Killoran Defaults on Six Yearling Purchases in France

An Irish bloodstock agent and his British client continue racking up defaults at major sale companies around the globe.

Agence Francaise, the Deauville sales company, recently reported that no payment has been received on six yearlings bought for Ff8,320,000 ($1,120,000) in August by agent Paul Collins on behalf of Berkshire businessman Bobby Killoran. The horses will now be resold next month. Collins' purchases included a Ff2.6 million ($350,250) Sadler's Wells colt and a Ff2.2 million ($296,365) son of Darshaan.

"The yearlings are being offered for sale because they haven't been paid for but I cannot say a lot more than that," Jocelyn de Moubray, a spokesman for Agence Francaise, told the Racing Post.

The French agency is the fourth major auction house forced to resell horses because Killoran hasn't paid for them.

Keeneland filed a lawsuit Oct. 9 in Fayette County, Kentucky, against Killoran when he defaulted on two horses bought for $1.4 million during the July selected yearling sale. The horses were resold at the Goffs Bloodstock Sales in Ireland for $661,262.

Fasig-Tipton repossessed eight horses bought at its summer select yearling sale for $1,945,000 and is selling them privately.

Tattersalls (Ireland) also was forced to resell a Be My Native 3-year-old gelding that Collins bought for $168,301 in July. The gelding was resold at Fairyhouse this month for $87,516, according to the Racing Post.

Attempts to reach Collins have been unsuccessful. Killoran's son has been reported in European papers saying Collins did not have his father's permission to buy the horses.