Three trainers with horses from Layezy group report fees have been paid in full

Three trainers responsible for seven of the 23 horses owned by the Layezy Racing Owners Club have revealed their fees have been paid in full through to the end of January, despite the club's founder Mike Stanley filing for bankruptcy this week.

Stanley's circumstances have understandably concerned those who signed up to the owners and betting club, with those who invested fearing their money lost, but Ivan Furtado, who trains four horses for the club, Kayley Woollacott, who trains two, and Amy Murphy, who trains one, reported on Saturday they are up to date with payments.

"I'm not owed a penny," said Murphy. "They've paid their fees for January. I have only one horse for them, who is on holiday at the moment, so I've not actually been affected.

"I don't know what will happen next. By the end of next week we'll have a better idea what the plan is."

Woollacott echoed those sentiments, while Furtado said: "I was surprised when I read it in the paper because I've been paid in full and had no idea there was potentially an issue. Mike has never done anything wrong by me and paid all the bills on time.

"They've been in touch and we'll continue to look after the horses as normal for now. Whether they go to the sales or they can work something out for the existing owners, I don't know, we'll see which way it goes."

London-based insolvency firm Duff & Phelps has been appointed as trustee in the bankruptcy and has started the process of realising assets while continuing to obtain investor claims. Anyone owed money can register as a creditor with the Insolvency Service.

Kayley Woollacott: trains two horses for the Layezy groupCredit: Getty Images

A statement earlier this week from the BHA read: "Anyone financially involved or dependent upon the Layezy Racing Owners Club Syndicate will receive updates from the Trustees in Bankruptcy via the layezyinvestors@duffandphelps.com email address.

"Anyone who feels they may be a victim of fraud can contact Action Fraud, the UK’s national reporting centre for fraud and cyber-crime."

Members of the Layezy Racing Owners Club and betting syndicate have set up a Facebook support group as they seek clarity on whether Stanley's bankruptcy will affect their investment.

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