Lion Hunter investors to sue stud chief
SYNDICATE members who held shares in promising Australian stallion Lion Hunter, a son of Danehill who was putdown after a paddock accident in 2004, are suing the manager of the stud where the sire sustained his injury.
According to a report in Australian newspaper Herald Sun, eight syndicate members have filed a suit against Neville Stewart,manager of Oaklands Stud in Queensland, where Lion Hunter had covered a book of 200 mares and had nearly completed his 2003 book before injuring a fetlock and being put down several weeks later aged 11.
As well as claiming that Stewart breached his duty of care, the shareholders allege that syndicate managers Sire Custodians failed to act in the best interest of the syndicate. They are also suing for loss of income.
Lion Hunter was crowned Australia's champion first-season sire of the 2001/02 southern hemisphere season and left the Group 1 winners Gold Edition and Lovely Jubly.
Documents filed with the court state that the stallion syndicate was divided into 42 shares each worth A$11,000 and that Stewart held a controlling 25 per cent interest.