Ballyhane Stud owner Joe Foley denies Steve Parkin's claim that stallion Sands Of Mali is being unlawfully held in High Court battle

Joe Foley's defence team has strenuously denied allegations made in the Irish High Court by Steve Parkin, the Classic-winning owner and founder of Clipper Logistics, that stallion Sands Of Mali is being unlawfully held at Ballyhane Stud in County Carlow.

On Tuesday Foley, the stud's owner, vigorously rejected those claims, which were made in Parkin's affidavit last week, as the case came in front of the High Court once more.

In a sworn affidavit filed with the High Court in response to a string of assertions made by Parkin concerning his management of stallions, Foley's defence team stated they were without foundation and were "belated and cynical attempts" to malign him.

Prior to the sudden breakdown of their 20-year relationship in March, Foley had been promoted in January to head of bloodstock and racing by Parkin, according to court filings, and had been praised by the owner in interviews at the end of 2023.

Foley said a claim by Parkin's accountant that he was owed €6m in outstanding stallion fees was "outrageous".

In the affidavit, Foley provided detailed information to reject claims made last week by his former friend that the Group 1 Champions Sprint winner, who the court was told has an estimated value of €2.4 million, is owned wholly by Parkin.

Foley's legal team submitted evidence to the court, including financial documentation and accounts which show an even split of Sands Of Mali's stud fees. They claim this illustrates that Sands Of Mali is owned 50-50 between the pair.

Sands Of Mali won the 2018 Group 1 Champions SprintCredit: Edward Whitaker (racingpost.com/photos)

Rebutting the assertions made last week by Parkin and Clipper BCS LLP – the company name of the entrepreneur's Yorkshire Stud – that Sands Of Mali is owned in full by the former logistics mogul, Foley's affidavit stated that he had purchased Sands Of Mali from Peter Swann of the Cool Silk Partnership for £225,000 plus VAT in August 2020.

He contends that it was only after Foley had agreed to the purchase of the horse, which was facilitated by trainer Richard Fahey, that Parkin agreed to take a 50 per cent stake in Sands Of Mali, having previously stated in a message to Foley that he "won't make it as a stallion".

The sale was concluded by Parkin's firm paying the entire invoice and Ballyhane Stud Limited crediting it with €120,000 against its outstanding boarding and pre-training fees due to Foley.

A statement from Fahey was also included as part of the evidence submitted by Foley's legal team, stating, "Joe informed me that Steve had bought 50 per cent of the horse, soon after Steve informed me that he owned 50 per cent of him."

Sands Of Mali is also among a number of equine assets used as security by Clipper BCS LLP on a loan charge registered with Companies House last month with his approved location listed as Dullingham Park, the Newmarket stallion farm owned by Parkin.

It emerged on Tuesday that other horses owned by Parkin have also been used as security on loan charges, including Space Traveller, who was removed by Parkin from Ballyhane Stud to Starfield Stud, County Westmeath, in March.

The evidence came as part of an ongoing legal dispute between Parkin and Clipper BCS LLP and Foley and Ballyhane Stud, which includes a separate High Court action that Foley and Ballyhane have taken against Parkin, Clipper BCS LLP and an Irish-registered company entitled Ballyhane (Rathbride) Unlimited.

Foley is proposing that since the issues around the ownership of Sands Of Mali are incapable of being resolved that the stallion should be sold and the proceeds of the sale be divided equally between both parties after payments of costs and expenses, or alternatively that the proceeds of the sale be held in escrow until judgement is determined by the High Court.

The case is due to come before the High Court again on Friday, November 8.

Read more here:

Owner Steve Parkin claims stallion is being held unlawfully at stud of former adviser in High Court tug of war 

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