Bailey to Guild Creditors' Panel
by Claire Novak
Date Posted: 12/20/2007 4:19:01 PM
Last Updated: 12/21/2007 10:41:14 AM
In the latest development in the Jockeys’ Guild bankruptcy case, former Guild president and retired Hall of Fame rider Jerry Bailey was appointed to a creditors’ committee that is chaired by ousted Guild manager Wayne Gertmenian.
According to a notice filed Dec. 20 in a U.S. Bankruptcy Court in Louisville, Bailey was added to the committee by trial attorney Scott J. Goldberg, who has been appointed to oversee the dealings of the committee.
“It was brought up to me about 10 days ago that it could be a possibility,” said Bailey from his home in Florida. “I thought about it and thought I could be valuable to the court. I can paint a clear picture of the Guild and how it works, of (Gertmenian’s) association during the time I was there, and through to the present thanks to my involvement in the congressional hearings that took place in 2005.”
According to Bailey, meetings of the creditors’ committee will take place by conference call.
“After Mr. Goldberg explained what the requirements would be, I volunteered to participate yesterday,” he said. “If it helps them get through the bankruptcy proceedings in any way, I’m glad to do it.”
Bailey was elected as president of the Guild in 1989 and had served as a regional representative and vice president before accepting that position. He served as president for seven years and later resigned from the organization in 2001 due to differences with the management, then under Gertmenian’s direction.
The Guild filed for chapter 11 bankruptcy protection on Oct. 12, 2007.
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