The largest creditors in the Jockeys' Guild bankruptcy case are two past national managers now involved in legal proceedings against the organization, and both have been selected as part of a five-member committee made up of creditors with significant claims against the Guild.
A lawsuit by the Jockeys' Guild against former chief executive officer Wayne Gertmenian and others has been dismissed by a Los Angeles federal court judge, but a related California state court trial is still scheduled for mid-October.
Many of the jockeys who were instrumental in overthrowing the controversial management team at the Jockeys' Guild last fall and moving the organization in a new direction were re-elected to the organization's senate after the ballots were counted June 5.
The Jockeys' Guild has issued a statement that former Guild president Wayne Gertmenian issued checks totaling $217,000 to himself, his Matrix Capital Associates, and former Guild vice president Albert Fiss.
Jockeys took back the reins of the Jockeys' Guild Tuesday when they voted to remove Guild president Dr. Wayne Gertmenian from his post, terminate the Guild's relationship with Gertmenian's consulting firm, Matrix Capital Associates, and appoint Guild national member representative Darrell Haire as temporary national manager of the organization.
Darrell Haire, one of the more recognizable faces of the Jockeys' Guild as a national member representative who often appears at industry meetings on behalf of riders, on Nov. 9 called for the immediate resignation of Guild president Dr. Wayne Gertmenian.
Members of the Jockeys' Guild senate have called a special meeting for Nov. 15 to decide whether to remove the current board of directors, elect a new board, and replace the management team headed by Dr. Wayne Gertmenian and his company, Matrix Capital Associates. The jockeys who issued the release left little doubt they want a change.
A labor lobbyist and lawyer in Sacramento, Calif. who has represented the Jockeys' Guild for 11 years dropped the organization as a client Oct. 21 after its management came under sharp criticism at a Congressional sub-committee hearing earlier in the month.
The board of directors of the Jockeys' Guild will begin examining the organization's financial records at its office in Southern California, but members haven't made a decision on the status of Matrix Capital Associates, the entity that manages the Guild.
A U.S. House of Representatives subcommittee looking at jockey health and welfare issues was sharply critical of current Jockeys' Guild management during a hearing on Tuesday that began with testimony from paralyzed rider Gary Birzer and ended with a comment calling Wayne Gertmenian's actions as Guild president and CEO an "absolute disgrace."
U.S. Congress issued two subpoenas Tuesday for Jockeys' Guild president Wayne Gertmenian as part of an ongoing investigation into the organization headed up by U.S. Rep. Ed Whitfield.
The Jockeys' Guild has responded to a request by a United States Congressional subcommittee related to its management, accounting and oversight of funds, but the information produced by the California-based Guild won't be available until the week of May 10.
The Jockeys' Guild paid $448,000 to Matrix Capital Associates in 2003, according to a financial report the Guild filed Feb. 11 with the U.S. Department of Labor.
The board of directors of the Jockeys' Guild has entered into a three-year management and consulting contract with Matrix Capital Associates and Dr. L. W. Gertmenian.
Jockey Chris McCarron has resigned from the Youbet.com board of directors because of increasing demands from the Jockey's Guild.
The Jockeys' Guild wants the racing community to help build a $10 million endowment that will provide long-term support for its disabled jockeys program
The Jockeys' Guild has entered into a contract that will restore health insurance, including major medical coverage, for its members and their families, effective Jan. 1, 2002.
Four jockeys and the chief executive of a California management firm running the Jockeys' Guild will remain part of a wrongful termination and slander suit filed by former Guild national manager, John Giovanni. A Fayette County circuit court judge on Friday asked attorneys on both sides to finish their depositions in the case and readdress the motion to dismiss later with more refined arguments.
A hearing to determine if five defendants should be dismissed from a lawsuit filed against the Jockeys' Guild by former national manager John Giovanni was postponed Wednesday due to illnesses by attorneys on both sides of the case.
Jerry Bailey, Jockeys' Guild president emeritus, is resigning Friday from his positions on the Guild's executive committee and board of directors. He is resigning because he believes a five-member majority of the executive committee acted too hastily in hiring Matrix Capital Associates to manage the Guild.
Citing philosophical differences with the organization, jockey Pat Day has resigned as president and as a member of The Jockeys' Guild. "There is a distinct philosophical difference that prohibits me from any longer being a part of the organization," Day told bloodhorse.com Tuesday.
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