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Equine Transactional

Contact an Equine Transactional Attorney

OVERVIEW

Stoll Keenon Ogden’s Equine Transactional practice has provided legal service to the industry for more than 75 years. Our experience is vast and longstanding, and we understand equine law on a worldwide level.

SKO is prepared to assist with equine matters in the following fields:

Administrative Law
The firm represents race tracks and associations, as well as owners, trainers and other persons and entities in equine industry before administrative tribunals. We have also served as counsel to a racing commission.

Commercial
SKO has been a pioneer in the development of contracts for the purchase and sale of horses, and we understand the unique challenges of customs and usages in the industry.

Industry & Nonprofit Organizations
SKO has served as primary counsel to not-for-profit, charitable and other Thoroughbred industry organizations for most of its history. Such representation includes negotiation and drafting of agreements with race tracks, horsemen’s organizations, sponsors, wagering entities, entertainers and others.  The firm also assists in formulating and drafting an information guide for the annual world championships, including rules governing the conduct of the races.

Financing
We assist in developing the framework for commercial financing in the equine business. The firm’s attorneys have been at the forefront in developing multi-currency and Eurodollar credit facilities secured by stallions, mares, racehorses, foals and even stallion seasons.

Intellectual Property
SKO provides intellectual property services to race tracks, industry organizations and horse owners throughout the United States.

International Transactions
We represent major racing and breeding entities throughout the world. Clients come from Dubai, Canada, England, Ireland, Scotland, France, Italy, Saudi Arabia, Australia, Brazil, Argentina, Japan and New Zealand. The firm also represents United States companies participating in the highly sophisticated international equine marketplace.

Syndications
SKO attorneys have the knowledge to meet your needs whether your idea of a “syndication” is a traditional stallion syndication, a dual hemisphere stallion syndication, a racing partnership or a breeding partnership. The experience of the firm’s attorneys extends beyond the primary Thoroughbred business to include other breeds such as Quarter-horses, Standardbreds and cold blooded breeds.

Taxation
We advise clients in the structuring of business operations for the purpose of minimizing taxes, including income, sales and use and transfer taxes, as well as VAT and GST. Non-resident clients are also represented in the structure of operations in the United States, repatriation of earnings and the inter-workings of double taxation treaties. Clients have been successfully represented in disputes with the Internal Revenue Service involving application of the “hobby loss” and “passive activity loss” rules. Doug Romaine serves as a member of the Tax Advisory Board to the American Horse Council and is a frequent lecturer on equine tax issues.

Litigation and Alternative Dispute Proceedings
When conflicts do arise among participants in the industry, SKO’s Equine Litigation practice has attorneys fully versed in all aspects of litigation and alternative dispute resolution. In the public auction arena, conditions of sale frequently require the use of mediation. Firm attorneys have been at the forefront of major equine litigation as well as collection matters involving familiarity with the arcane rules applicable to agisters’ liens and stud fee liens. Visit the Equine Litigation practice for more information.

Work Highlights

Equine Tourism

SKO aided in the creation and formation of a non-profit Equine Tourism entity designed to garner tourism onto Central Kentucky horse farms and increase fan support and awareness in the sport of horse racing.

Related Practices: Real Estate, Equine Transactional

Equine Financing

Represented bank client in the documentation and negotiation of multiple secured credit facilities in excess of $20 million used to finance the obligors’ equine operations throughout the United States.

Acquisitions & Syndications

SKO represented clients in the acquisition of significant breeding interests in five Thoroughbreds which became ranked among the 10 leading sires of 2011 as well as three of the past six winners of the Kentucky Derby.  SKO continued to be active in the syndication of stallions rotating between hemispheres, including stallions rotating between Europe and Australasia, the United States and South America, and the United States and Australia, and the related tax issues involved.

Mergers & Acquisitions

We have represented a number of clients in the acquisition of thoroughbred farms and related membership interests, including verification of environmental data and private development rights.

Estate Planning & Administration

SKO administers the estates of notable horsewomen and horsemen and is actively involved in planning estates in the shifting economic climate.

Horse Farm Transactions

SKO has represented numerous domestic and international clients with the acquisition and disposition of premier horse farms and related properties throughout the United States.

Related Practices: Real Estate, Equine Transactional

INDUSTRY INVOLVEMENT

The Jockey Club

Thoroughbred Owners and Breeders Association

Breeders’ Cup Limited

National Thoroughbred Racing Association

Tax Advisory Board to the American Horse Council

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