. They are also suing for damages for breach of contract.
The defendants are yet to file their responses.