First Winner for Jason Cannon

Young Clanbrooke stable trainer Jason Cannon (trainer of `Doggerel' and a 2YO Strada filly) who opened stables at Gisborne in 2011 celebrated his first winner yesterday when `Wakayama' saluted at Kyneton, returning punters a healthy $11. Congratulations Jason!


Important Advice re: the Personal Properties Securities Act

The PPSA comes into force on January 30, 2012 and it is extremely important that all racehorse owners immediately become familiar with its impact on the ownership of racehorses and other assets. The Act will be supported by a single national online register of personal property security interests called the `PPS Register’ whereby the ownership of assets - such as racehorses - can be recorded. By making a registration on the Registry, ownership of a horse is protected. If the interest is not registered and the horse is in someone else’s care, a third party could register an interest over the horse and gain possession of it should the carer strike financial trouble. For example, if you own a horse (or a share) and that horse is stabled with a trainer who then gets into financial trouble and is forced into administration or receivership, the Receiver may seize the business assets and sell them as part of the customers’ asset pool. There is a 2 year moratorium for assets already owned as at January 30, 2012, but any purchases after this date must be registered.

The PPSA is based on similar legislation in Canada and New Zealand and the major case study for the Act is indeed based on a racing case. In Waller v NZ Bloodstock Limited, NZ Bloodstock leased the stallion Generous to Glenmorgan Farm for an initial period of three years on terms specifying that title remainsed at all times with NZB. This created a PPS Lease which was never registered on the PPS Register. When Glenmorgan defaulted on the lease payments, NZB terminated their agreement and re-took possession of the stallion. However, prior to the Generous contract, Glenmorgan had granted a debenture over “all its present and future assets” to a third party which was entered onto the PPS Register. When Glenmorgan also defaultd on payments to the Third Party, the unfortunate result was that the Third Party was able to argue that it had a registered interest in the horse that took priority  and its subsequent sale and the $2 million proceeds of the sale. NZB received nothing.

Like many things we can argue whether or not such a law should be applicable to Bloodstock but at the end of the day, it is now LAW and we must comply. The register will not come on-line until January 30 and we would advise all clients to do an engine search on PPSA which will lead to the On-line Register. Of course it also a fact  that we will be paying the Government to run this new bureaucracy and the charges are also shown on the Government website.
For further reading and understanding, we would refer all owners to RISA who are progressively publishing details as they become clearer - or consult your personal Lawyer or Accountant.


Back On Deck

It has been difficult returning from holidays – and a week on the Gold Coast – to a regular working week. However, with so many exciting debuts on the cards for coming weeks, it’s not all doom and gloom.

Our current band of 2YO’s are all coming along very nicely and, in fact, two of them are just about ready to make their racetrack debut. As such, over the break, we have been busily brainstorming and we are now pleased to announce the racing names for all 3 2YO’s:

Firstly, our Dylan Thomas x Away with Fairies Filly will be known as `October Wind.’ Why you ask? `October Wind’ was actually a poem penned by Dylan Thomas – and our filly was an October foal.
Secondly, our Purrealist x Portview Colt is now `Reigning Cat.’ No explanation needed there.
Finally, our Al Samer x Nightly Class Filly is `Sahara Night’ – a nice fusion of the sire and dam from long-time Clanbrooke owner Max Dent. Thanks Max.

We are yet to purchase our first Yearling for 2012, but in the meantime, we have a few shares remaining in our 2YO Oratorio x Academia Colt, our Good Journey x Race The Heart Gelding (pictured), as well as our International venture, the Sinndar x Shamsada Colt. If you ‘re not too keen to wait for a Yearling to mature, have a look at our 2YO’s who have all been broken in and are all just about ready to go.

We have a couple of owners events coming up including a day at the Ballarat races including lunch in the committee room, to be hosted in conjunction with Aquanita. Invitations will go out shortly but tickets are limited so don’t delay. In addition, we are busily planning our first Clanbrooke event for the year. Watch this space.


Summer Racing

Although the office remains closed for a few more days, we have been heartened in recent weeks with the track success of some of our stable horses including Mayneda Strategy’s Boxing Day win at Caulfield (suberbly executed for staff member and part-owner Judy Magee on her birthday), as well as Leg Room’s win the same day at Wodonga. With two runners at tomorrow's Caulfield meet and another runner anticipated for Flemington Saturday week, we certainly have our share of city runners at present, most of whom race as fairly solid chances.

We have also received some very positive reports from track riders in relation to both our Al Samer x Nightly Class filly (now named `Sahara Night’), as well as our Purrealist x Portview Colt. Both are set to hit the track even earlier than anticipated and Russell’s eye is set firmly on some of the Inglis bonus races for which both 2YO’s are nominated.

We still have 2 x 10% shares remaining in our Purrealist Colt. Shares are advertised at $6495 per 10% share. With naming imminent (as he must trial within the fortnight), please contact us asap if you are interested. With 3 city winners under his belt, Purrealist is currently 2nd on the First Season sires. Don't let this one get under your guard.

 
       

See Clanbrooke's Winners for Season 2011/12

See Clanbrooke's Archived Stable - and where they are now






 

Latest News Nov 20, 2011 Purrealist Naming Competition Credible tipping but no cigar from guest tipster Chris Doyle over the weekend. And so we move on...to a competition. Bred to go early, Purrealist progeny have been doing just that with... » Full Story Nov 11, 2011 Sandown Classic Day Perhaps we won't discuss the merits of Judy's (pictured, with Mayneda) tipping last week, suffice to say that she is great at her work and we understand why she's not a punter....on... » Full Story

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