Bank Files Suit Against Cash Asmussen

Fifth Third Bank seeks to sell horses to settle debt.

Cash Asmussen, a former Eclipse Award winning jockey in the U.S. and leading rider in Europe, has been sued by a bank for failure to make payments due in October on a loan of more than $2.99 million, according to the Lexington Herald-Leader.

According to the newspaper, Asmussen, his wife Cheryl and their Mark Point Stables were sued by Fifth Third Bank in Fayette County (Lexington) Circuit Court. The newspaper reported the bank is seeking to sell horses to settle the debt. Mark Point provided horses as collateral for the loan, on which $3.08 million plus interest was owed as of Dec. 8, according to the suit.

Asmussen, the brother of leading trainer Steve Asmussen, retired from riding in 2001 with more than 3,000 career wins. As a jockey, he was the leading apprentice in North America in 1979 went on to a successful career in Europe, winning five riding titles in France.