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I heard Latte is going up at auction in two weeks


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LIVE2RUN
Reg. Oct 2005
Posted 2014-03-17 3:05 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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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Lovin Life
Reg. Apr 2004
Posted 2014-03-17 3:05 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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I don't know why anyone would clone him with full siblings on the ground (or in utero).  
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FlyingJT
Reg. Jan 2014
Posted 2014-03-17 3:05 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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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3rdtimesacharm
Reg. Dec 2003
Posted 2014-03-17 3:06 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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well its pretty obvious or they wouldnt be in this situation 
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FlyingJT
Reg. Jan 2014
Posted 2014-03-17 3:14 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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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GOIN' FAST
Reg. Apr 2011
Posted 2014-03-17 3:15 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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Hope this all ends the right way.
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FlyingJT
Reg. Jan 2014
Posted 2014-03-17 3:20 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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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3rdtimesacharm
Reg. Dec 2003
Posted 2014-03-17 3:22 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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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runsupport
Reg. Feb 2011
Posted 2014-03-17 3:23 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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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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LeterBuck
Reg. Jun 2012
Posted 2014-03-17 3:24 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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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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FlyingJT
Reg. Jan 2014
Posted 2014-03-17 3:25 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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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Firemanswife
Reg. May 2013
Posted 2014-03-17 3:28 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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Anyone on here going to actually try to go see it?
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skeeter 777
Reg. Mar 2006
Posted 2014-03-17 3:29 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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.  
Sadly I have seen this first hand, just because they have the $$ does not mean they take care of their animals.  Appearance and reality can be very different things in the world of the wealthy.  Many, many prayers that this is settled and Latte stays with the Walkers.

Edited by skeeter 777 2014-03-17 3:35 PM
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rodeomom3
Reg. Dec 2007
Posted 2014-03-17 3:31 PM
Subject: RE: I heard Latte is going up at auction in two weeks



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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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Firemanswife
Reg. May 2013
Posted 2014-03-17 3:31 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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Yeah and you see people spend $350,000 on luxury cars and total them. Very true.
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Jan Sigler
Reg. Oct 2004
Posted 2014-03-17 3:43 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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Be sure and wear your name tag Firemans wife so we know who you are.
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Jan Sigler
Reg. Oct 2004
Posted 2014-03-17 3:44 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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Be sure and wear your name tag Firemans wife so we know who you are.
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Porkchop
Reg. Nov 2007
Posted 2014-03-17 3:46 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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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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ksjackofalltrades
Reg. Jan 2005
Posted 2014-03-17 3:49 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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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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Firemanswife
Reg. May 2013
Posted 2014-03-17 3:49 PM
Subject: RE: I heard Latte is going up at auction in two weeks


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Not going just curious if anyone will.
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