A Kentucky state judge has ruled on a summary judgment in favor of Stan Fulton in his lawsuit against Stonewall Farm Stallions, saying the stud farm owes the horseman and racetrack owner more than $800,000 on the sale of sire It’s No Joke.
Fulton, a breeder/owner who also owns Sunland Park in New Mexico, claimed in his original complaint that Stonewall defaulted on the balance of a $1.1 million contract signed in 2006 to purchase the 6-year-old son of Distorted Humor --It’s Personal, by Personal Flag.
Fayette County Circuit Court Judge Thomas L. Clark in November granted the partial summary judgment motion which seeks an unpaid balance of $813,160, plus interest. Fulton claims in a complaint filed in March Stonewall defaulted on monthly installments of $30,745 as dictated by an addendum to the contract.
“There is no genuine issue of material fact regarding Stonewall’s obligation to pay for the horse,” Clark wrote in his order.
Stonewall argued in a cross-complaint that the ownership title to It’s No Joke was encumbered by a lien that existed at the time of the sale, and also claimed that a January 2008 settlement in which Stonewall principal Richard Haisfield agreed he would pay Fulton $585,000 supplanted terms of the original contract. The settlement amount was never paid, according to the judge’s order.
But Clark denied summary judgment against Stonewall principal Audrey Haisfield, who is also named as a defendant in the lawsuit, saying a “material question of fact” remains outstanding concerning her personal liability. The judge ordered discovery to continue in the matter, including the taking of depositions of both Haisfields.
Attempts to speak with an attorney affiliated with Stonewall Farm Stallions weren’t immediately successful. It’s No Joke is one of 12 stallions listed as standing at Stonewall, which is located near Versailles, Ky. Fulton also sold the stud farm the stallion A.P. Warrior.
