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 Shelter Dog Lover
Posts: 10277
  
| I heard that they are being sued for all their winnings on him. Some type of breach of contract and they have to sell him. Going up at auction at Waxahachie court house. Any truth to this??
Edited by rodeomom3 2014-03-16 8:02 PM
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Hungarian Midget Woman
Location: Midwest | I recently saw another thread on this... it didn't last long LOL |
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Shelter Dog Lover
Posts: 10277
| Oops, sorry mods |
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Blessed 
Location: Here | yes. Order of partition sale
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 IMA No Hair Style Gal
Posts: 2594
| Can I just say that this breaks my heart?!?
How sad for Mary Walker.
Now...I need to go buy me a lottery ticket?! Although if I ended up doing that (and winning)-I almost would have to give him back to her. |
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Shelter Dog Lover
Posts: 10277
| Sad |
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 There Could Be Aliens Out There
Posts: 1393
Location: North Central Kansas | I thought they owned him? |
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Location: Texas | There is a breach of contract with latte and the walkers. :( I do not wish to say exactly what..... But so Heart breaking :( |
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 Veteran
Posts: 193
Location: USA | I thought they owned them too, but if he really is going up for sale I wish I had the money to buy him and give him back to her. She and that horse are made for each other. |
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Expert
Posts: 1226
| Is this true? Seems really weird to me. Auction like to biggest bidder? |
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10D Crack Champion
| On the other thread about this it was posted there are two different names on his papers as owners....a partnership it appears.
Edited by sodapop 2014-03-16 8:19 PM
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 Chasin my Dream
Posts: 13651
Location: Alberta | SG. - 2014-03-16 7:03 PM
yes. Order of partition sale
and all court documentation is available for public view (if you pay) ....don't know the website....just adding to SG's comment  |
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Regular
Posts: 90
Location: North Ga. Mountains | What does Order of partition sale mean? |
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Expert
Posts: 1314
Location: North Central Iowa Land of white frozen grass | No matter what happens. Mary Walker is the one that made Latte what he is today and worth what he is worth. Who ever ends up with him they need to tip their hat to the Walkers. I hope that someone will be able to purchase him and let Mary keep running him. |
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 Not Afraid to Work
Posts: 4717
| wow so sad...
my heart breaks for her. |
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 A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | BS Hauler - 2014-03-16 8:25 PM No matter what happens. Mary Walker is the one that made Latte what he is today and worth what he is worth. Who ever ends up with him they need to tip their hat to the Walkers. I hope that someone will be able to purchase him and let Mary keep running him.
Ditto  |
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Elite Veteran
Posts: 1131
| That is so sad! Order of Partition by sale means that because he cannot be physically split between two parties, he will be sold and the money will be split. I'm surprised she didn't just buy the other half of him, but I don't know all the details. |
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10D Crack Champion
| I'm sad for whomever was truly wronged in the whole situation. |
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  More bootie than waist!
Posts: 18425
Location: Riding Crackhead. | I sure hope she's able to buy him back. This is truly heartbreaking. |
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 The Original Cyber Bartender
Location: Washington | It would be educational to talk about this if it's going to be allowed and not deleted again. |
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 No Tune in a Bucket
Posts: 2935
Location: Texas | March 27 @ 10:00 waxahachie rodeo arena |
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Not Afraid to Work
Posts: 4717
| fatchance - 2014-03-16 8:40 PM
It would be educational to talk about this if it's going to be allowed and not deleted again.
I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too  |
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Shelter Dog Lover
Posts: 10277
| sodapop - 2014-03-16 8:32 PM I'm sad for whomever was truly wronged in the whole situation.
Ditto. I would think a lawsuit would be a last resort between partners. It is a shame. |
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 Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | stayceem - 2014-03-16 8:45 PM
fatchance - 2014-03-16 8:40 PM
It would be educational to talk about this if it's going to be allowed and not deleted again.
I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too
Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner claimed she was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones.
Edited by Three 4 Luck 2014-03-16 8:52 PM
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The Original Cyber Bartender
Location: Washington | Three 4 Luck - 2014-03-16 6:49 PM
stayceem - 2014-03-16 8:45 PM
fatchance - 2014-03-16 8:40 PM
It would be educational to talk about this if it's going to be allowed and not deleted again.
I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too
Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones.
It sucks that you(most) mentioned Byron. I do not think of Byron when I hear the name Latte, I think of Mary. Praying for Mary that this get's resolved. |
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 Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | I would think she could get a loan to buy him considering she has already proven she can make good money running him. I sure hope some jackwagon doesn't go running the bid up with no intentions to actually buy Latte. |
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | fatchance - 2014-03-16 8:53 PM
Three 4 Luck - 2014-03-16 6:49 PM
stayceem - 2014-03-16 8:45 PM
fatchance - 2014-03-16 8:40 PM
It would be educational to talk about this if it's going to be allowed and not deleted again.
I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too
Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones.
It sucks that you (most ) mentioned Byron. I do not think of Byron when I hear the name Latte, I think of Mary. Praying for Mary that this get's resolved.
Oh yeah, Mary and Latte are like peanutbutter and jelly. It does suck. It makes me especially sad for the horse who had absolutely no say in the mess. |
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Not Afraid to Work
Posts: 4717
| fatchance - 2014-03-16 8:53 PM
Three 4 Luck - 2014-03-16 6:49 PM
stayceem - 2014-03-16 8:45 PM
fatchance - 2014-03-16 8:40 PM
It would be educational to talk about this if it's going to be allowed and not deleted again.
I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too
Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones.
It sucks that you (most ) mentioned Byron. I do not think of Byron when I hear the name Latte, I think of Mary. Praying for Mary that this get's resolved.
Yeah if I remember right, Byron bought him for Mary so he would likely be the person involved with this. Must have been a substantial enough money. You would think if the Judge ruled against him, if it were me... I would be paying whatever amount in question (if I could obviously).
As bad as I feel for Mary... I feel even worse for Latte. He is the innocent party in this. |
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 You get what you give
Posts: 13030
Location: Texas | That's my question too.. why not try and buy him out?? I'm sure that's been an option?? |
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More bootie than waist!
Posts: 18425
Location: Riding Crackhead. | So am I to assume that Mary's husband didn't actually "buy" Latte for Mary but bought a share in the horse? |
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10D Crack Champion
| casualdust07 - 2014-03-16 9:01 PM
That's my question too.. why not try and buy him out?? I'm sure that's been an option??
Maybe it isn't an option or maybe all that is owed is too substantial to repay & pay the price of the horse.....or maybe nothing I said at all. |
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The Original Cyber Bartender
Location: Washington | They couldn't settle on who did what and actually what the contract read. SO now it's going down to the line. Remember folks this horse was bought by Walkers but with a % held back back by the seller with conditions.
The lesson in this is do not do the latter two of what I typed.
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 Total Germophobe
Posts: 6443
Location: Montana | Whatever the case, I too wish I had the money and could buy Latte and give him back to Mary. They seem to be made for each other. |
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | Horse deals like this usually bring out the very worst in people. |
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Expert
Posts: 1414
| stayceem - 2014-03-16 10:01 PM fatchance - 2014-03-16 8:53 PM Three 4 Luck - 2014-03-16 6:49 PM stayceem - 2014-03-16 8:45 PM fatchance - 2014-03-16 8:40 PM It would be educational to talk about this if it's going to be allowed and not deleted again. I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones. It sucks that you (most ) mentioned Byron. I do not think of Byron when I hear the name Latte, I think of Mary. Praying for Mary that this get's resolved. Yeah if I remember right, Byron bought him for Mary so he would likely be the person involved with this. Must have been a substantial enough money. You would think if the Judge ruled against him, if it were me... I would be paying whatever amount in question (if I could obviously ). As bad as I feel for Mary... I feel even worse for Latte. He is the innocent party in this.
EXACTLY!! I just said to my husband it feels like such a cold, impersonable way to sell a horse, especially of this caliber. I hope and pray everything turns out with Latte's best interest in mind. |
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No Tune in a Bucket
Posts: 2935
Location: Texas | fatchance - 2014-03-16 9:06 PM They couldn't settle on who did what and actually what the contract read. SO now it's going down to the line. Remember folks this horse was bought by Walkers but with a % held back back by the seller with conditions. The lesson in this is do not do the latter two of what I typed.
It is my understanding that there was a purchase price plus a % of winnings, neither of which were completely paid resulting in the lawsuit. Yes it is a sad situation which should have never happened. |
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Not Afraid to Work
Posts: 4717
| rodeomom3 - 2014-03-16 9:21 PM
Three 4 Luck - 2014-03-16 8:49 PM stayceem - 2014-03-16 8:45 PM fatchance - 2014-03-16 8:40 PM It would be educational to talk about this if it's going to be allowed and not deleted again. I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner claimed she was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones.
I'm gonna buy him. 
Oh wait... im broke and would probably fall off. |
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Shelter Dog Lover
Posts: 10277
| stayceem - 2014-03-16 9:23 PM rodeomom3 - 2014-03-16 9:21 PM Three 4 Luck - 2014-03-16 8:49 PM stayceem - 2014-03-16 8:45 PM fatchance - 2014-03-16 8:40 PM It would be educational to talk about this if it's going to be allowed and not deleted again. I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner claimed she was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones. I'm gonna buy him. Oh wait... im broke and would probably fall off.
Edited by rodeomom3 2014-03-16 9:26 PM
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Elite Veteran
Posts: 1131
| I bet we are gonna see a lot of big names there.... No one is gonna pass up this chance, because he will be back in the big rodeos, under who is another question entirely. |
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Not Afraid to Work
Posts: 4717
| rodeomom3 - 2014-03-16 9:25 PM
stayceem - 2014-03-16 9:23 PM rodeomom3 - 2014-03-16 9:21 PM Three 4 Luck - 2014-03-16 8:49 PM stayceem - 2014-03-16 8:45 PM fatchance - 2014-03-16 8:40 PM It would be educational to talk about this if it's going to be allowed and not deleted again. I agree. Maybe if there are enough hurt feeling, they refuse to sell their half to her? Sometimes that happens. I've never heard of this before. I thought they owned him too Breach of contract is a big deal. If the money owed had been paid, it would never have come to this. The "other" partner claimed she was owed money by the Walkers. Byron disagreed, judge ruled against him. That's the bare bones. I'm gonna buy him. Oh wait... im broke and would probably fall off.
VELCRO SEAT! |
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Shelter Dog Lover
Posts: 10277
| RocketPilot - 2014-03-16 9:17 PM fatchance - 2014-03-16 9:06 PM They couldn't settle on who did what and actually what the contract read. SO now it's going down to the line. Remember folks this horse was bought by Walkers but with a % held back back by the seller with conditions. The lesson in this is do not do the latter two of what I typed. It is my understanding that there was a purchase price plus a % of winnings, neither of which were completely paid resulting in the lawsuit. Yes it is a sad situation which should have never happened.
Edited by rodeomom3 2014-03-16 9:29 PM
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 Expert
Posts: 1440
Location: Texas | This is a sad situation, but unfortunately it was a business agreement where the terms were not held to according the the judges ruling. It is heart breaking for all parties involved that what was probably a once friendship is ruined and a great rider/horse team will be broken up. Maybe all will end well. |
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 Warmblood with Wings
Posts: 27846
Location: Florida.. | My guess is there is a lot more going on behind the scenes.. you dont know she wont end up with horse in the long run yet..
with that said.. it happens when you partner with or have more then one party invested in a high dollar horse.. like shares in the horse..in the end... there is legal issues.60% of the time imho.. it can be a real nightmare unless you have a complete silent partner.if Legally the stipulations werent met then I dont think any of us has been in either partners shoes.. so Id not judge anyone.sad deal .. no matter... |
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The Original Cyber Bartender
Location: Washington | Truly hope this ends well. Mary and Latte are a team legend. |
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You get what you give
Posts: 13030
Location: Texas | Yes I don't want to judge either side. If money is owed to someone, they deserve it. As touching as the story is, if there's someone on the other end who's potentially been shorted of money they were agreed to… then its not fair.
However I don't know anything about this whole thing and what the contract says and what did or didn't happen.. just stinks all the way around. |
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Not Afraid to Work
Posts: 4717
| BARREL RACING HORSE OF THE YEAR
3rd PERCULATIN, aka "Latte"
Rider: Mary Walker
Owner: Walker & Cogburn LLC
Not to burn whoever Cogburn LLC is, just thought it interesting. Found this on the website for horse of the year placings. |
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Shelter Dog Lover
Posts: 10277
| casualdust07 - 2014-03-16 9:43 PM Yes I don't want to judge either side. If money is owed to someone, they deserve it. As touching as the story is, if there's someone on the other end who's potentially been shorted of money they were agreed to… then its not fair. However I don't know anything about this whole thing and what the contract says and what did or didn't happen.. just stinks all the way around.
This^. If Latte doesn't end up back with the Walkers there are a lot of great NFR gals who I bet can do great on him too. |
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Shelter Dog Lover
Posts: 10277
| stayceem - 2014-03-16 9:46 PM BARREL RACING HORSE OF THE YEAR 3rd PERCULATIN, aka "Latte" Rider: Mary Walker Owner: Walker & Cogburn LLC Not to burn whoever Cogburn LLC is, just thought it interesting. Found this on the website for horse of the year placings.
Cheri Cogburn is who sold Latte to the Walkers. They created a partnership till horse was paid in full, why her name is still on his papers.
Edited by rodeomom3 2014-03-16 9:50 PM
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Regular
Posts: 61
| fatchance - 2014-03-16 8:40 PM
It would be educational to talk about this if it's going to be allowed and not deleted again.
Especially since this is BARREL HORSE WORLD..... |
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Not Afraid to Work
Posts: 4717
| rodeomom3 - 2014-03-16 9:49 PM
stayceem - 2014-03-16 9:46 PM BARREL RACING HORSE OF THE YEAR 3rd PERCULATIN, aka "Latte" Rider: Mary Walker Owner: Walker & Cogburn LLC Not to burn whoever Cogburn LLC is, just thought it interesting. Found this on the website for horse of the year placings.
Cheri Cogburn is who sold Latte to the Walkers. They created a partnership till horse was paid in full, why her name is still on his papers.
ohhhhhhhhhhhhhhhhhhhhhhhhh I dont know all the details. Just whenever I heard/saw ownership it was only walkers that were mentioned. |
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The Original Cyber Bartender
Location: Washington | Not sure I want to debate what I have been told. Just don't forget that the horse was paid for with conditions. The horses papers are in the Walkers name.(so I was told) It's the rest of the story we here will never truly know, because it's not involving us. I simply think there is a learning curve in all of this.
IF I pay for a horse, I am the new owner with papers. I do not sign into what if's into a side contract.
That is the learning curve here for the average joe. IMHO
AND never go into a LLC license with a partner...Ever. |
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Not Afraid to Work
Posts: 4717
| fatchance - 2014-03-16 9:59 PM
Not sure I want to debate what I have been told. Just don't forget that the horse was paid for with conditions. The horses papers are in the Walkers name.(so I was told) It's the rest of the story we here will never truly know, because it's not involving us. I simply think there is a learning curve in all of this.
IF I pay for a horse, I am the new owner with papers. I do not sign into what if's into a side contract.
That is the learning curve here for the average joe. IMHO
AND never go into a LLC license with a partner...Ever.
Anyone I know who have sold with conditions, rarely get them fulfilled. Obviously its minimal compared to this as far as cost but I know people who have sold with rights to babies or winings and theres almost always problems. |
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10D Crack Champion
| fatchance - 2014-03-16 9:59 PM Not sure I want to debate what I have been told. Just don't forget that the horse was paid for with conditions. The horses papers are in the Walkers name.(so I was told) It's the rest of the story we here will never truly know, because it's not involving us. I simply think there is a learning curve in all of this.
IF I pay for a horse, I am the new owner with papers. I do not sign into what if's into a side contract.
That is the learning curve here for the average joe. IMHO
AND never go into a LLC license with a partner...Ever. Ownership shows Walker & Cogburn LLC. So I assume the horse is in both parties name or at least the LLC they created together.
Edited by sodapop 2014-03-16 10:07 PM
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 Angel in a Sorrel Coat
Posts: 16030
Location: In a happy place | Obviously I don't know details and I am not making judgement. I just wish I had the money to buy him and give him to Mary. |
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 Expert
Posts: 2236
Location: Sherman, TX | sorrel horse ranch - 2014-03-16 10:00 PM
Obviously I don't know details and I am not making judgement. I just wish I had the money to buy him and give him to Mary.
Me too! Let's all buy lotto tickets in the morning! My thinking is the Brazilians are going to swoop in and buy him, haven't they made offers on him before? |
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You get what you give
Posts: 13030
Location: Texas | stayceem - 2014-03-16 10:04 PM
fatchance - 2014-03-16 9:59 PM
Not sure I want to debate what I have been told. Just don't forget that the horse was paid for with conditions. The horses papers are in the Walkers name.(so I was told) It's the rest of the story we here will never truly know, because it's not involving us. I simply think there is a learning curve in all of this.
IF I pay for a horse, I am the new owner with papers. I do not sign into what if's into a side contract.
That is the learning curve here for the average joe. IMHO
AND never go into a LLC license with a partner...Ever.
Anyone I know who have sold with conditions, rarely get them fulfilled. Obviously its minimal compared to this as far as cost but I know people who have sold with rights to babies or winings and theres almost always problems.
Yep, I had someone offer to pay for part of my yearling colt and "if he made something" she'd pay for the rest of him with his earnings. this was shortly before she then offered me 4500 sock monkeys for him.
did not do that sale. wonder why…
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 BHW Resident Surgeon
Posts: 25352
Location: Bastrop, Texas | The memories can't be taken away. No matter what, Mary will have fulfilled a dream few can even imagine. The title is hers. No amount of money can change that. I hope that is a source of consolation for her. This is just a very sad turn of events. I wonder how long this litigation has been going on, and the effect it had on her this past year. |
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 Elite Veteran
Posts: 902
Location: Qld Australia | I am not trying to take anything away from Mary and her dream run but to be honest, I really feel sorry for the original owner. She sold this horse with conditions that were agreed to but have now obviously not been met.
I would like to think that this situation could have been avoided if those term were met. The judge must agree if they have stipulated such a drastic action as selling Latte.
Hugs to all involved and especially Latte. |
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 Expert
Posts: 1409
| As much as I love watching Marry and Latte, IF the Walkers did not fulfill the contract obligations of the purchase and did not hold true to their word then they should not have the right to keep the horse and no one should give him back to them with no strings attached. What about the other party?? Why no sympathy for the other partner that was apparantly wronged if the judge ruled against the Walkers.
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 Movin's Momma
Posts: 1426
| For the record here let's get a few facts straight:
Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire.
When Latte was purchased for Mary to help ease the pain of the unimaginable loss of her son he simply had less the $1,500 in equistat earnings to he resume. Mary and Latte have a bond and an amazing partnership! As anyone on here knows, the bond between a horse and rider runs deep. Loosing Latte would be devastating to say the least. Let's all be respectful of her situation and stick to the facts. |
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The Original Cyber Bartender
Location: Washington | Pretty sure I stuck to avoiding the facts as some sides see them. I am on the side of Mary and Latte. Please don't think I have posted anything else.
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You get what you give
Posts: 13030
Location: Texas | that sounds like a whole bunch of mess to work out. My sympathies to everyone involved, doesn't sound like any fun at all... |
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Shelter Dog Lover
Posts: 10277
| It is a mess and a sad situation. I am on the side of all involved parties doing what they initially agreed to do whatever that may be. |
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Expert
Posts: 1409
| An auction just to determine value? Why would anyone bid on him if they are not able to actually buy him and take him home? Sounds like determining value could be /should be accomplished some other way? |
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 Expert
Posts: 1482
Location: on my horse | loflin06 - 2014-03-16 9:25 PM
For the record here let's get a few facts straight:
Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire.
When Latte was purchased for Mary to help ease the pain of the unimaginable loss of her son he simply had less the $1,500 in equistat earnings to he resume. Mary and Latte have a bond and an amazing partnership! As anyone on here knows, the bond between a horse and rider runs deep. Loosing Latte would be devastating to say the least. Let's all be respectful of her situation and stick to the facts.
Thank you |
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Extreme Veteran
Posts: 429
Location: Texas | Ms Loflin does not have her facts correct. The auction is not simply to determine value. The auction is to sell the horse. The winning bidder - whoever that may be - must deposit the FULL amount of the bid price with the registry of the court. The horse will be sold once funds are deposited. |
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Movin's Momma
Posts: 1426
| Good question, he is the only asset in the Walker/Cogburn llc corporation. Therefore when you are ordered to dissolve a corporation and determine the value of the shares the assets are sold. |
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Blessed
Location: Here | TyE - 2014-03-16 10:37 PM
An auction just to determine value? Why would anyone bid on him if they are not able to actually buy him and take him home? Sounds like determining value could be /should be accomplished some other way?
In court ordered partition sales high bidder owns what is being auctioned Then the value that was established at said sale is distributed to the parties according to %. Like FC I hate this for this team and sure hope it gets resolved before the day of the sale Google court ordered partition sale if you want to learn more how this process works |
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Elite Veteran
Posts: 733
| Not trying to nit picky but is there such a thing as a llc corporation? LLC stands for limitied liability company right? Aren't they both "types" of businesses? I am pretty sure LLC's don't have shares nor share holders only corporations have that, I know our business is set up as a LLC both my mother and I are co-owners not share holders. Like I said not trying to be nit picky just curious.
ETA: Are Walkers and Cogburns in a LLC together or are Cogburn LLC and Walkers partners on the horse?
Edited by Rope-N-Run 2014-03-16 10:54 PM
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Shelter Dog Lover
Posts: 10277
| Rope-N-Run - 2014-03-16 10:51 PM Not trying to nit picky but is there such a thing as a llc corporation? LLC stands for limitied liability company right? Aren't they both "types" of businesses? I am pretty sure LLC's don't have shares nor share holders only corporations have that, I know our business is set up as a LLC both my mother and I are co-owners not share holders. Like I said not trying to be nit picky just curious. ETA: Are Walkers and Cogburns in a LLC together or are Cogburn LLC and Walkers partners on the horse? This is correct. My husband and I had to create one to get a permit to build our house.
Edited by rodeomom3 2014-03-16 10:55 PM
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Not Afraid to Work
Posts: 4717
| loflin06 - 2014-03-16 10:45 PM
Good question, he is the only asset in the Walker/Cogburn llc corporation. Therefore when you are ordered to dissolve a corporation and determine the value of the shares the assets are sold.
This makes my headspin... I just hope Latte gets whats best and I think Mary is that. They have made eachother what they are.
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Movin's Momma
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| That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
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Elite Veteran
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| rodeomom3 - 2014-03-17 8:54 PM
Rope-N-Run - 2014-03-16 10:51 PM Not trying to nit picky but is there such a thing as a llc corporation? LLC stands for limitied liability company right? Aren't they both "types" of businesses? I am pretty sure LLC's don't have shares nor share holders only corporations have that, I know our business is set up as a LLC both my mother and I are co-owners not share holders. Like I said not trying to be nit picky just curious. ETA: Are Walkers and Cogburns in a LLC together or are Cogburn LLC and Walkers partners on the horse? This is correct. My husband and I had to create one to get a permit to build our house.
Ok I just re-read the post and I know see that Cogburn LLC and Walkers could be in a corporation together, I am 99% sure that LLC's can be owned by corporations. Man I feel like I need to go back to business law. |
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Extreme Veteran
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| loflin06 - 2014-03-16 8:25 PM For the record here let's get a few facts straight: Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire. When Latte was purchased for Mary to help ease the pain of the unimaginable loss of her son he simply had less the $1,500 in equistat earnings to he resume. Mary and Latte have a bond and an amazing partnership! As anyone on here knows, the bond between a horse and rider runs deep. Loosing Latte would be devastating to say the least. Let's all be respectful of her situation and stick to the facts.
That was an aweful lot of money to pay for a horse that only had $1500 in Equistat earning at the time. Moral of the story seems to be just buy your horse outright and avoid partnerships unless you know for sure you are on the same page. |
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The Original Cyber Bartender
Location: Washington | Rope-N-Run - 2014-03-16 8:51 PM Not trying to nit picky but is there such a thing as a llc corporation? LLC stands for limitied liability company right? Aren't they both "types" of businesses? I am pretty sure LLC's don't have shares nor share holders only corporations have that, I know our business is set up as a LLC both my mother and I are co-owners not share holders. Like I said not trying to be nit picky just curious.
LLC is a loop hole like all things in this world. It's about taxes and how to set up to file with taxes. Pretty sure the word Corporation was not used...until now.
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Not Afraid to Work
Posts: 4717
| loflin06 - 2014-03-16 10:56 PM
That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
Thats what i was trying to wrap my head around so I just deleted it. So they can and hoep to buy him but you mean they will have paid $120,000 PLUS whatever crazy amount he sells for on the 27th? I would imagine a horse like that would go for $500,000+? |
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 Winner winner chicken dinner
Posts: 2047
Location: California | loflin06 - 2014-03-17 8:56 PM
That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
This is what I was going to ask...what would stop the Walkers from bidding on him and buying him back? Sounds like that is the plan. I sure hope it all works out, they are such an amazing team! |
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Movin's Momma
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| It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved. |
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Not Afraid to Work
Posts: 4717
| loflin06 - 2014-03-16 10:59 PM
It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved.
Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000??? |
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Blessed
Location: Here | loflin06 - 2014-03-16 10:56 PM
That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
But they will get their 9o% of the sales proceeds back to counter balance the purchase to really purchasing him twice |
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Elite Veteran
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| stayceem - 2014-03-17 8:57 PM
loflin06 - 2014-03-16 10:56 PM
That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
Thats what i was trying to wrap my head around so I just deleted it. So they can and hoep to buy him but you mean they will have paid $120,000 PLUS whatever crazy amount he sells for on the 27th? I would imagine a horse like that would go for $500,000+?
Such a sad deal all the way around. If they buy him won't 90% of what they pay go back to them? It seems these "partnerships" on high dollar horses are becoming more common, I hope we don't see to many more of these situations. |
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Shelter Dog Lover
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| SG. - 2014-03-16 11:01 PM loflin06 - 2014-03-16 10:56 PM That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice. But they will get their 9o% of the sales proceeds back to counter balance the purchase to really purchasing him twice
Edited by rodeomom3 2014-03-16 11:05 PM
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Movin's Momma
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| Correct. |
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 Elite Veteran
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Location: Probably On the Road to the Next Barrel Race! | loflin06 - 2014-03-16 10:25 PM For the record here let's get a few facts straight: Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire. When Latte was purchased for Mary to help ease the pain of the unimaginable loss of her son he simply had less the $1,500 in equistat earnings to he resume. Mary and Latte have a bond and an amazing partnership! As anyone on here knows, the bond between a horse and rider runs deep. Loosing Latte would be devastating to say the least. Let's all be respectful of her situation and stick to the facts.
I don't know what Latte had done or not done before he was purchased, but must have been SOmEthing to have been bought for $120,000!!!! (WITH a retention of 10%)...yet you say he had less than $1500 in Equistat earnings...that doesn't even make sense...was he blowing everybody away at events that were non-equistat? I'm just curious. |
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 Proud to be Deplorable
Posts: 1929
| TyE - 2014-03-16 10:24 PM
As much as I love watching Marry and Latte, IF the Walkers did not fulfill the contract obligations of the purchase and did not hold true to their word then they should not have the right to keep the horse and no one should give him back to them with no strings attached. What about the other party?? Why no sympathy for the other partner that was apparantly wronged if the judge ruled against the Walkers.
With out knowing what was said in court none of us know the truth. To me it sounds like the Judge couldn't figure it out completely ether. His ruling is more of lets split the baby kind of thing. Normally in a case for money the one that looses gets a judgement placed on them and it is up to the other party to collect. In this case the judge ordered the partnership to sell it's only asset (Latte) strange to say the least. |
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Blessed
Location: Here | stayceem - 2014-03-16 11:00 PM
loflin06 - 2014-03-16 10:59 PM
It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved.
Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000???
Correct |
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Not Afraid to Work
Posts: 4717
| CrossCreek - 2014-03-16 11:03 PM
loflin06 - 2014-03-16 10:25 PM For the record here let's get a few facts straight: Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire. When Latte was purchased for Mary to help ease the pain of the unimaginable loss of her son he simply had less the $1,500 in equistat earnings to he resume. Mary and Latte have a bond and an amazing partnership! As anyone on here knows, the bond between a horse and rider runs deep. Loosing Latte would be devastating to say the least. Let's all be respectful of her situation and stick to the facts.
I don't know what Latte had done or not done before he was purchased, but must have been SOmEthing to have been bought for $120,000!!!! (WITH a retention of 10%)...yet you say he had less than $1500 in Equistat earnings...that doesn't even make sense...was he blowing everybody away at events that were non-equistat? I'm just curious.
Good question? Was he gelded? Was DFP alive still? Could be a number of things? |
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The Original Cyber Bartender
Location: Washington | loflin06 - 2014-03-16 8:59 PM It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved.
Not feeling protected now are they.
As a fan I am seriously ****ed off.
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Not Afraid to Work
Posts: 4717
| SG. - 2014-03-16 11:04 PM
stayceem - 2014-03-16 11:00 PM
loflin06 - 2014-03-16 10:59 PM
It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved.
Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000???
Correct
Thank you. I wonder if there will be a big turnout at the sale. |
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Total Germophobe
Posts: 6443
Location: Montana | stayceem - 2014-03-16 10:00 PM loflin06 - 2014-03-16 10:59 PM It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved. Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000???  Oops, see someone already answered!
Edited by mtcanchazer 2014-03-16 11:12 PM
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Not Afraid to Work
Posts: 4717
| Sorry I am intrigued by this so... basically they technically (they as in Mary and Byron) are determining what the 10% value is since he is worth more now than when she bought him. So if he brings 500,000... Mary gets 450,000 and the other 10% is $50,000. Am I getting this right? So if mary makes the purchase, she will owe $50,000? |
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Elite Veteran
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Location: Probably On the Road to the Next Barrel Race! | If I was at that auction, I would not bid higher than whatever Mary bid...I would think it a shame to attempt to take advantage of this situation and outbid just so you can get a great horse...there are plenty nice ones out there, go build your OWN champioship team, without having to break Mary's heart and use her back to step up on. |
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Not Afraid to Work
Posts: 4717
| mtcanchazer - 2014-03-16 11:09 PM
stayceem - 2014-03-16 10:00 PM loflin06 - 2014-03-16 10:59 PM It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved. Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000???
Yes this is the case... it was answered up a little bit in the thread |
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Blessed
Location: Here | mtcanchazer - 2014-03-16 11:09 PM
stayceem - 2014-03-16 10:00 PM loflin06 - 2014-03-16 10:59 PM It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved. Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000???
Yes that is correct |
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Shelter Dog Lover
Posts: 10277
| stayceem - 2014-03-16 11:10 PM mtcanchazer - 2014-03-16 11:09 PM stayceem - 2014-03-16 10:00 PM loflin06 - 2014-03-16 10:59 PM It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved. Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000??? Yes this is the case... it was answered up a little bit in the thread
Cheaper than sharing future winnings on him plus the Walkers would have sole ownership. |
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Movin's Momma
Posts: 1426
| Mary had Latte 6 months prior to the purchase and the owner kept increasing the price as Mary and Latte began winning at WPRA and other events. Anything above $1,500 in equistat earrings prior to Mary getting on him was all won with Mary as the rider. This made purchasing him difficult therefore the retainer of the 10% by Cogburns. |
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Not Afraid to Work
Posts: 4717
| rodeomom3 - 2014-03-16 11:13 PM
stayceem - 2014-03-16 11:10 PM mtcanchazer - 2014-03-16 11:09 PM stayceem - 2014-03-16 10:00 PM loflin06 - 2014-03-16 10:59 PM It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved. Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000??? Yes this is the case... it was answered up a little bit in the thread
I just wonder why the owner got to keep 10%?? or why?? If he was paid in full? Maybe they just thought he would be something and wanted to be attached to him as an investment?
Sorry I have so many questions   |
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Blessed
Location: Here | It truly is a huge gamble for a
Dream to be taken away So sad On all levels |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | SG. - 2014-03-16 11:12 PM mtcanchazer - 2014-03-16 11:09 PM stayceem - 2014-03-16 10:00 PM loflin06 - 2014-03-16 10:59 PM It is Walker / Cogburn LLC 90% Walker 10% Cogburn. This was set up this way to protect both parties involved. Question... so say Mary buys him for 100,000 ... does she gets the 90,000 and then pays 10,000 to Cogburn? So really she only paid 10,000??? Yes that is correct
Wow all this really has my head a spining, not easy for me to follow all that is being said  |
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The Original Cyber Bartender
Location: Washington | loflin06 - 2014-03-16 9:14 PM Mary had Latte 6 months prior to the purchase and the owner kept increasing the price as Mary and Latte began winning at WPRA and other events. Anything above $1,500 in equistat earrings prior to Mary getting on him was all won with Mary as the rider. This made purchasing him difficult therefore the retainer of the 10% by Cogburns.
Mary was also hurt by Latte, Mary should sue Cogburns.
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Not Afraid to Work
Posts: 4717
| loflin06 - 2014-03-16 11:14 PM
Mary had Latte 6 months prior to the purchase and the owner kept increasing the price as Mary and Latte began winning at WPRA and other events. Anything above $1,500 in equistat earrings prior to Mary getting on him was all won with Mary as the rider. This made purchasing him difficult therefore the retainer of the 10% by Cogburns.
Sad deal to me. Mary made that horse worth what he is but I suppose unless you negotiate before getting on him ... you are kinda up a creek without a paddle.
I know it happens, just not right in my eyes. Then again, probably why i wouldnt make a good business woman. |
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Expert
Posts: 1409
| It is hard to believe that negotiating a purchase of that amount there would be nothing in writing and the seller would be able to change the price? Why would one go to the trouble to form an LLC with all that paperwork, but fail to have the purchase price in a contract , so that the price could not change if the horse was not paid in full at time of first competition?
This is all really strange to me and I have no dog in the fight I guess my organizational tendencies like everything to add up! |
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Not Afraid to Work
Posts: 4717
| TyE - 2014-03-16 11:26 PM
It is hard to believe that negotiating a purchase of that amount there would be nothing in writing and the seller would be able to change the price? Why would one go to the trouble to form an LLC with all that paperwork, but fail to have the purchase price in a contract , so that the price could not change if the horse was not paid in full at time of first competition?
This is all really strange to me and I have no dog in the fight I guess my organizational tendencies like everything to add up!
From what I gather.....
1.) Mary rode Latte before anything was formed or in writing which is why is purchase price could increase. From past articles, Mary was riding Latte to season him for Cheri.
2.) Christy states he was paid in full but Cheri retainined 10% of ownership (this part I dont understand).
3.) They formed an LLC at that point in the sale. But the value of his was maybe never set in stone. Could be why the judge couldnt make an easier ruling.
Contracts are really really tricky. I took business law and litigation and there are Sooo many loopholes and pieces to the puzzle. If you miss one by accident, it can throw a whole wrench into everything.
ETA - no dog in this fight. Just learning a lot from a unfortuante situation.
Edited by stayceem 2014-03-16 11:31 PM
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Proud to be Deplorable
Posts: 1929
| TyE - 2014-03-16 11:26 PM
It is hard to believe that negotiating a purchase of that amount there would be nothing in writing and the seller would be able to change the price? Why would one go to the trouble to form an LLC with all that paperwork, but fail to have the purchase price in a contract , so that the price could not change if the horse was not paid in full at time of first competition?
This is all really strange to me and I have no dog in the fight I guess my organizational tendencies like everything to add up!
It sounds like they did a value on him when they bought him the question is how much is he worth know. |
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Blessed
Location: Here | TyE - 2014-03-16 11:26 PM
It is hard to believe that negotiating a purchase of that amount there would be nothing in writing and the seller would be able to change the price? Why would one go to the trouble to form an LLC with all that paperwork, but fail to have the purchase price in a contract , so that the price could not change if the horse was not paid in full at time of first competition?
This is all really strange to me and I have no dog in the fight I guess my organizational tendencies like everything to add up!
Price did not change It was the % of winnings that were not complied with that is the root of this |
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Shelter Dog Lover
Posts: 10277
| SG. - 2014-03-16 11:33 PM
TyE - 2014-03-16 11:26 PM
It is hard to believe that negotiating a purchase of that amount there would be nothing in writing and the seller would be able to change the price? Why would one go to the trouble to form an LLC with all that paperwork, but fail to have the purchase price in a contract , so that the price could not change if the horse was not paid in full at time of first competition?
This is all really strange to me and I have no dog in the fight I guess my organizational tendencies like everything to add up!
Price did not change It was the % of winnings that were not complied with that is the root of this
Yes, it really is not complicated. Buying him at auction, getting 90% of the proceeds refunded to you is cheaper than remaining in the partnership and sharing future earnings. |
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Expert
Posts: 1409
| SG. - 2014-03-16 11:33 PM TyE - 2014-03-16 11:26 PM It is hard to believe that negotiating a purchase of that amount there would be nothing in writing and the seller would be able to change the price? Why would one go to the trouble to form an LLC with all that paperwork, but fail to have the purchase price in a contract , so that the price could not change if the horse was not paid in full at time of first competition?
This is all really strange to me and I have no dog in the fight I guess my organizational tendencies like everything to add up! Price did not change It was the % of winnings that were not complied with that is the root of this
Well that makes sense!
I was just going by what Loflin had posted about the "owner kept increasing the price, which made the purchasing difficult." |
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Expert
Posts: 1409
| stayceem - 2014-03-16 11:30 PM TyE - 2014-03-16 11:26 PM It is hard to believe that negotiating a purchase of that amount there would be nothing in writing and the seller would be able to change the price? Why would one go to the trouble to form an LLC with all that paperwork, but fail to have the purchase price in a contract , so that the price could not change if the horse was not paid in full at time of first competition?
This is all really strange to me and I have no dog in the fight I guess my organizational tendencies like everything to add up! From what I gather..... 1. ) Mary rode Latte before anything was formed or in writing which is why is purchase price could increase. From past articles, Mary was riding Latte to season him for Cheri. 2. ) Christy states he was paid in full but Cheri retainined 10% of ownership (this part I dont understand ). 3. ) They formed an LLC at that point in the sale. But the value of his was maybe never set in stone. Could be why the judge couldnt make an easier ruling. Contracts are really really tricky. I took business law and litigation and there are Sooo many loopholes and pieces to the puzzle. If you miss one by accident, it can throw a whole wrench into everything. ETA - no dog in this fight. Just learning a lot from a unfortuante situation.
Thanks! |
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Regular
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| So basically the Walkers could bid a million dollars and would "only" put another 100k in him? This doesn't sound like a wise decision on the judges part. He should have just made a decision on the value. Because no one will out bid them I'm sure, because they are only paying 10 percent of what anyone else would. So either they won't get any bidders or the other party will either run the bid up or have someone else do it. I would assume the walkers would go up to at least one million if not a little more..... |
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Veteran
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Location: Wyoming | Money the root of evil!! This makes me so sad the biggest loss is probably a friendship worth more than money. I hope Mary keeps Latte and Cogburn gets her money. |
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Shelter Dog Lover
Posts: 10277
| fatchance - 2014-03-16 11:17 PM loflin06 - 2014-03-16 9:14 PM Mary had Latte 6 months prior to the purchase and the owner kept increasing the price as Mary and Latte began winning at WPRA and other events. Anything above $1,500 in equistat earrings prior to Mary getting on him was all won with Mary as the rider. This made purchasing him difficult therefore the retainer of the 10% by Cogburns. Mary was also hurt by Latte, Mary should sue Cogburns.
I guess she would have to sue herself too since she was part owner. Why do you see it as so wrong that the Cogburns want paid to they feel what was agreed upon? Christy has verified they were 10% owners and must owners get a share of the winnings. |
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Expert
Posts: 1409
| TxBronc - 2014-03-16 11:48 PM So basically the Walkers could bid a million dollars and would "only" put another 100k in him? This doesn't sound like a wise decision on the judges part. He should have just made a decision on the value. Because no one will out bid them I'm sure, because they are only paying 10 percent of what anyone else would. So either they won't get any bidders or the other party will either run the bid up or have someone else do it. I would assume the walkers would go up to at least one million if not a little more.....
Yes, but someone said earlier that the full purchase price would have to be paid before they could get the horse, so that means to me that they would have to put up all the money and then get refunded their percent, but I could be wrong.............. |
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A Somebody to Everybody
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Location: Under The Big Sky Of Texas | This all sounds like a really screwed up mess and someone really screwed up  |
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Not Afraid to Work
Posts: 4717
| TyE - 2014-03-16 11:53 PM
TxBronc - 2014-03-16 11:48 PM So basically the Walkers could bid a million dollars and would "only" put another 100k in him? This doesn't sound like a wise decision on the judges part. He should have just made a decision on the value. Because no one will out bid them I'm sure, because they are only paying 10 percent of what anyone else would. So either they won't get any bidders or the other party will either run the bid up or have someone else do it. I would assume the walkers would go up to at least one million if not a little more.....
Yes, but someone said earlier that the full purchase price would have to be paid before they could get the horse, so that means to me that they would have to put up all the money and then get refunded their percent, but I could be wrong..............
Yeah but I feel like they know enough people and for those who understand the situation would help them get the money upfront and then reimburse. Again risky, but possibility. Thats assuming loans and such are not an option. |
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Proud to be Deplorable
Posts: 1929
| TyE - 2014-03-16 11:53 PM
TxBronc - 2014-03-16 11:48 PM So basically the Walkers could bid a million dollars and would "only" put another 100k in him? This doesn't sound like a wise decision on the judges part. He should have just made a decision on the value. Because no one will out bid them I'm sure, because they are only paying 10 percent of what anyone else would. So either they won't get any bidders or the other party will either run the bid up or have someone else do it. I would assume the walkers would go up to at least one million if not a little more.....
Yes, but someone said earlier that the full purchase price would have to be paid before they could get the horse, so that means to me that they would have to put up all the money and then get refunded their percent, but I could be wrong..............
Correct plus court costs. And some courts take 30 to 45 days to distribute the funds. |
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Shelter Dog Lover
Posts: 10277
| stayceem - 2014-03-16 11:56 PM
TyE - 2014-03-16 11:53 PM
TxBronc - 2014-03-16 11:48 PM So basically the Walkers could bid a million dollars and would "only" put another 100k in him? This doesn't sound like a wise decision on the judges part. He should have just made a decision on the value. Because no one will out bid them I'm sure, because they are only paying 10 percent of what anyone else would. So either they won't get any bidders or the other party will either run the bid up or have someone else do it. I would assume the walkers would go up to at least one million if not a little more.....
Yes, but someone said earlier that the full purchase price would have to be paid before they could get the horse, so that means to me that they would have to put up all the money and then get refunded their percent, but I could be wrong..............
Yeah but I feel like they know enough people and for those who understand the situation would help them get the money upfront and then reimburse. Again risky, but possibility. Thats assuming loans and such are not an option.
I think there definitely some strategy to this. |
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Veteran
Posts: 165
| phillyincal - 2014-03-16 10:59 PM
loflin06 - 2014-03-17 8:56 PM
That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
This is what I was going to ask...what would stop the Walkers from bidding on him and buying him back? Sounds like that is the plan. I sure hope it all works out, they are such an amazing team!
JMO but anyone who would raise their hand and bid against Mary Walker to take that horse away from her would have to be pretty cold hearted and ashamed of themselves. They are a team who belong together. Anyone buying him out from under her in these circumstances would be considered a horse theif in my eyes! |
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Regular
Posts: 61
| TyE - 2014-03-16 11:53 PM
TxBronc - 2014-03-16 11:48 PM So basically the Walkers could bid a million dollars and would "only" put another 100k in him? This doesn't sound like a wise decision on the judges part. He should have just made a decision on the value. Because no one will out bid them I'm sure, because they are only paying 10 percent of what anyone else would. So either they won't get any bidders or the other party will either run the bid up or have someone else do it. I would assume the walkers would go up to at least one million if not a little more.....
Yes, but someone said earlier that the full purchase price would have to be paid before they could get the horse, so that means to me that they would have to put up all the money and then get refunded their percent, but I could be wrong..............
I doubt that would be a issue? If they don't have it I'm sure someone that does will loan them use of it for a day or two. |
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Regular
Posts: 61
| Glittergirl - 2014-03-16 11:58 PM
phillyincal - 2014-03-16 10:59 PM
loflin06 - 2014-03-17 8:56 PM
That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
This is what I was going to ask...what would stop the Walkers from bidding on him and buying him back? Sounds like that is the plan. I sure hope it all works out, they are such an amazing team!
JMO but anyone who would raise their hand and bid against Mary Walker to take that horse away from her would have to be pretty cold hearted and ashamed of themselves. They are a team who belong together. Anyone buying him out from under her in these circumstances would be considered a horse theif in my eyes!
I don't think that is fair to say. They other party may have legitimate case. |
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Not Afraid to Work
Posts: 4717
| Glittergirl - 2014-03-16 11:58 PM
phillyincal - 2014-03-16 10:59 PM
loflin06 - 2014-03-17 8:56 PM
That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
This is what I was going to ask...what would stop the Walkers from bidding on him and buying him back? Sounds like that is the plan. I sure hope it all works out, they are such an amazing team!
JMO but anyone who would raise their hand and bid against Mary Walker to take that horse away from her would have to be pretty cold hearted and ashamed of themselves. They are a team who belong together. Anyone buying him out from under her in these circumstances would be considered a horse theif in my eyes!
Dont get me wrong because I love Mary & Latte but this in essense is a bad business deal/transaction. I dont know who dropped the ball or who's fault but this horse is going to a public auction. I for one wouldnt bid against her even if I had the funds but I wouldnt crucify someone who did because they wanted to take part in something incredible (the chance to own and run a horse like latte). |
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 Certified Snake Wrangler
Posts: 1672
Location: North MS | I can see this auction price ending extremely high! What if it is in the multi-millions since nothing like this has ever happened before. Either way it will be interesting to see how it turns out. Seems like greed could ruin a great horse/person team and partnership potentially.
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | rodeomom3 - 2014-03-16 11:50 PM fatchance - 2014-03-16 11:17 PM loflin06 - 2014-03-16 9:14 PM Mary had Latte 6 months prior to the purchase and the owner kept increasing the price as Mary and Latte began winning at WPRA and other events. Anything above $1,500 in equistat earrings prior to Mary getting on him was all won with Mary as the rider. This made purchasing him difficult therefore the retainer of the 10% by Cogburns. Mary was also hurt by Latte, Mary should sue Cogburns.
..and share in expenses, going down the road is not cheap, that is where it gets tricky in most cases.
Partnerships like this almost never work out to the satisfaction of both parties, they seem to bring out the worst in people, friends and family included. |
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 Extreme Veteran
Posts: 452
Location: Alberta | This is just an assumption but I bet this auction would be ran similar to many other large auctions where in order to be a registered bidder you have to have a certified letter from your bank stating how much funds is available to you. This will prevent any random Jo blow from coming in and running up bids to make Walkers pay more knowing that they will not let that horse go for nothing. At least that should prevent the bids from getting outrageously high (meaning in the millions)!
This similar auction scinerio happened close to where I live a few years ago because of a nasty divorce. A lady had about 7 very nice western pleasure, halter, hunter horses that she paid big money for, for her daughters. In the divorce settlings she had to prove the worth of the horses so being the scuzzy kinda person she is she decided to load them up and take them to a small rural auction a couple hrs from where she lived thinking no one would know her and run them through loose at the end of the sale and buy them back for cheap, she would only be out the commission to the sale barn and would have to pay out her ex only a fraction of the true value of the horses. Well little did she know, the wrong person would be at the sale that day; someone who had been wronged by her in the past and had many friends who also had bad dealings with this chick!! Well this person got a little revenge and ran her up a wee bit knowing she would never let them sell as they were her kids horses!
I hope everything works out for the best and both parties involved will be satisified with the outcome. |
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 Elite Veteran
Posts: 742
| Stridin' Out - 2014-03-16 10:44 PM Ms Loflin does not have her facts correct. The auction is not simply to determine value. The auction is to sell the horse. The winning bidder - whoever that may be - must deposit the FULL amount of the bid price with the registry of the court. The horse will be sold once funds are deposited.
Stridin out kind of knows what she is talking about as she is one of the parties involved. I like both Cheri and Mary and wish things would have been ok for all parties, Latte included. It's heartbreaking. |
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| There is always more than the picture on the cover of the book .... links will explain themselves ... just read them all the way thru ...
http://www.corporationwiki.com/Texas/Ennis/walker-cogburn-llc/10754...
http://barrelhorsenews.com/articles/rodeo/3890-2012-top-rode-horses...
https://www.facebook.com/WPRACACircuit/posts/115667161931683
PERCULATIN .... 2012
2012 World standings place: 1st
2012 Earnings: $127,292
2012 Wrangler NFR place: 2nd
2012 Wrangler NFR earnings: $146,941
PERCULATIN .. 2013
http://www.wpra.com/standings_nfr_13.asp
https://www.facebook.com/pages/Mary-Walker/462957567119707?sk=info
There is always more than meets the eye ....
if winning and lease fees were to be split ...
Owner: Walker & Cogburn LLC. TIE-DOWN ROPING. 1st BIG SMOKIN WONDER, aka "PEARL". Ridden by: Cody Ohl, Blair Burk, Chase Williams, Trevor Brazile.
In an LLC Corporation only the assets of the LLC can be attacked and not your personal property by any lawsuits. One of the partners can clean out the assets and turn them into personal assets and leave the other LLC partner hanging.
Lawyers and courts are the next step to correct any wrong doing, value of assets to be split per money owed either partner(s) by value and/or unpaid commissions or absolve the LLC ..
YOU FIGURE IT OUT... ..
Edited by BARRELHORSE USA 2014-03-17 3:20 AM
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Not sure where you were going with all that? Lol
But I do know people shouldn't discount one person side because they may not be as well known.
This isn't the first trouble of this sort for one of the parties, including a few arrests. |
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Not Afraid to Work
Posts: 4717
| yellowhorse1 - 2014-03-17 4:54 AM
Not sure where you were going with all that? Lol
But I do know people shouldn't discount one person side because they may not be as well known.
This isn't the first trouble of this sort for one of the parties, including a few arrests.
Dont get the thread zapped lol  |
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Location: Over by those oil wells, TX | Do you think the amount they had him insured for could have been used for him or against him. I wonder if that is factored in. If Latte or Perculatin either one was insured for an extremely high amount then things could have gotten complicated too. What a huge shame and mess...then add attorneys into the situation and the reading could get very interesting. My wish and prayer is that the most honest people win for a change and not the just the ones who hire the most clever attorneys. I want honesty to truly prevail for a change.
Edited by hopin4$ 2014-03-17 6:05 AM
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Hungarian Midget Woman
Location: Midwest | Sounds like a sad sitch all around.
I'm sure they will get it worked out so that Mary can still run him. He is such a nice boy.
Business parts of this conflict aside, as a horse person I have to feel for Mary. Knowing there is a possibility that I could lose a horse that I loved would really tear me up. I'm sure she's upset about this. How could a person not be at least a little worried in a situation such as this. It's obvious that she loves the horse a lot, especially after all she has gone through with him. |
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boon
Posts: 4
| The court docs don't state any % for either party. It says all $$ from the auction will be deposited into escrow and basically they will fight over money in court. Bottom line is Attorneys are probably getting most of it from both sides. Business is Business, if you take care of business this stuff doesn't happen. It's any secret that one of the parties is known to be a bit crooked anyway.
As far as they buyers, Walkers can go and buy him, but anybody else that may end up with him Congrats!! If you can buy him and you own him why not!!
Walker's will probably be in more trouble anyhow, Latte was not suppose to leave the premises until auction date after midnight of the 13th of March. They still ran him, imo they just keep breaking laws and rules
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boon
Posts: 4
| I agree, Ms. Loflin doesn't have any facts correct. The judge may say Cogburn is due 80% because of all the stress and lies and cheat she has been put through.
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boon
Posts: 4
| Auction Information:
10am on March 27th
Waxahachie Rodeo Arena
Registration 9am |
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 Hugs to You
Posts: 7551
Location: In The Land of Cotton | All I can say is - it was a business deal.
However, I feel that Mary is such a spiritual woman, that no matter what happens she will find peace. Losing Latte would be devastating to her, however, I am sure she realizes there are a lot more horrible things that could happen to her in this world. She will survive.
And please don't' take this wrong - I would cry, scream, cuss and throw things. Be totally devasted as I know she would be.
Edited by 3canstorun 2014-03-17 7:12 AM
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| 3canstorun - 2014-03-17 7:08 AM
All I can say is - it was a business deal.
However, I feel that Mary is such a spiritual woman, that no matter what happens she will find peace. Losing Latte would be devastating to her, however, I am sure she realizes there are a lot more horrible things that could happen to her in this world. She will survive.
And please don't' take this wrong - I would cry, scream, cuss and throw things. Be totally devasted as I know she would be.
What about Cheri? |
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Veteran
Posts: 247
Location: Red Oak, Texas 75154 | |
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Hugs to You
Posts: 7551
Location: In The Land of Cotton | yellowhorse1 - 2014-03-17 8:13 AM 3canstorun - 2014-03-17 7:08 AM All I can say is - it was a business deal.
However, I feel that Mary is such a spiritual woman, that no matter what happens she will find peace. Losing Latte would be devastating to her, however, I am sure she realizes there are a lot more horrible things that could happen to her in this world. She will survive.
And please don't' take this wrong - I would cry, scream, cuss and throw things. Be totally devasted as I know she would be. What about Cheri?
I don't know Cheri, so I cannot say anything about her. I didn't even know her last name until it was mentioned on here. However, I do know that Mary did haul Latte and probably developed a little more of a relationship with the horse. She was the day to day care giver. From what little I have gathered, Cheri, was more of a financial partner. Correct me if I am wrong.
Both people involved deserve the full financial gains they agreed upon in the original contract. However, it is my personal opinion that Mary was the one who developed and was able to bring out the talent that Latte has. To me Mary will be the one who misses the day to day contact/caring/friendship that Latte has given her. Unless, of course, Cheri has also traveled with Latte for the past couple of years. |
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 Neat Freak
Posts: 11216
Location: Wonderful Wyoming | So I am going to throw something out there. Won't the Brazillians be all over him or will he lack any value to them because he is a gelding? |
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Veteran
Posts: 247
Location: Red Oak, Texas 75154 | Jan Sigler - 2014-03-17 7:15 AM
Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
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 Queen Boobie 2
Posts: 7521
| TxBronc - 2014-03-17 12:02 AM Glittergirl - 2014-03-16 11:58 PM phillyincal - 2014-03-16 10:59 PM loflin06 - 2014-03-17 8:56 PM That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice. This is what I was going to ask...what would stop the Walkers from bidding on him and buying him back? Sounds like that is the plan. I sure hope it all works out, they are such an amazing team! JMO but anyone who would raise their hand and bid against Mary Walker to take that horse away from her would have to be pretty cold hearted and ashamed of themselves. They are a team who belong together. Anyone buying him out from under her in these circumstances would be considered a horse theif in my eyes! I don't think that is fair to say. They other party may have legitimate case.
I agree.
How many times do we read on here about people not fulfilling their obligations in a horse "deal", and everyone gets up in arms about the person who doesn't do what they agreed to.
Most of us here do not know the facts in this case, but it is very possible some obligations of the agreement were not met for a judge to order this sale.
I have seen horses go through horse auctions to dissolve a partnership when parties can't agree on what the horse is worth. Sometimes, one party will buy the horse at auction....and yes, they have to have the full purchase price up front and then they get their percentage from the sale after the commission is deducted. |
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Shelter Dog Lover
Posts: 10277
| Jan Sigler - 2014-03-17 7:25 AM Jan Sigler - 2014-03-17 7:15 AM Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
This sale is about breach of contract between the Walkers and Cheri Cogburn. There is no dispute that Mary made Latte a star and loves and is bonded with him. Emotions aside though, this is about honoring the agreed upon contract.
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Queen Boobie 2
Posts: 7521
| wyoming barrel racer - 2014-03-17 7:23 AM So I am going to throw something out there. Won't the Brazillians be all over him or will he lack any value to them because he is a gelding?
It's my understanding they can't import geldings. |
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| Jan Sigler - 2014-03-17 7:25 AM
Jan Sigler - 2014-03-17 7:15 AM
Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
You are wrong. I'm not saying who the bad guy is here. But I will say look at the past behaviour of one of the parties involved. And you might have a difft take on things |
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Tried and True
Posts: 21185
Location: Where I am happiest | It really isnt quite fair in that obviously, the horse is worth ALOT more now, then he was when the purchase was made. Has the 10% paid 10% of all expences also and 10% of training, care, hauling, vet, shoeing, ect. ect. ect. all this time?
Let this be a lesson to everybody. Never buy, or sell any horse ever with strings attached. EVER. Buy it outright in full, shake hands and part way's or dont buy that horse. |
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Veteran
Posts: 247
Location: Red Oak, Texas 75154 | yellowhorse1 - 2014-03-17 7:33 AM
Jan Sigler - 2014-03-17 7:25 AM
Jan Sigler - 2014-03-17 7:15 AM
Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
You are wrong. I'm not saying who the bad guy is here. But I will say look at the past behaviour of one of the parties involved. And you might have a difft take on things
U did not answer any of my questions?. You went to another subject |
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Hugs to You
Posts: 7551
Location: In The Land of Cotton | Jan Sigler - 2014-03-17 8:54 AM yellowhorse1 - 2014-03-17 7:33 AM Jan Sigler - 2014-03-17 7:25 AM Jan Sigler - 2014-03-17 7:15 AM Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
You are wrong. I'm not saying who the bad guy is here. But I will say look at the past behaviour of one of the parties involved. And you might have a difft take on things U did not answer any of my questions?. You went to another subject
Unfortuantely, I would like answers to - however, unless we know what the original contract said, was the person who owned the 10% supposed to pay 10% of the expenses?
That is the question - and if they were contractually obligated, did they?
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 Famous for Not Complaining
Posts: 8848
Location: Broxton, Ga | bennie1 - 2014-03-16 8:33 AM wyoming barrel racer - 2014-03-17 7:23 AM So I am going to throw something out there. Won't the Brazillians be all over him or will he lack any value to them because he is a gelding? It's my understanding they can't import geldings.
I doubt the Brazilians would be interested in a gelding. They like mare and studs. But I can bet there may be some open riders especially say youth riders parents interested in this caliber of horse.
As for what is right seems something happened and now a wrong is in process of being made right. Sad it has come to this for all involved.
Edited by CJE 2014-03-17 8:05 AM
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Shelter Dog Lover
Posts: 10277
| 3canstorun - 2014-03-17 7:58 AM Jan Sigler - 2014-03-17 8:54 AM yellowhorse1 - 2014-03-17 7:33 AM Jan Sigler - 2014-03-17 7:25 AM Jan Sigler - 2014-03-17 7:15 AM Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
You are wrong. I'm not saying who the bad guy is here. But I will say look at the past behaviour of one of the parties involved. And you might have a difft take on things U did not answer any of my questions?. You went to another subject Unfortuantely, I would like answers to - however, unless we know what the original contract said, was the person who owned the 10% supposed to pay 10% of the expenses?
That is the question - and if they were contractually obligated, did they?
What is also the question is did the Walkers continue to pay to Cheri Cogburn what was agreed upon in the contract. |
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Veteran
Posts: 220
| I was wondering when this would come out again. I posted it about it about two weeks ago and my thread got deleted. I figured they were trying to keep it hush hush. |
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Veteran
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| Oh and to add I also heard starting bid is 750k. |
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Hugs to You
Posts: 7551
Location: In The Land of Cotton | rodeomom3 - 2014-03-17 9:22 AM 3canstorun - 2014-03-17 7:58 AM Jan Sigler - 2014-03-17 8:54 AM yellowhorse1 - 2014-03-17 7:33 AM Jan Sigler - 2014-03-17 7:25 AM Jan Sigler - 2014-03-17 7:15 AM Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
You are wrong. I'm not saying who the bad guy is here. But I will say look at the past behaviour of one of the parties involved. And you might have a difft take on things U did not answer any of my questions?. You went to another subject Unfortuantely, I would like answers to - however, unless we know what the original contract said, was the person who owned the 10% supposed to pay 10% of the expenses?
That is the question - and if they were contractually obligated, did they?
Yes it is :)
Were all aspects of the contract kept, from both sides?
The magic question. Just a bad situation all the way around.
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Warmblood with Wings
Posts: 27846
Location: Florida.. | Southtxponygirl - 2014-03-17 12:55 AM This all sounds like a really screwed up mess and someone really screwed up
its how rumors fly. then on top of it to read about what others say or feel about it .. its not everyones personal life its theirs.. my opinon.they didnt post it on bhw... there is a reason.. its a private matter..
Edited by Bibliafarm 2014-03-17 8:42 AM
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 Whack and Roll
Posts: 6342
Location: NE Texas | Make no mistake, this is not the first nice horse that has come from Cheri Cogburn's barn. I don't know her personally other than to say "nice run" or smile when riding by at a barrel race, but what I can say is that Cheri played a big part in making Latte what he is. I can remember seeing her trot him through the exhibitions as a colt. Perhaps she's not the name you think of when you think of Latte, but the hard work was done when Mary swung her leg over him for the first time. As a trainer, sometimes it is very hard to set your pride aside, back off and try to win something and you need someone more "fearless" to do this for you to bring a horse from a nice horse to a great horse. This IMO is where Mary comes in. I'm not discounting what she has accomplished on him, but the horse was pretty much finished when she got him. Maybe not seasoned, but finished. As for CL's post about equistat earnings.....that's not a justifiable mark as to the horse's worth, and if so, the Walker's giving $120K for a horse with those meager earnings is insane. Give me a break! And to be honest, I think it was in poor taste to list dollar amounts anyway.
I can assure you that the Cogburns are not attention seeking people who are trying to take away a horse from a deserving person. Bottom line is had the Walker's held up their end of the aggreement, this wouldn't be the situation. They did not. Period. My hope is that someone DESERVING gets the horse. Wouldn't hurt my feelings one bit to see Cheri get him back and for her to spank us even more at our little local barrel races, however she probably just wants to get what she is owed and be done with the deal all together.
Just because Mary suffered personal tragedy (and please understand i'm not taking that lightly....no parent should ever have to endure the pain of losing a child) doesn't maek her the deserving party here. She didn't make the horse....she took him from a very nice horse to a great horse by being able to throw pride aside and just going and trying to win something, but she didn't hold up her end of the agreement. I wish the best for the Cogburns and hope they get what they are owed and pray that Latte finds himself in the hands of someone who will appreciate him for what he is.
Edited by Herbie 2014-03-17 10:09 AM
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 Voice of Reason
Location: NOT at Wal Mart | I heard this, I heard that...... |
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Hungarian Midget Woman
Location: Midwest | Interesting to hear both sides of things.
I'm not sure what to think, as I don't know either party or really anything other than what's posted.... I suppose even our sport's elite racers are not immune from having horse deals go bad at times. |
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 Ms Bling Bling Sleeze Kitty
Posts: 20917
Location: LouLouVille, OK | Herbie - 2014-03-17 8:46 AM Make no mistake, this is not the first nice horse that has come from Cheri Cogburn's barn. I don't know her personally other than to say "nice run" or smile when riding by at a barrel race, but what I can say is that Cheri played a big part in making Latte what he is. I can remember seeing her trot him through the exhibitions as a colt. Perhaps she's not the name you think of when you think of Latte, but the hard work was done when Mary swung her leg over him for the first time. As a trainer, sometimes it is very hard to set your pride aside, back off and try to win something and you need someone more "fearless" to do this for you to bring a horse from a nice horse to a great horse. This IMO is where Mary comes in. I'm not discounting what she has accomplished on him, but the horse finished when she got him. Maybe not seasoned, but finished. As for CL's post about equistat earnings.....that's not a justifiable mark as to the horse's worth, and if so, the Walker's giving $120K for a horse with those meager earnings is insane. Give me a break! And to be honest, I think it was in poor taste to list dollar amounts anyway.
I can assure you that the Cogburns are not attention seeking people who are trying to take away a horse from a deserving person. Bottom line is had the Walker's held up their end of the aggreement, this wouldn't be the situation. They did not. Period. My hope is that someone DESERVING gets the horse. Wouldn't hurt my feelings one bit to see Cheri get him back and for her to spank us even more at our little local barrel races, however she probably just wants to get what she is owed and be done with the deal all together.
Just because Mary suffered personal tragedy (and please understand i'm not taking that lightly....no parent should ever have to endure the pain of losing a child) doesn't maek her the deserving party here. She didn't make the horse....she took him from a very nice horse to a great horse by being able to throw pride aside and just going and trying to win something. I wish the best for the Cogburns and pray that Latte finds himself in the hands of someone who will appreciate him for what he is.
Coming from someone that runs with these people I find your information dead on from others that run there...
It's a matter of public record, unless this gets totally stupid with speculations I think it will stay up.
It's been quiet the read thus far
We all have our thoughts on the subject and sometimes those come out more then facts...
My thoughts... A deal is a deal, when I bought my truck, I borrowed the money, so therefor the bank "owned" my truck till I paid it off. If at any point I choose not to make my payments they will only go so long before they come and get it.
I signed the papers saying I would do it, so I do it... Its just how I roll and Herbie, I couldn't agree with what you said more.
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | justcruzin - 2014-03-17 8:48 AM I heard this, I heard that......
Trust me, not even half the rumors going around have been posted here. I'm actually amazed at the restraint being shown. |
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 Good Grief!
Posts: 6343
Location: Cap'n Joan Rotgut.....alberta | Jan Sigler - 2014-03-18 6:25 AM Jan Sigler - 2014-03-17 7:15 AM Has the 10% owner paid any of the expenses to increase his value since the day Mary started riding Latte?
Also, I was told the Walkers had made a 6 figure offer to buy out the 10%.
Yes, Latte belongs with Mary, regardless of who pays for him at the sale.
Some people are just consumed with Greed and Jealously. Is this sale about money or to take Latte away from Mary??
i agree with this so much........
m
and if i had to pick a "side" i pick latte, i hope this works out the best way for him.............. |
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Elite Veteran
Posts: 1034
| The whole thing is SAD SAD SAD. Lesson learned - I will never buy a horse from someone who insists on retaining a percentage of "interest".
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More bootie than waist!
Posts: 18425
Location: Riding Crackhead. | We've only heard from one of the parties in this matter and I'll be the first to say I don't know squat about the situation except for what I've read online......BUT. In my mind, if there's a contract or agreement and all parties involved respected that said contract or agreement, there wouldn't be a court ordered auction going on next week. |
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Shelter Dog Lover
Posts: 10277
| HorseMommyFiveO - 2014-03-17 9:12 AM The whole thing is SAD SAD SAD. Lesson learned - I will never buy a horse from someone who insists on retaining a percentage of "interest".
We don't know if she insisted on retaining an interest in the horse or retained an intetest till the horse was paid in full. |
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10D Crack Champion
| And it's back. |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | Wow this is like a Yo-Yo, lol |
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Tried and True
Posts: 21185
Location: Where I am happiest | rodeomom3 - 2014-03-17 9:17 AM HorseMommyFiveO - 2014-03-17 9:12 AM The whole thing is SAD SAD SAD. Lesson learned - I will never buy a horse from someone who insists on retaining a percentage of "interest". We don't know if she insisted on retaining an interest in the horse or retained an intetest till the horse was paid in full.
Either way, it still drives home to NEVER, buy, or sell a horse with strings attached. If your going to sell something, SELL IT in full and move on. If your going to buy something, buy it, pay for it in full and go on with your new horse.
Selling or buying a horse with strings attached almost always goes south and lets be honest, a horse is not a inanimate object like a car. It is a living, breathing being and does bring emotion into the equation. This whole thing is very sad and could have, and should have been avoided IF THERE WERE NO STRINGS ATTACHED. |
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Shelter Dog Lover
Posts: 10277
| ThreeCorners - 2014-03-17 10:12 AM
rodeomom3 - 2014-03-17 9:17 AM HorseMommyFiveO - 2014-03-17 9:12 AM The whole thing is SAD SAD SAD. Lesson learned - I will never buy a horse from someone who insists on retaining a percentage of "interest". We don't know if she insisted on retaining an interest in the horse or retained an intetest till the horse was paid in full.
Selling or buying a horse with strings attached almost always goes south and lets be honest, a horse is not a inanimate object like a car. It is a living, breathing being and does bring emotion into the equation. This whole thing is very sad and could have, and should have been avoided IF THERE WERE NO STRINGS ATTACHED.
I agree, just goes to show no matter how big or small the playing field the same rules apply. |
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10D Crack Champion
| What about situations where horses are leased? I know there are a few NFR horses who have been leased for a few years by the same person in other events & it seems to work. Do these leases usually have a detailed contract? I understand lease was not part of the equation here. I'm just curious how an extended lease works in the case of high dollar competitve horses. |
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Warmblood with Wings
Posts: 27846
Location: Florida.. | its not uncommon in high dollar warmbloods.. to have partners, corporations etc.. but you have to follow the rules and do as agreed upon. |
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 Always Off Topic
Posts: 6382
Location: ND | i'm kind of surprised that no one has brought up the implications of what the future income may be if this horse is eventually cloned, whether by Walker's, Cogburn or someone else.......could be quite lucrative..... |
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 Expert
Posts: 2276
Location: ohio-in my own little world with pretty ponies :) | This is a very messed up situation. I really love watching Mary and Latte run but it seems as though someone wasn't paid or the deal went south like many others. I feel sorry for both parties involved in this mess. None of us are Mary, Byron, or the 10% owner or the judge so none of us know the whole story and shouldn't judge. I just hope it all ends up the best way for Latte. |
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 BHW Tour Guide & Concierge
Location: Cyberspace | No slandering will be allowed.
This thread is on thin ice. If it gets ugly again it goes.
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Always Off Topic
Posts: 6382
Location: ND | it would definitely be an interesting contract to study and an issue that should be thought of for future contracts.....like, did anyone specify rights to genetic material, or rights to future income from offspring......???? with this caliber of horse and technology, there are a lot of legal issues that could arise......that's the problem with contracts and why pretty soon they end up being 500,000,000 pages long and no one understands them anyway....lol |
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Elite Veteran
Posts: 629
Location: Roping pen | To me you need to take the horse out of it and look at it like the company that is. Every state is different, but in my 20 professional years of dealing with LLCs and partnerships, numerous issues can come up.
Is suit based on the nonperformance of the contractual arrangements that the LLC entered into? Or is it for ownership/valuation of the LLC?
My guess is that is stared out as the first and, one offered to buy out the other, and ended up the latter.
Any good attorney that draws up LLC docs instills an exit clause, a buy out clause, termination clause, performance requirements, etc., etc. Appears these are either in question as to the validities, or were not addressed as is typical in many of these LLCs that end up in court.
If a member of the LLC sues (assuming to force the other party out), the courts must decide what the orginal LLC bylaws stipulated. If no exit/buyout clause, liquidation can be the only option.
If settlement/damages/valuation can't be proven to the court's satisfaction, court can rule to liquidate the LLC. Hence the sheriff's sale. The court typically will not value something like this. If they did, appeals would be filed the day the ruling was public. I am sure both parties are way apart on this value.
So, the auction is true price discovery. Each party has the option to purchase the asset. BUT one must realize, if one buys the assets, they could be stuck with any and all the judgements, secured liens, taxes due and payable due to liquidation, etc of that asset and/or LLC. It is not as easy as just buying the horse. If there is money borrowed, liens in place, etc of the LLC, they must be satisfied. Taxes could be a deal breaker--ex. if bases (cost) of the asset (horse) is 150,000 and the asset is sold for $1m, a tax responsibility of over $200,000 could be enforced to the LLC and/or its new owner.
Live animals complicate this even further due to the carrying costs (care) of the assets while determinations are being discovered.
As usual, the only winners in this deal are the attorneys and uncle sam....
This is just my opinon only.
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 Texas Lone Star
Posts: 5318
Location: where ever my L/Q trl is parked | Glittergirl - 2014-03-16 11:58 PM phillyincal - 2014-03-16 10:59 PM loflin06 - 2014-03-17 8:56 PM That is correct, the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice. This is what I was going to ask...what would stop the Walkers from bidding on him and buying him back? Sounds like that is the plan. I sure hope it all works out, they are such an amazing team! They are a team who belong together. Anyone buying him out from under her in these circumstances would be considered a horse theif in my eyes!
JMO but anyone who would raise their hand and bid against Mary Walker to take that horse away from her would have to be pretty cold hearted and ashamed of themselves
I don't have a horse in this race either,but.....
Hasn't this happened once or twice in the past with other named horses/owners?
I can't remember who/what/where at this time.
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 Guys Just Wanna Have Fun
Posts: 5530
Location: OH | I am just curious at to why they did not do an appraissal on the horse and go off of that figure and come to an aggreement, maybe that was brought up and could not be agreed upon. Sad situation for all involved. |
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 I keep my butt inside
Posts: 3281
Location: Weatherford, Texas | Here is a little of the law behind this:
In an LLC it is protection from personal liability.
An order for a partition suit is used for a split the baby type thing but it is mainly when a partnership etc is no longer possible.
I HATE to see Mary and Latte split because I don't know what I would have done if someone had tried to take my Tiger- BUT the lawyer in me says that someone has some property rights that were not honored in some way. A deal gone bad usually has wrongdoing on both sides. Someone not bidding over Mary would be wrong to the other person that has a property right. I know it is hard to compare- but in your minds please think of it as an eminent domain suit- even though the county needs your land doesn't mean that they should pay less (theoretically) than what it is worth or what you are owed.
In a lawsuit there are always losers- but the way to avoid one is to do right and watch your Ps and Qs. |
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Warmblood with Wings
Posts: 27846
Location: Florida.. | dhdqhllc - 2014-03-17 11:41 AM it would definitely be an interesting contract to study and an issue that should be thought of for future contracts.....like, did anyone specify rights to genetic material, or rights to future income from offspring......???? with this caliber of horse and technology, there are a lot of legal issues that could arise......that's the problem with contracts and why pretty soon they end up being 500,000,000 pages long and no one understands them anyway....lol
and there are always words, phrases ,sentences ,terms misworded and it can lead to a big mess.. Make sure you have a good attorney draw them up and all the stipulations and terms and your T's crossed and I's dotted.. read between the lines and make sure its all correct. |
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I Really Love Jeans
Posts: 3173
Location: North Dakota | I think the 10% owner likely wants to cash out her 10% and they could not agree on an amount that both parties feels is fair. But nobody knows the facts for sure except those involved. I feel bad for everyone and hope the issue is resolved. I hope this doesn't catch the attention of someone with deep pockets or the horse may be under new ownership in another counrty really fast!!!! |
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Grammar Expert
| fatchance - 2014-03-16 10:17 PM loflin06 - 2014-03-16 9:14 PM Mary had Latte 6 months prior to the purchase and the owner kept increasing the price as Mary and Latte began winning at WPRA and other events. Anything above $1,500 in equistat earrings prior to Mary getting on him was all won with Mary as the rider. This made purchasing him difficult therefore the retainer of the 10% by Cogburns. Mary was also hurt by Latte, Mary should sue Cogburns.
It's just this kind of thinking that likely got them both into this mess in the first place. Greed. |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | I'm hoping that who ever gets Latte, will keep Mary as his Jockey, these two were meant to be a team. Are better yet gift him to her  |
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 Pork Fat is my Favorite
Posts: 3791
Location: The Oklahoma plains. | bennie1 - 2014-03-17 7:33 AM wyoming barrel racer - 2014-03-17 7:23 AM So I am going to throw something out there. Won't the Brazillians be all over him or will he lack any value to them because he is a gelding? It's my understanding they can't import geldings.
I think this is true but I also think they dont mind owning a piece of the best property in the world and have the money to do so- even if they have to keep it here in the USA?
I feel bad for a horse deal to come to this. How sad for all involved. Especially the horse- he may have a new home and new rider......
And there is no bigger fan of Mary than I but I can see where maybe the other party knew they had a GREAT horse that had HUGE potential and did not want to sell him. Im guessing that it was the only deal they could agree to and it seems the agreement was not fullfilled. |
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BHW's Simon Cowell
Location: The Saudia Arabia of Wind Energy, Western Oklahoma | Well I know one person that would more than likely buy him and definelty has the funds to do it. Throw in the money that could be generated from cloning, he will bring big bucks. But the 90% owner will get 90% of the proceeds and will probably have to pay taxes on that.
The 10% owner should have been getting a share of the winnings. If Latte wins 300k in a year then they would be required to pay 30k to the 10% owner I am assuming. I'm sure if the 10% owner would have probably been happy to get that, but I'm just guessing that.
So do we really think that the 10% has been getting paid her share of the winnings and is just being greedy? If I were the 10% owner and was getting paid 10% I think I would have been happy to just collect my royalties. It kinda looks like maybe the 10% owner hasn't been getting her 10% of the winnings. |
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Whack and Roll
Posts: 6342
Location: NE Texas | ksjackofalltrades - 2014-03-17 10:59 AM Well I know one person that would more than likely buy him and definelty has the funds to do it. Throw in the money that could be generated from cloning, he will bring big bucks. But the 90% owner will get 90% of the proceeds and will probably have to pay taxes on that.
The 10% owner should have been getting a share of the winnings. If Latte wins 300k in a year then they would be required to pay 30k to the 10% owner I am assuming. I'm sure if the 10% owner would have probably been happy to get that, but I'm just guessing that.
So do we really think that the 10% has been getting paid her share of the winnings and is just being greedy? If I were the 10% owner and was getting paid 10% I think I would have been happy to just collect my royalties. It kinda looks like maybe the 10% owner hasn't been getting her 10% of the winnings.
Nailed it.... |
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Veteran
Posts: 247
Location: Red Oak, Texas 75154 | If you have an opinion ,want to state facts, rumors, say hateful lies, please use your real name and not hide behind an alias. Really, if you want to stir the pot quit hiding behind a fake name. |
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Expert
Posts: 1956
Location: Ky | All emotions have to set aside now that it's in the courts. This is a legal proceeding now. I don't know what was in the contract and I doubt anyone posting here does either.
All contracts are covenants of good faith. Without good faith there can be no contract. Obviously when involving an animal and it getting this far there has been accusations of bad faith by one or both parties. You don't have to be a lawyer to make that leap. If it was a simply a contractural interpretation problem it would already be handled.
They should handle it before the auction or they will most likley both get a result they don't want or like.
It may be past the point of level headed mitigation? |
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 Cute Little Imp
Posts: 2747
Location: N Texas | What I find a little funny is how so many people feel sorry for the horse, like he's a kid in the middle of a messy divorce. Latte has not one clue about anything going on. Do you really think he's going to be broken hearted if he has a new home and new owner/rider? Horses get sold/traded/leased all the time without a single thought to the horse's "feelings".
Just my thoughts |
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Proud to be Deplorable
Posts: 1929
| ksjackofalltrades - 2014-03-17 10:59 AM
Well I know one person that would more than likely buy him and definelty has the funds to do it. Throw in the money that could be generated from cloning, he will bring big bucks. But the 90% owner will get 90% of the proceeds and will probably have to pay taxes on that.
The 10% owner should have been getting a share of the winnings. If Latte wins 300k in a year then they would be required to pay 30k to the 10% owner I am assuming. I'm sure if the 10% owner would have probably been happy to get that, but I'm just guessing that.
So do we really think that the 10% has been getting paid her share of the winnings and is just being greedy? If I were the 10% owner and was getting paid 10% I think I would have been happy to just collect my royalties. It kinda looks like maybe the 10% owner hasn't been getting her 10% of the winnings.
That brings up another question...what is 10% before expenses or after? Big difference. |
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BHW's Simon Cowell
Location: The Saudia Arabia of Wind Energy, Western Oklahoma | jbhoot - 2014-03-17 11:08 AM ksjackofalltrades - 2014-03-17 10:59 AM Well I know one person that would more than likely buy him and definelty has the funds to do it. Throw in the money that could be generated from cloning, he will bring big bucks. But the 90% owner will get 90% of the proceeds and will probably have to pay taxes on that.
The 10% owner should have been getting a share of the winnings. If Latte wins 300k in a year then they would be required to pay 30k to the 10% owner I am assuming. I'm sure if the 10% owner would have probably been happy to get that, but I'm just guessing that.
So do we really think that the 10% has been getting paid her share of the winnings and is just being greedy? If I were the 10% owner and was getting paid 10% I think I would have been happy to just collect my royalties. It kinda looks like maybe the 10% owner hasn't been getting her 10% of the winnings. That brings up another question...what is 10% before expenses or after? Big difference.
Edited by ksjackofalltrades 2014-03-17 11:16 AM
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | Gunner11 - 2014-03-17 11:07 AM What I find a little funny is how so many people feel sorry for the horse, like he's a kid in the middle of a messy divorce. Latte has not one clue about anything going on. Do you really think he's going to be broken hearted if he has a new home and new owner/rider? Horses get sold/traded/leased all the time without a single thought to the horse's "feelings". Just my thoughts
Do you really think horses don't care? Well, maybe some don't, but some certainly do. They are property, and that's fine to treat them as such, but that doesn't mean we can't feel bad for them having their lives turned upside down because of decisions that are made for them. I hope he ends up in a place where he is well cared for and well-ridden...because we all know that money paid is no guarantee of either. |
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Veteran
Posts: 220
| Good point. Anyone that can spend the money to buy him probably has a mansion for a barn. When you spend that kind of money on a horse it isnt to send him to the killers or abuse him.
Edited by Firemanswife 2014-03-17 11:19 AM
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Proud to be Deplorable
Posts: 1929
| ksjackofalltrades - 2014-03-17 11:12 AM
jbhoot - 2014-03-17 11:08 AM ksjackofalltrades - 2014-03-17 10:59 AM Well I know one person that would more than likely buy him and definelty has the funds to do it. Throw in the money that could be generated from cloning, he will bring big bucks. But the 90% owner will get 90% of the proceeds and will probably have to pay taxes on that.
The 10% owner should have been getting a share of the winnings. If Latte wins 300k in a year then they would be required to pay 30k to the 10% owner I am assuming. I'm sure if the 10% owner would have probably been happy to get that, but I'm just guessing that.
So do we really think that the 10% has been getting paid her share of the winnings and is just being greedy? If I were the 10% owner and was getting paid 10% I think I would have been happy to just collect my royalties. It kinda looks like maybe the 10% owner hasn't been getting her 10% of the winnings. That brings up another question...what is 10% before expenses or after? Big difference. No doubt and one would think if they had a lawyer draw up the deal, which they obviously did, that would be considered. On the expenses though, what would be included on that? The winnings could be wiped out pretty quick if you started subtracting high dollar rigs to get down the road.
Even if you take out the cost of rigs the cost to run for the NFR are huge...I have always wondered if there is any profit in it. |
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Tried and True
Posts: 21185
Location: Where I am happiest | Firemanswife - 2014-03-17 11:13 AM Good point. Anyone that can spend the money to buy him probably has a mansion for a barn. When you spend that kind of money on a horse it isnt to send him to the killers or abuse him. Abuse comes in many forms and lets be realistic here. ALOT of barrel raers can and are quite brutal and unfortunatelly, it seems the higher dollar horses that maybe dont quite perform for the new owner to the level of the past owner/rider are brutalized even more because they have all that money layed out there and the horse isnt re-couping it to their expectations.
Edited by ThreeCorners 2014-03-17 11:28 AM
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The Original Cyber Bartender
Location: Washington | Hope we all are learning from this.
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Cute Little Imp
Posts: 2747
Location: N Texas | Three 4 Luck - 2014-03-17 11:13 AM
Gunner11 - 2014-03-17 11:07 AM What I find a little funny is how so many people feel sorry for the horse, like he's a kid in the middle of a messy divorce. Latte has not one clue about anything going on. Do you really think he's going to be broken hearted if he has a new home and new owner/rider? Horses get sold/traded/leased all the time without a single thought to the horse's "feelings". Just my thoughts
I absolutely think horses care...to an extent. Just not at the same level as people. As long as he's getting fed every day and has a nice place to live, I don't think he's going to be crushed :)
My point in why I find it interesting is that people feel bad about him because he's so famous and people like him and his story. Whenever anyone posts on here about selling their horses, NO ONE jumps in and says "you can't sell them because you're going to turn their world upside down and they're going to be sad". I just find it ironic.
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Tried and True
Posts: 21185
Location: Where I am happiest | Gunner11 - 2014-03-17 11:28 AM Three 4 Luck - 2014-03-17 11:13 AM Gunner11 - 2014-03-17 11:07 AM What I find a little funny is how so many people feel sorry for the horse, like he's a kid in the middle of a messy divorce. Latte has not one clue about anything going on. Do you really think he's going to be broken hearted if he has a new home and new owner/rider? Horses get sold/traded/leased all the time without a single thought to the horse's "feelings". Just my thoughts I absolutely think horses care...to an extent. Just not at the same level as people. As long as he's getting fed every day and has a nice place to live, I don't think he's going to be crushed : ) My point in why I find it interesting is that people feel bad about him because he's so famous and people like him and his story. Whenever anyone posts on here about selling their horses, NO ONE jumps in and says "you can't sell them because you're going to turn their world upside down and they're going to be sad". I just find it ironic.
Yet thats why alot of people do not sell horses. |
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Grammar Expert
| ForumAdmin - 2014-03-17 9:35 AM No slandering will be allowed.
This thread is on thin ice. If it gets ugly again it goes.
I really don't think you fully understand what slander is or is not. No one has been slandered here, no one. And for those that think hateful things have been said - really? Hateful? You need to get out more, I think this thread has been very careful about everything that has been said.
THIS is just why I don't come here much any longer - treated like children. |
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | Gunner11 - 2014-03-17 11:28 AM Three 4 Luck - 2014-03-17 11:13 AM Gunner11 - 2014-03-17 11:07 AM What I find a little funny is how so many people feel sorry for the horse, like he's a kid in the middle of a messy divorce. Latte has not one clue about anything going on. Do you really think he's going to be broken hearted if he has a new home and new owner/rider? Horses get sold/traded/leased all the time without a single thought to the horse's "feelings". Just my thoughts I absolutely think horses care...to an extent. Just not at the same level as people. As long as he's getting fed every day and has a nice place to live, I don't think he's going to be crushed : ) My point in why I find it interesting is that people feel bad about him because he's so famous and people like him and his story. Whenever anyone posts on here about selling their horses, NO ONE jumps in and says "you can't sell them because you're going to turn their world upside down and they're going to be sad". I just find it ironic.
Crap, nobody said he or any other horse shouldn't be sold. By saying the horse is the only victim or whatever, the point is being made that the PEOPLE in question made their own beds and now must lie in them. Any compassion I personally feel is for the one who had no say in the deal.
Aside from that, most of us try to get our horses we care about into the right hands, and then have to live with the guilt if it goes bad, or get to feel warm fuzzies if it goes good. Selling to the highest bidder takes away that control. |
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Veteran
Posts: 220
| Touche. |
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 Expert
Posts: 1384
Location: Kansas | smiley - 2014-03-17 11:33 AM ForumAdmin - 2014-03-17 9:35 AM No slandering will be allowed.
This thread is on thin ice. If it gets ugly again it goes.
I really don't think you fully understand what slander is or is not. No one has been slandered here, no one. And for those that think hateful things have been said - really? Hateful? You need to get out more, I think this thread has been very careful about everything that has been said.
THIS is just why I don't come here much any longer - treated like children.
Slander is spoken and libel is written.
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Warmblood with Wings
Posts: 27846
Location: Florida.. | Keep it classy I think it means.
no personal trash talk. |
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 Maine-iac
Posts: 3334
Location: Got Lobsta? | I can't believe I read all 10 pages without walking away. |
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 The best bad guy on the internet
Posts: 3519
Location: Arizona | I bet the Brazilian's will be snatching him up!! |
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Elite Veteran
Posts: 729
Location: south central usa | for the ones saying greed is the motivation, let your employer promise a set salary and then short it by 10% and see if you say anything.
as far as a contract, no one on here probably knows what the original contract states, but just because a lawyer drafts it doesnt mean that it is worth the paper it was printed on - ive seen more cr@pola documents drafted by lawyers than quality - ask five people and get six opinions on the what a legal doc is intending to accomplish.
sounds like that is the biggest issue, probably different interpretations and being unable to settle
Edited by runnink 2014-03-17 12:36 PM
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 Money Eating Baggage Owner
Posts: 9586
Location: Phoenix | Gunner11 - 2014-03-17 9:07 AM What I find a little funny is how so many people feel sorry for the horse, like he's a kid in the middle of a messy divorce. Latte has not one clue about anything going on. Do you really think he's going to be broken hearted if he has a new home and new owner/rider? Horses get sold/traded/leased all the time without a single thought to the horse's "feelings". Just my thoughts
I completely agree. I also don't think people will "let" Mary win. This is a business deal. Someone out there does not care about her situation. I had no idea this was happening but it is indeed a sad situation. |
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | Bibliafarm - 2014-03-17 12:11 PM Keep it classy I think it means.
no personal trash talk.
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Grammar Expert
| Sangria - 2014-03-17 11:01 AM smiley - 2014-03-17 11:33 AM ForumAdmin - 2014-03-17 9:35 AM No slandering will be allowed.
This thread is on thin ice. If it gets ugly again it goes.
I really don't think you fully understand what slander is or is not. No one has been slandered here, no one. And for those that think hateful things have been said - really? Hateful? You need to get out more, I think this thread has been very careful about everything that has been said.
THIS is just why I don't come here much any longer - treated like children.
That's part of my point. Libel is written and it has to have malicious intent, it has to be made with thought and malice as well as making the wronged party actually lose income, due to a deal that they referenced specifically the libel or a job loss in which the libel played a part.
Slander is not something that happens because someone had an opinion on an OPINION forum. If you don't want gossip, don't own a forum in which gossip gets you advertiser hits and keeps your site relevant.
Just an opinion.
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Hungarian Midget Woman
Location: Midwest | Three 4 Luck - 2014-03-17 12:42 PM
Bibliafarm - 2014-03-17 12:11 PM Keep it classy I think it means.
no personal trash talk.
I can do Klassy
that's as good as it gets for me. |
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Grammar Expert
| runnink - 2014-03-17 11:35 AM for the ones saying greed is the motivation, let your employer promise a set salary and then short it by 10% and see if you say anything. as far as a contract, no one on here probably knows what the original contract states, but just because a lawyer drafts it doesnt mean that it is worth the paper it was printed on - ive seen more cr@pola documents drafted by lawyers than quality - ask five people and get six opinions on the what a legal doc is intending to accomplish. sounds like that is the biggest issue, probably different interpretations and being unable to settle
I used that word, but I did not necessarily mean it toward the co-owner. Frankly, I don't know enough about either party to have a real solid opinion, other than I think there would be less drama and less opinions online if it had never gotten this far in the first place!
And btw, as an aside, the govt., does it to their employees all the time - furlough comes to mind. But I get your point and I agree with it! |
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Grammar Expert
| barrelracr131 - 2014-03-17 11:43 AM Three 4 Luck - 2014-03-17 12:42 PM Bibliafarm - 2014-03-17 12:11 PM Keep it classy I think it means.
no personal trash talk. I can do Klassy that's as good as it gets for me.
One person's "classy" is another person's "OMG, did she just say that?"
For example, a price was put out on here, one person at the very least thinks that's bad form, others are like "what's the big deal?"
You can't please everyone. BHW should quit trying to silence the very people that keep it running - again, just an opinion, and you know what they say about opinions :) |
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Veteran
Posts: 220
| I agree, every bit of this is a business deal. I have seen pro's sell horses that were awesome and people wonder why? The answer they give, it was strictly a business decision. |
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Warmblood with Wings
Posts: 27846
Location: Florida.. | yes I was referancing anything or one.. just saying what I thought was meant regarding personal stuff or a person..
Edited by Bibliafarm 2014-03-17 12:51 PM
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"aint no Barbie"
Posts: 2272
Location: san antonio texas | TxBronc - 2014-03-16 11:48 PM So basically the Walkers could bid a million dollars and would "only" put another 100k in him? This doesn't sound like a wise decision on the judges part. He should have just made a decision on the value. Because no one will out bid them I'm sure, because they are only paying 10 percent of what anyone else would. So either they won't get any bidders or the other party will either run the bid up or have someone else do it. I would assume the walkers would go up to at least one million if not a little more.....
Not true. Acct will b set up and the $ from
auction will go into that acct. No money will be released until Cogburn is paid first. So there will have to be real money sitting in that acct for a certain amount of time until the courts get around to dispersing it. |
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Extreme Veteran
Posts: 591
| LIVE2RUN - 2014-03-17 10:28 AM
I bet the Brazilian's will be snatching him up!!
Geldings are useless to the Brazilians unless one of them wants to have a daughter make an NFR run here. Geldings can't be imported into Brazil. |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | I thought this threat got the Zapper again? |
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | 3 To Go - 2014-03-17 2:10 PM LIVE2RUN - 2014-03-17 10:28 AM I bet the Brazilian's will be snatching him up!! Geldings are useless to the Brazilians unless one of them wants to have a daughter make an NFR run here. Geldings can't be imported into Brazil.
Unless you bought him and cloned him. |
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 Thread Killer
Posts: 7545
| ....and...we're back................again? |
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Extreme Veteran
Posts: 591
| Three 4 Luck - 2014-03-17 12:18 PM
3 To Go - 2014-03-17 2:10 PM LIVE2RUN - 2014-03-17 10:28 AM I bet the Brazilian's will be snatching him up!! Geldings are useless to the Brazilians unless one of them wants to have a daughter make an NFR run here. Geldings can't be imported into Brazil.
This is true, but seems a bit excessive Do the Brazilians allow clones into the country? I have never heard anything one way or the other about it. |
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Regular
Posts: 70
| Herbie - 2014-03-17 8:46 AM
Make no mistake, this is not the first nice horse that has come from Cheri Cogburn's barn. I don't know her personally other than to say "nice run" or smile when riding by at a barrel race, but what I can say is that Cheri played a big part in making Latte what he is. I can remember seeing her trot him through the exhibitions as a colt. Perhaps she's not the name you think of when you think of Latte, but the hard work was done when Mary swung her leg over him for the first time. As a trainer, sometimes it is very hard to set your pride aside, back off and try to win something and you need someone more "fearless" to do this for you to bring a horse from a nice horse to a great horse. This IMO is where Mary comes in. I'm not discounting what she has accomplished on him, but the horse was pretty much finished when she got him. Maybe not seasoned, but finished. As for CL's post about equistat earnings.....that's not a justifiable mark as to the horse's worth, and if so, the Walker's giving $120K for a horse with those meager earnings is insane. Give me a break! And to be honest, I think it was in poor taste to list dollar amounts anyway.
I can assure you that the Cogburns are not attention seeking people who are trying to take away a horse from a deserving person. Bottom line is had the Walker's held up their end of the aggreement, this wouldn't be the situation. They did not. Period. My hope is that someone DESERVING gets the horse. Wouldn't hurt my feelings one bit to see Cheri get him back and for her to spank us even more at our little local barrel races, however she probably just wants to get what she is owed and be done with the deal all together.
Just because Mary suffered personal tragedy (and please understand i'm not taking that lightly....no parent should ever have to endure the pain of losing a child) doesn't maek her the deserving party here. She didn't make the horse....she took him from a very nice horse to a great horse by being able to throw pride aside and just going and trying to win something, but she didn't hold up her end of the agreement. I wish the best for the Cogburns and hope they get what they are owed and pray that Latte finds himself in the hands of someone who will appreciate him for what he is.
I have read all 11 of these pages and can say that this is the most honest (AND VERY MUCH TRUE) reply that has been posted. Kudos for you for speaking the reality of the whole situation!!!! |
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 Expert
Posts: 1857
| I highly doubt anyone will end up with the horse other than the Walkers. Then they will be required to pay the 10% of what he is worth now to the other party. Maybe this wasn't a shady deal that everyone is thinking..... Maybe this is a way to get out of the contract with the second party so they have full ownership and not required to pay out the 10% anymore. They are buying the 10% from the other party and the only way to determine what that amount is is to run him through an auction. Maybe the Walkers decided that they had paid enough already to the second party to full fill the contract and went to court to see if they could get out of it, the judge determined otherwise and that if they wanted out they needed to buy out, the only way to do that would be to determine the horses value as of now.
** as you can tell im no lawyer and have no idea all the terms when it comes to stuff like this but you get the just of what I think........ |
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Shelter Dog Lover
Posts: 10277
| Southtxponygirl - 2014-03-17 2:18 PM I thought this threat got the Zapper again?
Just keeps getting put in time out |
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Shelter Dog Lover
Posts: 10277
| FlyingJT - 2014-03-17 2:47 PM I highly doubt anyone will end up with the horse other than the Walkers. Then they will be required to pay the 10% of what he is worth now to the other party. Maybe this wasn't a shady deal that everyone is thinking..... Maybe this is a way to get out of the contract with the second party so they have full ownership and not required to pay out the 10% anymore. They are buying the 10% from the other party and the only way to determine what that amount is is to run him through an auction. Maybe the Walkers decided that they had paid enough already to the second party to full fill the contract and went to court to see if they could get out of it, the judge determined otherwise and that if they wanted out they needed to buy out, the only way to do that would be to determine the horses value as of now. ** as you can tell im no lawyer and have no idea all the terms when it comes to stuff like this but you get the just of what I think........
That is what I have said a couple of times, may be a strategy to this, some fancy lawyering going on to get out of paying what was agreed to and to get out of the partnership. |
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 Big Gun
Posts: 2216
Location: Texas | someone stated that money is the root of all money. actually its the LOVE of money is the root of all evil. Some may think there isnt a difference but there is. Someone didnt do their part, which is why it was taken to court. A great horse maybe sold mostly because someone didnt keep their promises. A lot of what is wrong in this world is 'someone' didnt keep their promises. I for one just want wrongs made right but the best way Im going to do that is pray that God will work miracles in this situation and it wont have to come down to a bidding war. Let everyone involved forgive and forget and do the right thing. |
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The best bad guy on the internet
Posts: 3519
Location: Arizona | 3 To Go - 2014-03-17 1:10 PM
LIVE2RUN - 2014-03-17 10:28 AM
I bet the Brazilian's will be snatching him up!!
Geldings are useless to the Brazilians unless one of them wants to have a daughter make an NFR run here. Geldings can't be imported into Brazil.
I had no idea!! I can't keep up with it all!! LOL |
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 Vodka for Lunch
Location: Lala Land | I don't know why anyone would clone him with full siblings on the ground (or in utero). |
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Expert
Posts: 1857
| 3rdtimesacharm - 2014-03-17 3:02 PM
someone stated that money is the root of all money. actually its the LOVE of money is the root of all evil. Some may think there isnt a difference but there is. Someone didnt do their part, which is why it was taken to court. A great horse maybe sold mostly because someone didnt keep their promises. A lot of what is wrong in this world is 'someone' didnt keep their promises. I for one just want wrongs made right but the best way Im going to do that is pray that God will work miracles in this situation and it wont have to come down to a bidding war. Let everyone involved forgive and forget and do the right thing.
how do you know someone didn't do their part? You talked to them? |
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Big Gun
Posts: 2216
Location: Texas | well its pretty obvious or they wouldnt be in this situation |
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Expert
Posts: 1857
| 3rdtimesacharm - 2014-03-17 3:06 PM
well its pretty obvious or they wouldnt be in this situation
you have no idea why they went to court. It may be just to get out of the contract, not that someone didn't up hold their part of the deal. It's wrong to assume that one person did another wrong based on a forum that is fueled by gossip. |
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 Looking for Lady Jockey
Posts: 3747
Location: Rodeos or Baseball games | Hope this all ends the right way. |
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Expert
Posts: 1857
| For those of you that are joining this thread that haven't taken the time to read it, here is a few things to ponder when passing your judgment. Mary and Christy are close and I would assume that what Ms Loflin says is fairly close to spot on, one side of the story but more knowledge of the situation than just about anyone else on here.
loflin06 - 2014-03-16 9:25 PM
For the record here let's get a few facts straight:
Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire.
he is the only asset in the Walker/Cogburn llc corporation. Therefore when you are ordered to dissolve a corporation and determine the value of the shares the assets are sold.
the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
Edited by FlyingJT 2014-03-17 3:23 PM
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Big Gun
Posts: 2216
Location: Texas | to Flying JT: now thats pretty ridiculous dont you think? Why would someone spend endless amounts of money on lawyer fees or taking a chance of someone else buying the horse? Seriously? BTW...I DID read the entire post
Edited by 3rdtimesacharm 2014-03-17 3:28 PM
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Veteran
Posts: 229
Location: Montana | I am just guessing here but if the 2 parties cannot agree on a price for Latte and settle the dispute, the auction may be the only way the court could get a fair price for both parties. Most likely Walkers will be the purchasing party, the real question is who is going to be bidding them up. |
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Extreme Veteran
Posts: 349
| FlyingJT - 2014-03-17 1:20 PM
For those of you that are joining this thread that haven't taken the time to read it, here is a few things to ponder when passing your judgment. Mary and Christy are close and I would assume that what Ms Loflin says is fairly close to spot on, one side of the story but more knowledge of the situation than just about anyone else on here.
loflin06 - 2014-03-16 9:25 PM
For the record here let's get a few facts straight:
Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire.
he is the only asset in the Walker/Cogburn llc corporation. Therefore when you are ordered to dissolve a corporation and determine the value of the shares the assets are sold.
the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice.
Tried to read the whole thread but I missed that one! Thanks for that! Good to hear something from someone who is actually close to the situation we are talking about. |
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Expert
Posts: 1857
| runsupport - 2014-03-17 3:23 PM
I am just guessing here but if the 2 parties cannot agree on a price for Latte and settle the dispute, the auction may be the only way the court could get a fair price for both parties. Most likely Walkers will be the purchasing party, the real question is who is going to be bidding them up.
I'm curious to see what price he tops at! |
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Veteran
Posts: 220
| Anyone on here going to actually try to go see it? |
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 Perky Gal
Location: On a paint horse... | ThreeCorners - 2014-03-18 9:26 AM Firemanswife - 2014-03-17 11:13 AM Good point. Anyone that can spend the money to buy him probably has a mansion for a barn. When you spend that kind of money on a horse it isnt to send him to the killers or abuse him. Abuse comes in many forms and lets be realistic here. ALOT of barrel raers can and are quite brutal and unfortunatelly, it seems the higher dollar horses that maybe dont quite perform for the new owner to the level of the past owner/rider are brutalized even more because they have all that money layed out there and the horse isnt re-couping it to their expectations.
Edited by skeeter 777 2014-03-17 3:35 PM
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Shelter Dog Lover
Posts: 10277
| FlyingJT - 2014-03-17 3:20 PM For those of you that are joining this thread that haven't taken the time to read it, here is a few things to ponder when passing your judgment. Mary and Christy are close and I would assume that what Ms Loflin says is fairly close to spot on, one side of the story but more knowledge of the situation than just about anyone else on here. loflin06 - 2014-03-16 9:25 PM For the record here let's get a few facts straight: Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire. he is the only asset in the Walker/Cogburn llc corporation. Therefore when you are ordered to dissolve a corporation and determine the value of the shares the assets are sold. the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice. Christy Loflin is incorrect. Her post is no more fact than any other on here. Yes, she is close to Mary, her hauling partner so I take her version with a grain of salt just as you would those close to Cheri. There are posts on here from those just as close to Cheri as Christy is to Mary and they say it is a simple case of non payment by the Walkers. Also there are post from those close to the situation that say the $$ will go into a trust till Cheri is paid.
Edited by rodeomom3 2014-03-17 3:33 PM
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Veteran
Posts: 220
| Yeah and you see people spend $350,000 on luxury cars and total them. Very true. |
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Veteran
Posts: 247
Location: Red Oak, Texas 75154 | Be sure and wear your name tag Firemans wife so we know who you are. |
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Veteran
Posts: 247
Location: Red Oak, Texas 75154 | Be sure and wear your name tag Firemans wife so we know who you are. |
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Veteran
Posts: 239
| In the court system- the horse will have to be put into a public auction- it can not be a private deal- anyone can bid! I have been though this and it sucks! Prayers to both parties- there is never a winner! |
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BHW's Simon Cowell
Location: The Saudia Arabia of Wind Energy, Western Oklahoma | rodeomom3 - 2014-03-17 3:31 PM
FlyingJT - 2014-03-17 3:20 PM For those of you that are joining this thread that haven't taken the time to read it, here is a few things to ponder when passing your judgment. Mary and Christy are close and I would assume that what Ms Loflin says is fairly close to spot on, one side of the story but more knowledge of the situation than just about anyone else on here. loflin06 - 2014-03-16 9:25 PM For the record here let's get a few facts straight: Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire. he is the only asset in the Walker/Cogburn llc corporation. Therefore when you are ordered to dissolve a corporation and determine the value of the shares the assets are sold. the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice. Christy Loflin is incorrect. Her post is no more fact than any other on here. Yes, she is close to Mary, her hauling partner so I take her version with a grain of salt just as you would those close to Cheri. There are posts on here from those just as close to Cheri as Christy is to Mary and they say it is a simple case of non payment by the Walkers. Also there are post from those close to the situation that say the $$ will go into a trust till Cheri is paid.
Did you notice that nothing was ever mentioned in Ms. Loflin's post about paying the 10% owner anything as far as mount money? Do the hazers pay a 1/4 on what the bulldogger wins or what the bulldoger wins after expenses? What good would owning 10% of the horse do for Ms. Cogburn if she never is going to get 10% from the sale of the horse or her share of the winnings? It would be interesting to hear just how much Ms. Cogburn actually was paid for her 10%.
Putting all the emotions aside, just how would any of you feel if you had a percent ownership in a horse that won a ton and you were never compensated for those winnings. At the time that Ms. Cogburn sold the horse to them he would have fetched a huge amount. The 1,500 figure that Ms. Loflin put out there is bunk. Equistat had mainly futurity and 4-d events listed at that time so his money wouldn't have even shown up. 120k is nothing for a horse like that. Then add in the fact that the other buyer was on Facebook bragging about what a good deal he got on Latte, I think we would all be a bit miffed.
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Veteran
Posts: 220
| Not going just curious if anyone will. |
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Proud to be Deplorable
Posts: 1929
| rodeomom3 - 2014-03-17 3:31 PM
FlyingJT - 2014-03-17 3:20 PM For those of you that are joining this thread that haven't taken the time to read it, here is a few things to ponder when passing your judgment. Mary and Christy are close and I would assume that what Ms Loflin says is fairly close to spot on, one side of the story but more knowledge of the situation than just about anyone else on here. loflin06 - 2014-03-16 9:25 PM For the record here let's get a few facts straight: Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire. he is the only asset in the Walker/Cogburn llc corporation. Therefore when you are ordered to dissolve a corporation and determine the value of the shares the assets are sold. the highest bidder will go home with the horse. If Latte sells for $100,000 Walkers will receive $90,000 as they own 90% and the other party will receive $10,000. I can assure you that the Walkers have every intention and the funds to purchase Latte from this auction. Unfortunately this means they will have bought him twice. Christy Loflin is incorrect. Her post is no more fact than any other on here. Yes, she is close to Mary, her hauling partner so I take her version with a grain of salt just as you would those close to Cheri. There are posts on here from those just as close to Cheri as Christy is to Mary and they say it is a simple case of non payment by the Walkers. Also there are post from those close to the situation that say the $$ will go into a trust till Cheri is paid.
With out reading the court records NO ONE KNOWS the truth here. It's just sounds like he said she said. And to me it sounds like the Judge could not figure it out either. To me it sounds like splitting the baby. |
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 If you knew me you would want to be me
Posts: 13645
Location: Utah | My understanding is that a check was issued and cashed for buyint the remaining 10% prior to the 2012 NFR but now that person wants the 10% of the winnings too. |
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Thread Killer
Posts: 7545
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The only people who know what happened/what's happening are those directly involved. I hope it gets sorted out and that everything will be ok in the end. I don't think all the speculation and bickering is going to do anything...
Edited by Just Plain Lucky 2014-03-17 3:55 PM
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Big Gun
Posts: 2216
Location: Texas | Ksjackofalltrades....can you ride my horse for me?  |
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BHW's Simon Cowell
Location: The Saudia Arabia of Wind Energy, Western Oklahoma | 3rdtimesacharm - 2014-03-17 3:55 PM
Ksjackofalltrades....can you ride my horse for me?
Umm, no. I don't ride. |
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Big Gun
Posts: 2216
Location: Texas | ksjackofalltrades - 2014-03-17 3:58 PM 3rdtimesacharm - 2014-03-17 3:55 PM Ksjackofalltrades....can you ride my horse for me? Umm, no. I don't ride.
Oh really? |
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Shelter Dog Lover
Posts: 10277
| ana - 2014-03-17 3:52 PM My understanding is that a check was issued and cashed for buyint the remaining 10% prior to the 2012 NFR but now that person wants the 10% of the winnings too. If that were true why would the horse still be listed as owned by both parties?? Wouldn't you change the papers to sole ownership if you owned him outright?
Edited by rodeomom3 2014-03-17 4:05 PM
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IMA No Hair Style Gal
Posts: 2594
| Interesting read...I will be curious about how it turns out.
Hopefully justice will be served to all parties deserving, and that is about all I have to say! |
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Boot Detective
Posts: 1900
| I agree with KSJackofalltrades. First of all the equistat earnings being referred to don't even come close to what Mary won on that horse. I personally watched her run and win rodeo after rodeo on him at CPRA/UPRA rodeos in TX and I was there and entered and saw the horse. So the equistat #'s are far misleading and deceiving. They know what a horse is worth and would never have paid $120,000 for one that wasn't worth it in every way.
There are several morals to this story. Business is business and a contract is enforceable so don't enter into an agreement and then not abide by it. I'm not saying that is what happened here. I'm saying be careful what you ever agree to. This is a perfect example of why a written bill of sale should be signed by both parties anytime a horse is sold, especially an expensive horse. It needs to be thorough and well written to cover any "expressed or implied warranties or future obligations", etc...
If the remarks another poster made are correct and the Walkers will receive 90% of the proceeds from the sale of Latte, then this is a win-win situation for them. They will pay only 10% of his worth to own him free and clear and be rid of any "partnership". I know at least 3 potential buyers for that horse that are capable of paying up to $1 million or more for him and I doubt he goes anywhere near 100,000. But if he sells much higher to a new buyer, look at the $$ they will be receiving. Either way, they can't lose!
I hate what is happening for Mary's sake. She has done a fabulous job riding and training him and she is a sweetheart to talk to. I'm convinced no matter who ends up with him, he will be very well taken care of and treated like a prince. |
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Veteran
Posts: 220
| That is one way to look at the bright side. They will be getting one hefty check if they do not get him in the sale. |
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BHW's Simon Cowell
Location: The Saudia Arabia of Wind Energy, Western Oklahoma | quickdraw - 2014-03-17 4:16 PM I agree with KSJackofalltrades. First of all the equistat earnings being referred to don't even come close to what Mary won on that horse. I personally watched her run and win rodeo after rodeo on him at CPRA/UPRA rodeos in TX and I was there and entered and saw the horse. So the equistat #'s are far misleading and deceiving. They know what a horse is worth and would never have paid $120,000 for one that wasn't worth it in every way. There are several morals to this story. Business is business and a contract is enforceable so don't enter into an agreement and then not abide by it. I'm not saying that is what happened here. I'm saying be careful what you ever agree to. This is a perfect example of why a written bill of sale should be signed by both parties anytime a horse is sold, especially an expensive horse. It needs to be thorough and well written to cover any "expressed or implied warranties or future obligations", etc... If the remarks another poster made are correct and the Walkers will receive 90% of the proceeds from the sale of Latte, then this is a win-win situation for them. They will pay only 10% of his worth to own him free and clear and be rid of any "partnership". I know at least 3 potential buyers for that horse that are capable of paying up to $1 million or more for him and I doubt he goes anywhere near 100,000. But if he sells much higher to a new buyer, look at the $$ they will be receiving. Either way, they can't lose! I hate what is happening for Mary's sake. She has done a fabulous job riding and training him and she is a sweetheart to talk to. I'm convinced no matter who ends up with him, he will be very well taken care of and treated like a prince.
I agree with some of what you say, but I think will bring more than 100k. Especially with the cloning issue. What will get the Walkers is taxes. If he were to bring say 500k then they would get 450k. Wouldn't they have to pay taxes on that amount? |
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Location: California | Just out of curiosity, how old is that horse and how long has he been running? |
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Veteran
Posts: 220
| yep kiss this one goooooood bye |
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Go Get Em!
Posts: 13503
Location: OH. IO | loflin06 - 2014-03-16 11:25 PM For the record here let's get a few facts straight: Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire. When Latte was purchased for Mary to help ease the pain of the unimaginable loss of her son he simply had less the $1,500 in equistat earnings to he resume. Mary and Latte have a bond and an amazing partnership! As anyone on here knows, the bond between a horse and rider runs deep. Loosing Latte would be devastating to say the least. Let's all be respectful of her situation and stick to the facts.
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 Veteran
Posts: 292
Location: Northeast Nebraska | Runninformoney - 2014-03-16 11:49 PM Money the root of evil!! This makes me so sad the biggest loss is probably a friendship worth more than money. I hope Mary keeps Latte and Cogburn gets her money.
Love of money is the root of all evil. |
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Hungarian Midget Woman
Location: Midwest | Lol white boy
Also, sorry for that inconvenience Friday! |
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Regular
Posts: 72
Location: Florida |  |
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 Saint Stacey
| I seriously doubt if someone with funds like what Jud Little or the Schiller's have that Walkers will be able to retain ownership of Latte, JMHO. |
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 Expert
Posts: 2097
Location: Deep South | SKM - 2014-03-17 6:06 PM
I seriously doubt if someone with funds like what Jud Little or the Schiller's have that Walkers will be able to retain ownership of Latte, JMHO.
Serious question, do the Schiller's or Jud Little ever invest in something other than mares and stallions? Would they bother putting up this kind of cash for a gelding? |
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The Advice Guru
Posts: 6419
| I don't know why another barrel racer would want to buy Latte, as Mary's fan base is huge one can only imagine the repercussions of owning and competing on Latte, instead of giving/letting Mary Walker run him. |
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Chasin my Dream
Posts: 13651
Location: Alberta | .....and so we wait for March 27....which will likely light up BHW, Twitter & Facebook more then the NFR.... |
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Extreme Veteran
Posts: 591
| Emotion aside, I don't get why Mary should just get him? He is in a PUBLIC auction. When they sell a house or a car at public auction the person that lived in the house or owned the car doesn't just get to buy it for cheap because of their memories they have with the house or car. If I have only paid off 90% of my car the bank still owns 10%. And they don't factor in all the maintenance I have put into it - oil changes, tires, etc. The bank doesn't care that I've spent $X.XX maintaining the car. But because it's a horse suddenly emotions become a more relevant factor, or we believe they should be.
Yes your heart wants to side with Mary because we have all heard her story and it is amazing she was able to ride again and win big. But Cheri also did a lot of the work to get Latte to where he is today. Mary didn't train him, but she did get him to the next level of his career. This is possibly why a judge had to get involved to look objectively at the facts of the case and reach a solution to solve it. It really sounds like a bad situation for both sides, but I guess it is a good reason why you should just buy a horse outright or if you don't, pay them off ASAP. Obviously both sides have some fault somewhere otherwise I don't think the situation would be this far down the road. |
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More bootie than waist!
Posts: 18425
Location: Riding Crackhead. | CYA Ranch - 2014-03-17 9:13 AM We've only heard from one of the parties in this matter and I'll be the first to say I don't know squat about the situation except for what I've read online......BUT. In my mind, if there's a contract or agreement and all parties involved respected that said contract or agreement, there wouldn't be a court ordered auction going on next week.
I'm bumping my thoughts up just because I can. |
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Whack and Roll
Posts: 6342
Location: NE Texas | 3 To Go - 2014-03-17 6:31 PM Emotion aside, I don't get why Mary should just get him? He is in a PUBLIC auction. When they sell a house or a car at public auction the person that lived in the house or owned the car doesn't just get to buy it for cheap because of their memories they have with the house or car. If I have only paid off 90% of my car the bank still owns 10%. And they don't factor in all the maintenance I have put into it - oil changes, tires, etc. The bank doesn't care that I've spent $X.XX maintaining the car. But because it's a horse suddenly emotions become a more relevant factor, or we believe they should be. Yes your heart wants to side with Mary because we have all heard her story and it is amazing she was able to ride again and win big. But Cheri also did a lot of the work to get Latte to where he is today. Mary didn't train him, but she did get him to the next level of his career. This is possibly why a judge had to get involved to look objectively at the facts of the case and reach a solution to solve it. It really sounds like a bad situation for both sides, but I guess it is a good reason why you should just buy a horse outright or if you don't, pay them off ASAP. Obviously both sides have some fault somewhere otherwise I don't think the situation would be this far down the road.
Edited by Herbie 2014-03-17 6:53 PM
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 Horsezips Number One Fan
Posts: 3519
Location: on a horse | loflin06 - 2014-03-16 10:25 PM
For the record here let's get a few facts straight:
Latte was purchased by the Walkers from the Cogburns for $120,000 and they own 90% of Lattle. Cogburns retained 10% interest in him. He was paid IN FULL at the time of the sale. He is going up for auction to determine his value not because there is money owed by the Walkers. At this time there are two separate cases pending to determine if Walkers owe Cogburns or Cogburns owe Walkers. This is a very complicated situation and sadly as a result of the high profile of this amazing team rumors and lies have been spread like wild fire.
When Latte was purchased for Mary to help ease the pain of the unimaginable loss of her son he simply had less the $1,500 in equistat earnings to he resume. Mary and Latte have a bond and an amazing partnership! As anyone on here knows, the bond between a horse and rider runs deep. Loosing Latte would be devastating to say the least. Let's all be respectful of her situation and stick to the facts.
And the reason he is have to be "sold" is legally when you have an LLC and one partner wants out, the other partner can't buy them out, it has to go up for public auction. At least in TX |
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 Dancing in my Mind
Posts: 3062
Location: Eastern OH but my heart is in WV | Just Plain Lucky - 2014-03-17 3:52 PM
The only people who know what happened/what's happening are those directly involved. I hope it gets sorted out and that everything will be ok in the end. I don't think all the speculation and bickering is going to do anything...
Well said!!! Myself, personally, Mary and Latte are my favorite team to watch. I love that horse and Mary appears to be a class act. I just hope everything works out for the best, for everyone involved, when all the smoke clears. |
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Saint Stacey
| BamaCanChaser - 2014-03-17 5:13 PM
SKM - 2014-03-17 6:06 PM
I seriously doubt if someone with funds like what Jud Little or the Schiller's have that Walkers will be able to retain ownership of Latte, JMHO.
Serious question, do the Schiller's or Jud Little ever invest in something other than mares and stallions? Would they bother putting up this kind of cash for a gelding?
I have no idea. It was simply an example of names in the barrel horse industry with large amounts of funds at their disposal should they decide they want the horse. |
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The Original Cyber Bartender
Location: Washington | 3 To Go - 2014-03-17 4:31 PM Emotion aside, I don't get why Mary should just get him? He is in a PUBLIC auction. When they sell a house or a car at public auction the person that lived in the house or owned the car doesn't just get to buy it for cheap because of their memories they have with the house or car. If I have only paid off 90% of my car the bank still owns 10%. And they don't factor in all the maintenance I have put into it - oil changes, tires, etc. The bank doesn't care that I've spent $X.XX maintaining the car. But because it's a horse suddenly emotions become a more relevant factor, or we believe they should be. Yes your heart wants to side with Mary because we have all heard her story and it is amazing she was able to ride again and win big. But Cheri also did a lot of the work to get Latte to where he is today. Mary didn't train him, but she did get him to the next level of his career. This is possibly why a judge had to get involved to look objectively at the facts of the case and reach a solution to solve it. It really sounds like a bad situation for both sides, but I guess it is a good reason why you should just buy a horse outright or if you don't, pay them off ASAP. Obviously both sides have some fault somewhere otherwise I don't think the situation would be this far down the road.
This makes my head spin. In a very negative way. The court may see it this simplistic, hope the masses here do not.
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Shelter Dog Lover
Posts: 10277
| 3 To Go - 2014-03-17 6:31 PM Emotion aside, I don't get why Mary should just get him? He is in a PUBLIC auction. When they sell a house or a car at public auction the person that lived in the house or owned the car doesn't just get to buy it for cheap because of their memories they have with the house or car. If I have only paid off 90% of my car the bank still owns 10%. And they don't factor in all the maintenance I have put into it - oil changes, tires, etc. The bank doesn't care that I've spent $X.XX maintaining the car. But because it's a horse suddenly emotions become a more relevant factor, or we believe they should be. Yes your heart wants to side with Mary because we have all heard her story and it is amazing she was able to ride again and win big. But Cheri also did a lot of the work to get Latte to where he is today. Mary didn't train him, but she did get him to the next level of his career. This is possibly why a judge had to get involved to look objectively at the facts of the case and reach a solution to solve it. It really sounds like a bad situation for both sides, but I guess it is a good reason why you should just buy a horse outright or if you don't, pay them off ASAP. Obviously both sides have some fault somewhere otherwise I don't think the situation would be this far down the road.
I agree. I wonder if the auction is a result of a previous judgment that could not be collected so they ended up back in court and judged ordered the auction. Most litigation is an extended drawn out affair, we may just be in on the last chapter. Mary and Latte were and are an amazing team. It is a sad twist to an inspirational story. If it comes to pass that they lose Latte because of their own actions you just have to shake your head and wonder about the decisions people make. If they lose Latte just because it is a poorly writtten contract and a convuluted mess then that is just sad. |
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Tried and True
Posts: 21185
Location: Where I am happiest | Latte had no rodeo earnings when he came into Walkers life. That was "The next level" of his career and why he was sent to Mary in the first place. So she could ride and season him to the rodeo world so yes, his equistat earnings would be correct when Walkers baught him.
I also dont know where the $120,000 price tag came from. My husband heard Mary say $30,000 was the purchase price when they bought him.
Latte was NOT the horse then that he is now. |
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| Thr fact that so many people assume the best about the Walkers because they're World Champions and assume the worst of the Cogburns because they don't know who Cheri is is proof how terribly distorted this world is. I live in the general area of both parties though I didn't grow up here. I am not on a personal basis with either one but one but enough people around here have had business dealings with both to accertain the gist of the situation. And its sad all the way around and a sad dose of reality for people blinded by what they read in print and online but never truely know anything about. |
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Expert
Posts: 2097
Location: Deep South | Gettin It - 2014-03-17 7:05 PM
Thr fact that so many people assume the best about the Walkers because they're World Champions and assume the worst of the Cogburns because they don't know who Cheri is is proof how terribly distorted this world is. I live in the general area of both parties though I didn't grow up here. I am not on a personal basis with either one but one but enough people around here have had business dealings with both to accertain the gist of the situation. And its sad all the way around and a sad dose of reality for people blinded by what they read in print and online but never truely know anything about.
I haven't read anything bashing or wishing ill upon the Cogburns??
I do think it's people's natural tendency to sympathize with Mary though, just because we have all heard her tragedy. I think people just don't want to see her lose something else that means so much to her. Not excusing anything the Walker's may or may not have done, just saying.
I personally, would like to see Mary end up with Latte, but not at the expense of her partner IF that is the case here. I want to see it done in the most fair and justifiable way our court system can see fit for both parties. |
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Porta Potty Pants
Posts: 2600
| No one wins in this situation. Its too bad that they couldn't have used a mediator or arbitration to resolve the matter. |
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 Queen Bee Cat Owner
Posts: 3629
Location: Way up North | I really don't have a dog in this fight but I have to say I think it is pretty crappy all of the people crucifying Cogbrun without knowing anything more than hearsay.
Would we be so up in arms if it was a different, non-famous rider? I have a feeling thoughts would be a lot different.
I hate that this is happening to Mary and Latte. They will forever be one of the greatest stories of tragedy and triumph and one of my all time favorite teams. But at the end of the day I am a firm believer in sticking to your word and following the rules (contract) and evidently the courts do not feel that was done. I want whatever is just to happen, whomever's side that leans towards.
I hope for Latte's sake he ends up in a loving and caring home; even better if that is back with Mary. |
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BHW Tour Guide & Concierge
Location: Cyberspace | Please keep this on topic.
Mary Walker made a statement on her Facebook page |
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 Regular
Posts: 96
Location: Commuting between Central Texas and Houston | There are a lot of really good horses out there and one has to click with Latte to make him as successful as he was with Mary. They share an undeniable special bond. Even if someone had the nerve to bid for him and take him away from Mary, there is no guarantee that he will be as good a horse with that person. And that would put a lot of money at risk. I am sure he won't be cheap.
I do pray that Mary will find some way to keep him. |
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 Husband Spoiler
Posts: 4151
Location: North Dakota | From Mary Walker herself....
To all my FB friends and family, my heart is saddened for two reasons. I would like to first say that Latte will not be at Rodeo Houston for the Semi-finals. Latte sustained an injury at Ft. Worth on my second run when he had a horrible slip. Dr. Honnas and I have worked very hard getting him well so I could get through the winter buildings. We sustained a fall Thursday night at Mercedes, Tx which brought back flashes of my fall 2 yrs.ago. Latte injured himself again. The prognosis will be at least 12 wks of rest, with therapy everyday. Luckily, with having great friends ,I will be riding Spider,who belongs to Teresa Turberville.
I am also saddened by being forced by Cheri Cogburn, who retained 10% and we bought 90%,to sell him under court order. Her reason for retaining 10% ownership was so he would never be sold and remain with me forever. Byron bought him for me as a Mothers day present after the loss of Reagon in April of 2011. We formed an LLC to protect both parties interest. She has chose to sue for partition of sale and since he is the only asset of the LLC I am forced to auction him off. I have tried to keep quiet because I felt I shouldn't worry everyone with what's going on in my personal life, we thought that we would be able to work this out with Cheri, however her last settlement offer for us to pay her 250,000 for her 10%, left us no choice. This is my statement, with all this being said, no one will ever take away what Latte and I have. They will never take my love for him. They can never take my Gold Buckle. I put my heart and soul into making him a Champion and he returned the favor to me. My heart is very heavy at this time. The next week will be a very upsetting time in my life, not knowing what will happen. Please keep us in your thought and prayers. |
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Vodka for Lunch
Location: Lala Land | I just feel like until after the actual auction we are  here.
I hope the best for both parties involved, and hope Latte goes to a deserving home wherever that may be. |
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Always Off Topic
Posts: 6382
Location: ND | i wonder how this 'injury' will affect his sale value...... |
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Thread Killer
Posts: 7545
| Aaaaannnnndd we're back....again.
There are still two sides to every story. How about we just sit back and relax until we all know what has really happened. |
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Pig-Bear Dog Lover
| I'm pretty sure she'll end up with him if she wants him, latte is going to get bid up so high and the walkers already own 90% it would be easiest for them to buy him back. If not, I'm sure Mary can find something else to be successful on with her 90% from the sale. Especially since he's worth a whole lot more now than when she bought him. Either way yes it's sad she's losing her partner, but she wont come out bad in a business perspective, neither of them will. We all lose horses at some point or another. I don't "feel bad" for the horse either he will be taken care of anywhere he goes. |
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 I'm not opinionated
Posts: 4597
Location: Online | I'm just confused. The whole situation makes no sense to me. If I were to buy a horse I would want all 100% ownership. Partnerships more often than not will desolve because of bitterness, jealousy, dishonoring the contract, or greed. Especially if the value of the horse increases significantly. I'm not saying these reasons have anything to do with this situation, but it sure seems that way. As an interested uninvolved third party, I just want to say.......  |
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Expert
Posts: 1384
Location: Kansas | I wonder if there will be a full disclosure & the vet records to view prior for qualified buyers or if it's possible for someone to have their vet of choice to examine him ahead of time
Edited by Sangria 2014-03-18 11:10 AM
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Husband Spoiler
Posts: 4151
Location: North Dakota | I can understand Cheri wanting out of the partnership and wanting to make some money off the deal. I mean if I had an opportunity to make some money I would. She wants her 10% of what he is NOW worth not what he was worth when the Walker's first purchased him. The only way to get a true value on him is to put him up for auction. But we need to remember that the Walker's still own 90% of him so if he were to sell for $500k they could buy him for $50k. |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | Sangria - 2014-03-18 11:09 AM I wonder if there will be a full disclosure & the vet records to view prior for qualified buyers or if it's possible for someone to have their vet of choice to examine him ahead of time
I wonder this too now that we all know that he hurt himself again.
Edited by Southtxponygirl 2014-03-18 11:16 AM
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Location: California | How old is this horse and how long has he been running? Given how much he has been used, you think there aren't any holes? I hope that he is auctioned at a reasonable and fair price so that Mary can retain ownership. |
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Shelter Dog Lover
Posts: 10277
| Just Bring It - 2014-03-18 11:12 AM I can understand Cheri wanting out of the partnership and wanting to make some money off the deal. I mean if I had an opportunity to make some money I would. She wants her 10% of what he is NOW worth not what he was worth when the Walker's first purchased him. The only way to get a true value on him is to put him up for auction. But we need to remember that the Walker's still own 90% of him so if he were to sell for $500k they could buy him for $50k.
This court action was not brought about because Cheri wanted out of the partnership. It was brought about because one of the parties was not honoring the contract. The suit was filed as a breach of contract. |
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Itchy Boobs
Posts: 360
| I would like to hear Cheri's side of the story. |
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| Just Bring It - 2014-03-18 11:40 AM From Mary Walker herself....
To all my FB friends and family, my heart is saddened for two reasons. I would like to first say that Latte will not be at Rodeo Houston for the Semi-finals. Latte sustained an injury at Ft. Worth on my second run when he had a horrible slip. Dr. Honnas and I have worked very hard getting him well so I could get through the winter buildings. We sustained a fall Thursday night at Mercedes, Tx which brought back flashes of my fall 2 yrs.ago. Latte injured himself again. The prognosis will be at least 12 wks of rest, with therapy everyday. Luckily, with having great friends ,I will be riding Spider,who belongs to Teresa Turberville.
I am also saddened by being forced by Cheri Cogburn, who retained 10% and we bought 90%,to sell him under court order. Her reason for retaining 10% ownership was so he would never be sold and remain with me forever. Byron bought him for me as a Mothers day present after the loss of Reagon in April of 2011. We formed an LLC to protect both parties interest. She has chose to sue for partition of sale and since he is the only asset of the LLC I am forced to auction him off. I have tried to keep quiet because I felt I shouldn't worry everyone with what's going on in my personal life, we thought that we would be able to work this out with Cheri, however her last settlement offer for us to pay her 250,000 for her 10%, left us no choice. This is my statement, with all this being said, no one will ever take away what Latte and I have. They will never take my love for him. They can never take my Gold Buckle. I put my heart and soul into making him a Champion and he returned the favor to me. My heart is very heavy at this time. The next week will be a very upsetting time in my life, not knowing what will happen. Please keep us in your thought and prayers. The part that she says, Cheri kept 10% so Latte could be with me forever; makes absolutely no sense to me. If making sure ownership was always with one or the other (Cheri or Mary) a first right to refusal clause in a signed contract would of been suffice. Retaining part ownership, would seem to me, to be a way to be part-owner thus make some profit. Also, it is the court mandating the auction not Cheri.
Edited by runs4fun 2014-03-18 11:21 AM
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 Mature beyond Years
Posts: 10780
Location: North of the 49th Parallel | rodeochick123 - 2014-03-18 9:18 AM I would like to hear Cheri's side of the story.
I would too but if Cheri's smart and her lawyers are good she'll stay silent for now, at least until the sale. |
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 Elite Veteran
Posts: 1053
Location: Arizona | Just Bring It - 2014-03-18 8:40 AM
From Mary Walker herself....
To all my FB friends and family, my heart is saddened for two reasons. I would like to first say that Latte will not be at Rodeo Houston for the Semi-finals. Latte sustained an injury at Ft. Worth on my second run when he had a horrible slip. Dr. Honnas and I have worked very hard getting him well so I could get through the winter buildings. We sustained a fall Thursday night at Mercedes, Tx which brought back flashes of my fall 2 yrs.ago. Latte injured himself again. The prognosis will be at least 12 wks of rest, with therapy everyday. Luckily, with having great friends ,I will be riding Spider,who belongs to Teresa Turberville.
I am also saddened by being forced by Cheri Cogburn, who retained 10% and we bought 90%,to sell him under court order. Her reason for retaining 10% ownership was so he would never be sold and remain with me forever. Byron bought him for me as a Mothers day present after the loss of Reagon in April of 2011. We formed an LLC to protect both parties interest. She has chose to sue for partition of sale and since he is the only asset of the LLC I am forced to auction him off. I have tried to keep quiet because I felt I shouldn't worry everyone with what's going on in my personal life, we thought that we would be able to work this out with Cheri, however her last settlement offer for us to pay her 250,000 for her 10%, left us no choice. This is my statement, with all this being said, no one will ever take away what Latte and I have. They will never take my love for him. They can never take my Gold Buckle. I put my heart and soul into making him a Champion and he returned the favor to me. My heart is very heavy at this time. The next week will be a very upsetting time in my life, not knowing what will happen. Please keep us in your thought and prayers.
So, if I get this right, Cogburn's request for Walkers to buy her 10% out for $250,000 values the horse at $2.5 million?!?!?!? That's absurd if it's true. |
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 That's White "Man" to You
Posts: 5515
| Just Bring It - 2014-03-18 11:12 AM I can understand Cheri wanting out of the partnership and wanting to make some money off the deal. I mean if I had an opportunity to make some money I would. She wants her 10% of what he is NOW worth not what he was worth when the Walker's first purchased him. The only way to get a true value on him is to put him up for auction. But we need to remember that the Walker's still own 90% of him so if he were to sell for $500k they could buy him for $50k. Generally with this type of sale-the buyer- even it were the walkers, would have to pay the court the full purchase price. The court would then in turn pay that money to the former owners according to the judges terms. Sometimes it takes 30 days, sometimes it takes years. So the walkers would have to be able to cash flow the purchase price of latte for a period. That is usually the deal breaker for most owner-purchases.
I would be willing to bet the walkers should have taken the $250k settlement. The horse has earning potential far beyond this price, at least with Mary ridding him.
Edited by Whiteboy 2014-03-18 11:27 AM
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Husband Spoiler
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Location: North Dakota | azleigh - 2014-03-18 11:23 AM Just Bring It - 2014-03-18 8:40 AM From Mary Walker herself....
To all my FB friends and family, my heart is saddened for two reasons. I would like to first say that Latte will not be at Rodeo Houston for the Semi-finals. Latte sustained an injury at Ft. Worth on my second run when he had a horrible slip. Dr. Honnas and I have worked very hard getting him well so I could get through the winter buildings. We sustained a fall Thursday night at Mercedes, Tx which brought back flashes of my fall 2 yrs.ago. Latte injured himself again. The prognosis will be at least 12 wks of rest, with therapy everyday. Luckily, with having great friends ,I will be riding Spider,who belongs to Teresa Turberville.
I am also saddened by being forced by Cheri Cogburn, who retained 10% and we bought 90%,to sell him under court order. Her reason for retaining 10% ownership was so he would never be sold and remain with me forever. Byron bought him for me as a Mothers day present after the loss of Reagon in April of 2011. We formed an LLC to protect both parties interest. She has chose to sue for partition of sale and since he is the only asset of the LLC I am forced to auction him off. I have tried to keep quiet because I felt I shouldn't worry everyone with what's going on in my personal life, we thought that we would be able to work this out with Cheri, however her last settlement offer for us to pay her 250,000 for her 10%, left us no choice. This is my statement, with all this being said, no one will ever take away what Latte and I have. They will never take my love for him. They can never take my Gold Buckle. I put my heart and soul into making him a Champion and he returned the favor to me. My heart is very heavy at this time. The next week will be a very upsetting time in my life, not knowing what will happen. Please keep us in your thought and prayers. So, if I get this right, Cogburn's request for Walkers to buy her 10% out for $250,000 values the horse at $2.5 million?!?!?!? That's absurd if it's true.
Well and that's why I feel an auction is necessary. Because of course Cheri or Mary could put any price they wanted on the horse but the only way to know for sure the worth is to auction him off. Cheri feels he is worth $2.5mil and wants her 10% of that and I'm sure Walker's would rather he be worth $300k and ower her $30k. |
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That's White "Man" to You
Posts: 5515
| Southtxponygirl - 2014-03-18 11:13 AM Sangria - 2014-03-18 11:09 AM I wonder if there will be a full disclosure & the vet records to view prior for qualified buyers or if it's possible for someone to have their vet of choice to examine him ahead of time
I wonder this too now that we all know that he hurt himself again.
Do you think they are "playing up" the injury? |
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Itchy Boobs
Posts: 360
| NonaY - 2014-03-19 12:16 AM
How old is this horse and how long has he been running? Given how much he has been used, you think there aren't any holes? I hope that he is auctioned at a reasonable and fair price so that Mary can retain ownership.
If im not mistaken latte is 10 this year. |
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Shelter Dog Lover
Posts: 10277
| azleigh - 2014-03-18 11:23 AM
Just Bring It - 2014-03-18 8:40 AM
From Mary Walker herself....
To all my FB friends and family, my heart is saddened for two reasons. I would like to first say that Latte will not be at Rodeo Houston for the Semi-finals. Latte sustained an injury at Ft. Worth on my second run when he had a horrible slip. Dr. Honnas and I have worked very hard getting him well so I could get through the winter buildings. We sustained a fall Thursday night at Mercedes, Tx which brought back flashes of my fall 2 yrs.ago. Latte injured himself again. The prognosis will be at least 12 wks of rest, with therapy everyday. Luckily, with having great friends ,I will be riding Spider,who belongs to Teresa Turberville.
I am also saddened by being forced by Cheri Cogburn, who retained 10% and we bought 90%,to sell him under court order. Her reason for retaining 10% ownership was so he would never be sold and remain with me forever. Byron bought him for me as a Mothers day present after the loss of Reagon in April of 2011. We formed an LLC to protect both parties interest. She has chose to sue for partition of sale and since he is the only asset of the LLC I am forced to auction him off. I have tried to keep quiet because I felt I shouldn't worry everyone with what's going on in my personal life, we thought that we would be able to work this out with Cheri, however her last settlement offer for us to pay her 250,000 for her 10%, left us no choice. This is my statement, with all this being said, no one will ever take away what Latte and I have. They will never take my love for him. They can never take my Gold Buckle. I put my heart and soul into making him a Champion and he returned the favor to me. My heart is very heavy at this time. The next week will be a very upsetting time in my life, not knowing what will happen. Please keep us in your thought and prayers.
So, if I get this right, Cogburn's request for Walkers to buy her 10% out for $250,000 values the horse at $2.5 million?!?!?!? That's absurd if it's true.
It is not true. Thar figure may have been pulled out of thin air or it may be what the judge has determined what is owed Cheri per the contract. |
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Expert
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Location: Ky | runs4fun - 2014-03-18 11:20 AM Just Bring It - 2014-03-18 11:40 AM From Mary Walker herself....
To all my FB friends and family, my heart is saddened for two reasons. I would like to first say that Latte will not be at Rodeo Houston for the Semi-finals. Latte sustained an injury at Ft. Worth on my second run when he had a horrible slip. Dr. Honnas and I have worked very hard getting him well so I could get through the winter buildings. We sustained a fall Thursday night at Mercedes, Tx which brought back flashes of my fall 2 yrs.ago. Latte injured himself again. The prognosis will be at least 12 wks of rest, with therapy everyday. Luckily, with having great friends ,I will be riding Spider,who belongs to Teresa Turberville.
I am also saddened by being forced by Cheri Cogburn, who retained 10% and we bought 90%,to sell him under court order. Her reason for retaining 10% ownership was so he would never be sold and remain with me forever. Byron bought him for me as a Mothers day present after the loss of Reagon in April of 2011. We formed an LLC to protect both parties interest. She has chose to sue for partition of sale and since he is the only asset of the LLC I am forced to auction him off. I have tried to keep quiet because I felt I shouldn't worry everyone with what's going on in my personal life, we thought that we would be able to work this out with Cheri, however her last settlement offer for us to pay her 250,000 for her 10%, left us no choice. This is my statement, with all this being said, no one will ever take away what Latte and I have. They will never take my love for him. They can never take my Gold Buckle. I put my heart and soul into making him a Champion and he returned the favor to me. My heart is very heavy at this time. The next week will be a very upsetting time in my life, not knowing what will happen. Please keep us in your thought and prayers. The part that she says, Cheri kept 10% so Latte could be with me forever; makes absolutely no sense to me. If making sure ownership was always with one or the other (Cheri or Mary) a first right to refusal clause in a signed contract would of been suffice. Retaining part ownership, would seem to me, to be a way to be part-owner thus make some profit. Also, it is the court mandating the auction not Cheri.
Yep, all contracts are covenants of good faith. Whether bad faith was involved is now up to the courts. It would seem now from the outside that, if good faith did exist at the time of the contract being drawn up that there was not a meeting of the minds on what they agreed to.
If there is ambiguity in the contract language then it will ruled favorably towards the accepting party. So, who drew up the contract and proposed the terms?
That's what this is about now. We are all horse people and make irrational decisions because the feelings about our horses. I'm sure that's true with both of these families too.
The court doesn't give a crap about all that. If the parties are smart they will settle this and the auction will never take place. If they have dug in their and are willing to let the legal system decide it then that's what will happen. I bet both will be unhappy with that outcome. |
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Hugs to You
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Location: In The Land of Cotton | bccanchaser16 - 2014-03-18 12:23 PM rodeochick123 - 2014-03-18 9:18 AM I would like to hear Cheri's side of the story. I would too but if Cheri's smart and her lawyers are good she'll stay silent for now, at least until the sale.
I actually hope that she stays silent forever. To me that speaks volumes. |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | Whiteboy - 2014-03-18 11:28 AM Southtxponygirl - 2014-03-18 11:13 AM Sangria - 2014-03-18 11:09 AM I wonder if there will be a full disclosure & the vet records to view prior for qualified buyers or if it's possible for someone to have their vet of choice to examine him ahead of time
I wonder this too now that we all know that he hurt himself again.
Gosh I sure hope not. |
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I Really Love Jeans
Posts: 3173
Location: North Dakota | I don't think he will auction for 2.5 million for the 250k 10% to be met. If they had the 250k to buy her 10% out I am sure they would. I bet someone will help the walkers purchase him though. |
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Dancing in my Mind
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Location: Eastern OH but my heart is in WV | I have read a lot of comments about "even if Latte does sell, the Walkers well be leaving with a lot of money." Although, that could be a true statement, I think sometimes no amount of money in the world can replace that special horse in our lives. We can all speculate how much Mary loves Latte but she is the only one that really knows. I don't know Mary, I don't know how much she looks at her horses as a business or on a more personal relationship. I just know that money does not always make you feel better or OK with the outcome of a situation. For her this might go far beyond the mighty dollar and I find that whole senerio to be VERY sad.
I do not know either side of this story and if deserved, I hope the other party is treated fairly also. I just hope in the end, It is a happy outome for everyone. |
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Expert
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Location: Kansas | Whiteboy - 2014-03-18 11:28 AM Southtxponygirl - 2014-03-18 11:13 AM Sangria - 2014-03-18 11:09 AM I wonder if there will be a full disclosure & the vet records to view prior for qualified buyers or if it's possible for someone to have their vet of choice to examine him ahead of time
I wonder this too now that we all know that he hurt himself again.
I would not buy any barrel horse without a vet check, much less one that has an known injury without knowing all the details
Of course, those who can afford him should be able to afford big vet bills if needed. I can barely manage the so called small vet bills
Just curious how it works at an auction of this type
Edited by Sangria 2014-03-18 11:43 AM
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Whack and Roll
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Location: NE Texas | ~~ I would personally like to say that I applaud Cheri for having the pride and the class to let the chips fall where they may. It would certainly not be easy to sit back and watch what is being posted on here and on facebook all the while fighting the urge to defend what you know to be true. Cheri, there are lots of us who know you......whether that be on a personal level or just to say "nice run" or smile while passing by at a barrel race, but we know that you are class act. I applaud you for being able to endure all of this and cannot begin to imagine what this has done to you personally. I know eventually that things will settle down and it will be business as usual, but this has no doubt been hard for alot of us to read having watched you compete and respected you as a person way before Latte was even able to lope a set of barrels. For the other parties involved who have chosen the path of airing all of the details publicly, shame on you. In a world where for some reason celebrities are given a pass on what is ok and what is not, have some pride about yourself and remember that actions speak way louder than words and sometimes silence speaks the loudest and has the most credibility. Lastly, for those who believe that either those celebrities account of what the situation is is more valuable simply because they are celebrities in our discipline, I simply don't understand. What makes their opinion more valuable or more legitimate? It doesn't. In fact, if anything, these are the people who should be going above and beyond to ensure they hold themselves to a higher standard, but unfortunately that hasn't been the case. Like I said....actions speak louder and the silence is deafening.....for me at least. I posted this on the other thread, so thought I would repost it here as well. As for the injury, again, in bad taste for the other parties to post on facebook, BHW, or any other public place and absolutely could be taken as a way to affect the outcome of this situation both monetarily and could absolutely be interpretted as an attempt to directly affect the bidding, lower the top bid, and affect the outcome of the situation. If the attorneys have not advised her that this practice is illegal, they certainly should. But the horse wasn't supposed to be hauled right now anyway....legally. Sure would be sad if he's been hurt since before the NFR and continued to be hauled while hurt......illegally. I've said it once and i'll say it again....actions speak louder and silece is deafening.
Edited by Herbie 2014-03-18 11:46 AM
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Shelter Dog Lover
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| Herbie - 2014-03-18 11:42 AM
~~ I would personally like to say that I applaud Cheri for having the pride and the class to let the chips fall where they may. It would certainly not be easy to sit back and watch what is being posted on here and on facebook all the while fighting the urge to defend what you know to be true. Cheri, there are lots of us who know you......whether that be on a personal level or just to say "nice run" or smile while passing by at a barrel race, but we know that you are class act. I applaud you for being able to endure all of this and cannot begin to imagine what this has done to you personally. I know eventually that things will settle down and it will be business as usual, but this has no doubt been hard for alot of us to read having watched you compete and respected you as a person way before Latte was even able to lope a set of barrels.
For the other parties involved who have chosen the path of airing all of the details publicly, shame on you. In a world where for some reason celebrities are given a pass on what is ok and what is not, have some pride about yourself and remember that actions speak way louder than words and sometimes silence speaks the loudest and has the most credibility.
Lastly, for those who believe that either those celebrities account of what the situation is is more valuable simply because they are celebrities in our discipline, I simply don't understand. What makes their opinion more valuable or more legitimate? It doesn't. In fact, if anything, these are the people who should be going above and beyond to ensure they hold themselves to a higher standard, but unfortunately that hasn't been the case. Like I said....actions speak louder and the silence is deafening.....for me at least.
I posted this on the other thread, so thought I would repost it here as well. As for the injury, again, in bad taste for the other parties to post on facebook, BHW, or any other public place and absolutely could be taken as a way to affect the outcome of this situation both monetarily and could absolutely be interpretted as an attempt to directly affect the bidding, lower the top bid, and affect the outcome of the situation. If the attorneys have not advised her that this practice is illegal, they certainly should. But the horse wasn't supposed to be hauled right now anyway....legally. Sure would be sad if he's been hurt since before the NFR and continued to be hauled while hurt......illegally. I've said it once and i'll say it again....actions speak louder and silece is deafening.
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| ThreeCorners - 2014-03-17 7:01 PM
Latte had no rodeo earnings when he came into Walkers life. That was "The next level" of his career and why he was sent to Mary in the first place. So she could ride and season him to the rodeo world so yes, his equistat earnings would be correct when Walkers baught him.
I also dont know where the $120,000 price tag came from. My husband heard Mary say $30,000 was the purchase price when they bought him.
Latte was NOT the horse then that he is now.
**************************************************************
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I think everyone may have misconstrued the 10% and 90% in the LLC .....
I have a sneaky feeling that the Walker's did not have the full amount of the
purchase price and agreed to paying 10% of his winnings along with 10% of
his value to the LLC partner if he did well ....
I think Latte won close to $400,000 in 2012 and 2013 not only in barrel money but a truck and other side items as best dressed, a private memoriam money award
etc etc .... I think all of these things are involved in the court case.....
This is a more of a common deal that makes more sense to me than what everyone is thinking .... |
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Location: California | $2.5 mil? I would go to Keeneland and pay $2.5 mil for a yearling. If Latte won every single barrel race he entered, he still wouldn't be worth $2.5 mil. That is just unrealistic and absurd.
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A Somebody to Everybody
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Location: Under The Big Sky Of Texas | rodeomom3 - 2014-03-18 11:47 AM Herbie - 2014-03-18 11:42 AM ~~ I would personally like to say that I applaud Cheri for having the pride and the class to let the chips fall where they may. It would certainly not be easy to sit back and watch what is being posted on here and on facebook all the while fighting the urge to defend what you know to be true. Cheri, there are lots of us who know you......whether that be on a personal level or just to say "nice run" or smile while passing by at a barrel race, but we know that you are class act. I applaud you for being able to endure all of this and cannot begin to imagine what this has done to you personally. I know eventually that things will settle down and it will be business as usual, but this has no doubt been hard for alot of us to read having watched you compete and respected you as a person way before Latte was even able to lope a set of barrels. For the other parties involved who have chosen the path of airing all of the details publicly, shame on you. In a world where for some reason celebrities are given a pass on what is ok and what is not, have some pride about yourself and remember that actions speak way louder than words and sometimes silence speaks the loudest and has the most credibility. Lastly, for those who believe that either those celebrities account of what the situation is is more valuable simply because they are celebrities in our discipline, I simply don't understand. What makes their opinion more valuable or more legitimate? It doesn't. In fact, if anything, these are the people who should be going above and beyond to ensure they hold themselves to a higher standard, but unfortunately that hasn't been the case. Like I said....actions speak louder and the silence is deafening.....for me at least. I posted this on the other thread, so thought I would repost it here as well. As for the injury, again, in bad taste for the other parties to post on facebook, BHW, or any other public place and absolutely could be taken as a way to affect the outcome of this situation both monetarily and could absolutely be interpretted as an attempt to directly affect the bidding, lower the top bid, and affect the outcome of the situation. If the attorneys have not advised her that this practice is illegal, they certainly should. But the horse wasn't supposed to be hauled right now anyway....legally. Sure would be sad if he's been hurt since before the NFR and continued to be hauled while hurt......illegally. I've said it once and i'll say it again....actions speak louder and silece is deafening.
Edited by Southtxponygirl 2014-03-18 12:07 PM
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Member
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Location: Texas | Amen to that Herbie! People seem to forgot there are two sides to every story. Everything happens for a reason. The only people that know the whole truth and what was or was not agreed upon is Mary and Cheri. |
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 Fact Checker
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Location: Displaced Iowegian | rodeomom3 - 2014-03-18 11:47 AM Herbie - 2014-03-18 11:42 AM
~~ I would personally like to say that I applaud Cheri for having the pride and the class to let the chips fall where they may. It would certainly not be easy to sit back and watch what is being posted on here and on facebook all the while fighting the urge to defend what you know to be true. Cheri, there are lots of us who know you......whether that be on a personal level or just to say "nice run" or smile while passing by at a barrel race, but we know that you are class act. I applaud you for being able to endure all of this and cannot begin to imagine what this has done to you personally. I know eventually that things will settle down and it will be business as usual, but this has no doubt been hard for alot of us to read having watched you compete and respected you as a person way before Latte was even able to lope a set of barrels.
For the other parties involved who have chosen the path of airing all of the details publicly, shame on you. In a world where for some reason celebrities are given a pass on what is ok and what is not, have some pride about yourself and remember that actions speak way louder than words and sometimes silence speaks the loudest and has the most credibility.
Lastly, for those who believe that either those celebrities account of what the situation is is more valuable simply because they are celebrities in our discipline, I simply don't understand. What makes their opinion more valuable or more legitimate? It doesn't. In fact, if anything, these are the people who should be going above and beyond to ensure they hold themselves to a higher standard, but unfortunately that hasn't been the case. Like I said....actions speak louder and the silence is deafening.....for me at least.
I posted this on the other thread, so thought I would repost it here as well. As for the injury, again, in bad taste for the other parties to post on facebook, BHW, or any other public place and absolutely could be taken as a way to affect the outcome of this situation both monetarily and could absolutely be interpretted as an attempt to directly affect the bidding, lower the top bid, and affect the outcome of the situation. If the attorneys have not advised her that this practice is illegal, they certainly should. But the horse wasn't supposed to be hauled right now anyway....legally. Sure would be sad if he's been hurt since before the NFR and continued to be hauled while hurt......illegally. I've said it once and i'll say it again....actions speak louder and silece is deafening.
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Famous for Not Complaining
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Location: Broxton, Ga | Herbie - 2014-03-17 12:42 PM
~~ I would personally like to say that I applaud Cheri for having the pride and the class to let the chips fall where they may. It would certainly not be easy to sit back and watch what is being posted on here and on facebook all the while fighting the urge to defend what you know to be true. Cheri, there are lots of us who know you......whether that be on a personal level or just to say "nice run" or smile while passing by at a barrel race, but we know that you are class act. I applaud you for being able to endure all of this and cannot begin to imagine what this has done to you personally. I know eventually that things will settle down and it will be business as usual, but this has no doubt been hard for alot of us to read having watched you compete and respected you as a person way before Latte was even able to lope a set of barrels.
For the other parties involved who have chosen the path of airing all of the details publicly, shame on you. In a world where for some reason celebrities are given a pass on what is ok and what is not, have some pride about yourself and remember that actions speak way louder than words and sometimes silence speaks the loudest and has the most credibility.
Lastly, for those who believe that either those celebrities account of what the situation is is more valuable simply because they are celebrities in our discipline, I simply don't understand. What makes their opinion more valuable or more legitimate? It doesn't. In fact, if anything, these are the people who should be going above and beyond to ensure they hold themselves to a higher standard, but unfortunately that hasn't been the case. Like I said....actions speak louder and the silence is deafening.....for me at least.
I posted this on the other thread, so thought I would repost it here as well. As for the injury, again, in bad taste for the other parties to post on facebook, BHW, or any other public place and absolutely could be taken as a way to affect the outcome of this situation both monetarily and could absolutely be interpretted as an attempt to directly affect the bidding, lower the top bid, and affect the outcome of the situation. If the attorneys have not advised her that this practice is illegal, they certainly should. But the horse wasn't supposed to be hauled right now anyway....legally. Sure would be sad if he's been hurt since before the NFR and continued to be hauled while hurt......illegally. I've said it once and i'll say it again....actions speak louder and silece is deafening.
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Expert
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Location: Ky | Roady2000 - 2014-03-18 11:59 AM Amen to that Herbie! People seem to forgot there are two sides to every story. Everything happens for a reason. The only people that know the whole truth and what was or was not agreed upon is Mary and Cheri.
That's true and it seems they even disagree on what was agreed to. |
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More bootie than waist!
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Location: Riding Crackhead. | NJJ - 2014-03-18 12:01 PM rodeomom3 - 2014-03-18 11:47 AM Herbie - 2014-03-18 11:42 AM
~~ I would personally like to say that I applaud Cheri for having the pride and the class to let the chips fall where they may. It would certainly not be easy to sit back and watch what is being posted on here and on facebook all the while fighting the urge to defend what you know to be true. Cheri, there are lots of us who know you......whether that be on a personal level or just to say "nice run" or smile while passing by at a barrel race, but we know that you are class act. I applaud you for being able to endure all of this and cannot begin to imagine what this has done to you personally. I know eventually that things will settle down and it will be business as usual, but this has no doubt been hard for alot of us to read having watched you compete and respected you as a person way before Latte was even able to lope a set of barrels.
For the other parties involved who have chosen the path of airing all of the details publicly, shame on you. In a world where for some reason celebrities are given a pass on what is ok and what is not, have some pride about yourself and remember that actions speak way louder than words and sometimes silence speaks the loudest and has the most credibility.
Lastly, for those who believe that either those celebrities account of what the situation is is more valuable simply because they are celebrities in our discipline, I simply don't understand. What makes their opinion more valuable or more legitimate? It doesn't. In fact, if anything, these are the people who should be going above and beyond to ensure they hold themselves to a higher standard, but unfortunately that hasn't been the case. Like I said....actions speak louder and the silence is deafening.....for me at least.
I posted this on the other thread, so thought I would repost it here as well. As for the injury, again, in bad taste for the other parties to post on facebook, BHW, or any other public place and absolutely could be taken as a way to affect the outcome of this situation both monetarily and could absolutely be interpretted as an attempt to directly affect the bidding, lower the top bid, and affect the outcome of the situation. If the attorneys have not advised her that this practice is illegal, they certainly should. But the horse wasn't supposed to be hauled right now anyway....legally. Sure would be sad if he's been hurt since before the NFR and continued to be hauled while hurt......illegally. I've said it once and i'll say it again....actions speak louder and silece is deafening.
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Shelter Dog Lover
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| Southtxponygirl - 2014-03-18 11:58 AM rodeomom3 - 2014-03-18 11:47 AM Herbie - 2014-03-18 11:42 AM
~~ I would personally like to say that I applaud Cheri for having the pride and the class to let the chips fall where they may. It would certainly not be easy to sit back and watch what is being posted on here and on facebook all the while fighting the urge to defend what you know to be true. Cheri, there are lots of us who know you......whether that be on a personal level or just to say "nice run" or smile while passing by at a barrel race, but we know that you are class act. I applaud you for being able to endure all of this and cannot begin to imagine what this has done to you personally. I know eventually that things will settle down and it will be business as usual, but this has no doubt been hard for alot of us to read having watched you compete and respected you as a person way before Latte was even able to lope a set of barrels.
For the other parties involved who have chosen the path of airing all of the details publicly, shame on you. In a world where for some reason celebrities are given a pass on what is ok and what is not, have some pride about yourself and remember that actions speak way louder than words and sometimes silence speaks the loudest and has the most credibility.
Lastly, for those who believe that either those celebrities account of what the situation is is more valuable simply because they are celebrities in our discipline, I simply don't understand. What makes their opinion more valuable or more legitimate? It doesn't. In fact, if anything, these are the people who should be going above and beyond to ensure they hold themselves to a higher standard, but unfortunately that hasn't been the case. Like I said....actions speak louder and the silence is deafening.....for me at least.
I posted this on the other thread, so thought I would repost it here as well. As for the injury, again, in bad taste for the other parties to post on facebook, BHW, or any other public place and absolutely could be taken as a way to affect the outcome of this situation both monetarily and could absolutely be interpretted as an attempt to directly affect the bidding, lower the top bid, and affect the outcome of the situation. If the attorneys have not advised her that this practice is illegal, they certainly should. But the horse wasn't supposed to be hauled right now anyway....legally. Sure would be sad if he's been hurt since before the NFR and continued to be hauled while hurt......illegally. I've said it once and i'll say it again....actions speak louder and silece is deafening. You would think with what all that is going on with all this mess and the Auction coming up next week that Lattle would NOT be allowed to be moved are hauled to a Rodeo. And being ran in Mercedes wow now that was a long ways from home for them. I would think that there would be a court order that the horse could not be moved at all.
Some have said there was a court order he was not suppose to go anywhere. May not be true though. |
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Extreme Veteran
Posts: 349
| I just saw this posted on facebook. Sounds like its just an ugly all around situation.. Prayers he just goes to a good home.
https://www.facebook.com/photo.php?fbid=699060633450551&set=a.603415... |
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Tried and True
Posts: 21185
Location: Where I am happiest | For all those patting Cheri on the back for remaigning silent , she has posted on this very thread a couple times. |
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The best bad guy on the internet
Posts: 3519
Location: Arizona | I thought this thread was frozen??? |
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Shelter Dog Lover
Posts: 10277
| LIVE2RUN - 2014-03-18 5:27 PM I thought this thread was frozen???
back out of time out, probably since Mary is publicly making a statement now. |
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BHW Tour Guide & Concierge
Location: Cyberspace | The freezing and unfreezing of the thread is due to monitoring when time allows. Do not read anything into it other than that. |
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Expert
Posts: 2097
Location: Deep South | LIVE2RUN - 2014-03-18 5:27 PM
I thought this thread was frozen???
The thread has been frozen then "thawed" several times over the past couple days. I think they like to give us all a chance to simmer down for a bit.
Well never mind!
Edited by BamaCanChaser 2014-03-18 5:34 PM
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![](<a href="http://s1191.photobucket.com/albums/z470/alicat0909/?action=view¤t=yellaandcalf.jpg" target="_blank"><img src="http://i1191.photobu) Heeler Hater
Posts: 3014
Location: Texas | Please correct me if I'm wromg but didn't Brittanys gelding Stitch only sell for a little over $300, 000?
I don't forsee Latte selling for much more especially seeing he is now injured. Of course some butt head could bid him way up just to hurt the walkers. But my money is on the Brazilians.
Would hate to see him go to Brazil though. |
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 Expert
Posts: 4625
Location: Desert Land | Alicat0909 - 2014-03-18 3:33 PM Please correct me if I'm wromg but didn't Brittanys gelding Stitch only sell for a little over $300, 000? I don't forsee Latte selling for much more especially seeing he is now injured. Of course some butt head could bid him way up just to hurt the walkers. But my money is on the Brazilians. Would hate to see him go to Brazil though.
They don't buy geldings. |
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Famous for Not Complaining
Posts: 8848
Location: Broxton, Ga | Alicat0909 - 2014-03-17 6:33 PM Please correct me if I'm wromg but didn't Brittanys gelding Stitch only sell for a little over $300, 000? I don't forsee Latte selling for much more especially seeing he is now injured. Of course some butt head could bid him way up just to hurt the walkers. But my money is on the Brazilians. Would hate to see him go to Brazil though.
I don't think the Brazilians are intereted in geldings..........now suger daddys( aka men with money) for girlfriends.....wife.......daughter.......son...........yes. |
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More bootie than waist!
Posts: 18425
Location: Riding Crackhead. | ThreeCorners - 2014-03-18 5:24 PM For all those patting Cheri on the back for remaigning silent , she has posted on this very thread a couple times.
She's been pretty darn classy about the whole deal. |
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10D Crack Champion
| CJE - 2014-03-18 5:38 PM Alicat0909 - 2014-03-17 6:33 PM Please correct me if I'm wromg but didn't Brittanys gelding Stitch only sell for a little over $300, 000? I don't forsee Latte selling for much more especially seeing he is now injured. Of course some butt head could bid him way up just to hurt the walkers. But my money is on the Brazilians. Would hate to see him go to Brazil though. I don't think the Brazilians are intereted in geldings..........now suger daddys( aka men with money) for girlfriends.....wife.......daughter.......son...........yes.
I like the aka men with money...... Is there any other kind of sugar daddy? And where can we find one? LOL |
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Extreme Veteran
Posts: 448
Location: lone star state | Some food for thought on all of this drama....
Rumors are started by Haters, spread by Fools, and believed by Idiots! |
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Heeler Hater
Posts: 3014
Location: Texas | CJE - 2014-03-18 5:38 PM
Alicat0909 - 2014-03-17 6:33 PM Please correct me if I'm wromg but didn't Brittanys gelding Stitch only sell for a little over $300, 000? I don't forsee Latte selling for much more especially seeing he is now injured. Of course some butt head could bid him way up just to hurt the walkers. But my money is on the Brazilians. Would hate to see him go to Brazil though.
I don't think the Brazilians are intereted in geldings..........now suger daddys( aka men with money) for girlfriends.....wife.......daughter.......son...........yes.
Hahaha that's great! Well that's good, would have been sad o see him go souyh. Good thing I didn't bet hubby who'd buy him lol! |
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Shelter Dog Lover
Posts: 10277
| CYA Ranch - 2014-03-18 5:42 PM ThreeCorners - 2014-03-18 5:24 PM For all those patting Cheri on the back for remaigning silent , she has posted on this very thread a couple times. She's been pretty darn classy about the whole deal.
Yes she has. |
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Famous for Not Complaining
Posts: 8848
Location: Broxton, Ga | sodapop - 2014-03-17 6:44 PM CJE - 2014-03-18 5:38 PM Alicat0909 - 2014-03-17 6:33 PM Please correct me if I'm wromg but didn't Brittanys gelding Stitch only sell for a little over $300, 000? I don't forsee Latte selling for much more especially seeing he is now injured. Of course some butt head could bid him way up just to hurt the walkers. But my money is on the Brazilians. Would hate to see him go to Brazil though. I don't think the Brazilians are intereted in geldings..........now suger daddys( aka men with money) for girlfriends.....wife.......daughter.......son...........yes.
Occasionally you will find a sugar mama.......aka woman with money......which I constantly watch for....going to have hubby marry her........... |
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Fact Checker
Posts: 16575
Location: Displaced Iowegian | rodeomom3 - 2014-03-18 5:53 PM CYA Ranch - 2014-03-18 5:42 PM ThreeCorners - 2014-03-18 5:24 PM For all those patting Cheri on the back for remaigning silent , she has posted on this very thread a couple times. She's been pretty darn classy about the whole deal.
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Fact Checker
Posts: 16575
Location: Displaced Iowegian | rodeomom3 - 2014-03-18 5:53 PM CYA Ranch - 2014-03-18 5:42 PM ThreeCorners - 2014-03-18 5:24 PM For all those patting Cheri on the back for remaigning silent , she has posted on this very thread a couple times. She's been pretty darn classy about the whole deal.
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Extreme Veteran
Posts: 591
| Their lawyers are probably loosing their minds over the public posts by both parties. Not smart moves. Way too much detail given that could be construed to better one side and/or degrade the other side. First rule about a lawsuit: Don't talk about the lawsuit until it's over! Stating that Latte was hurt could very well be seen as trying to bring down his current value and what would be distributed to the other party. There was no need to bring that up. That information could have been kept on a "need-to-know" basis as in only the parties that were interested on bidding on him (which you had to be able to show you had enough funds from your bank that you could immediately pay the price) would need to know vet check results if there is a "pre-purchase" exam performed. I can understand the need to clear the air, but it could have been said "I am very saddened by the situation. Yes Latte is involved in a lawsuit. I am not allowed to talk about it until the proceedings are over". Yes it must be difficult to read what people might be saying about you, but there is a very easy solution - delete all your social media and don't go anywhere near BHW. Then you don't see it and are not tempted to write about it publicly.
So who will be webcasting the auction so we can all see it? I am waiting to see a report on this from TMZ any day now too! |
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Expert
Posts: 2097
Location: Deep South | 3 To Go - 2014-03-18 6:10 PM Their lawyers are probably loosing their minds over the public posts by both parties. Not smart moves. Way too much detail given that could be construed to better one side and/or degrade the other side. First rule about a lawsuit: Don't talk about the lawsuit until it's over! Stating that Latte was hurt could very well be seen as trying to bring down his current value and what would be distributed to the other party. There was no need to bring that up. That information could have been kept on a "need-to-know" basis as in only the parties that were interested on bidding on him (which you had to be able to show you had enough funds from your bank that you could immediately pay the price ) would need to know vet check results if there is a "pre-purchase" exam performed. I can understand the need to clear the air, but it could have been said "I am very saddened by the situation. Yes Latte is involved in a lawsuit. I am not allowed to talk about it until the proceedings are over". Yes it must be difficult to read what people might be saying about you, but there is a very easy solution - delete all your social media and don't go anywhere near BHW. Then you don't see it and are not tempted to write about it publicly. So who will be webcasting the auction so we can all see it? I am waiting to see a report on this from TMZ any day now too!
THIS is what I have been wondering!! |
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I heard Latte is going up at auction in two weeks
