Confirmation of a plan allowing the Jockeys' Guild to emerge from bankruptcy was delayed for at least a couple of weeks during a Nov. 17 hearing in a Kentucky federal court, but the judge presiding over the Chapter 11 reorganization said he expects to approve the necessary order when it crosses his desk.
Two days after the Jockeys' Guild filed a formal plan of reorganization in its Chapter 11 bankruptcy, the U.S. Trustee overseeing the action dropped the group's former national manager Wayne Gertmenian from the unsecured creditors committee.
A federal judge presiding over the Jockeys' Guild bankruptcy proceedings denied a request to move the case to California Jan. 29, saying Kentucky was the right place for the group to reorganize its operations.
The financially troubled Jockeys' Guild has slightly more assets than liabilities, but projects a working monthly deficit of nearly $120,000, according to documents filed Nov. 26 in compliance with the group's bankruptcy protection action.
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.
Dwight Manley, who just eight days ago signed a contract as the new national manager of The Jockeys' Guild, said on TVG Saturday afternoon that a settlement had been reached the previous evening with permanently disabled jockey Gary Birzer.
The Jockeys' Guild on Tuesday made several changes in its dues, insurance, and disability policy designed to bring the organization back from the brink of bankruptcy at which it found itself following a management change in November that purged former president Wayne Gertmenian and his top assistants.
An internal investigation conducted by new Jockeys' Guild leadership reveals nearly $2.1 million was spent using funds that were earmarked for other purposes during former Guild president Dr. Wayne Gertmenian's tenure, according to a Guild press release issued Thursday.
A day after a 16-year-old apprentice jockey died in a racing accident at an Ohio track, racing officials and representatives from horsemen's groups met Thursday before a Congressional subcommittee to report on their ongoing efforts in addressing safety, health and welfare issues for jockeys and their perspectives on on-track injury insurance.
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.
A growing number of jockeys across the United States are demanding the immediate resignation of Wayne Gertmenian president and CEO of the Jockeys' Guild and the termination of any relationship with his management company Matrix Capital Associates.
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.
Jockeys' Guild board chairman David Shepherd said he will bring a neutral position on the organization's leadership, specifically president and CEO Wayne Gertmenian, when the board conducts a teleconference meeting as early as Tuesday evening.
A U.S Congressional subcommittee has deemed the Jockeys' Guild efforts to fulfill a subcommittee request for information and documents related to the Guild's management and fiscal activities inadequate.
The Jockeys' Guild has provided documentation requested by a United States Congressional subcommittee regarding Guild management, finances, and actions related to health insurance policies for its members.
Leaders of the Jockeys' Guild and Teamsters Union met Wednesday in San Diego to discuss how the two organizations can work together to advance the mutual interests of their members in the horseracing industry.
Churchill Downs president Steve Sexton has set a Dec. 7 deadline for the Jockeys' Guild to respond to a letter asking the organization to account for the $1.25 million CDI racetracks have given to the rider's organization over the past three years.
Hoosier Park in Indiana lost its entire 12-race card the evening of Nov. 12 after all but a few members of the jockey colony refused to ride. The jockeys are protesting over what they believe is a lack of adequate medical insurance, and they also called on the track to install a safety rail.
By Ray Paulick - The Nov. 7 dispute between a group of riders and the management of Churchill Downs was not the first and surely will not be the last time jockeys have taken action to express displeasure with their plight.
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.