Former jockey Shane Broderick, who is paralysed from the neck down as a result of a fall at Fairyhouse two years ago, is to set up his own horse livery business, the High Court heard yesterday.
Mr Justice McCracken approved payments of £72,500 to start the business from the trust fund set up for Mr Broderick (24) following his accident on March 31st, 1997. The trust, which was officially launched on July 13th 1997, has raised more than £1.2 million to date.
Payments have already been made out of the fund towards a specially adapted house for Mr Broderick and towards his medical and care expenses.
The judge heard the house built by the trust for Mr Broderick at Rathcabin, Co Tipperary, has cost more than £240,000. On the application of the trustees, the judge approved a loan for that amount to Mr Broderick, secured by way of a mortgage on the Rathcabin property.
The orders were made by the court on the recommendation of the four trustees of the Shane Broderick Trust - Mr David Pim, Mr Andrew Coonan, Dr Walter Halley and Mr John McStay.
While Mr Broderick is permanently physically incapacitated following his accident, his mental faculties are intact, the court heard. In an affidavit, Mr Pim, a stud farmer, said the idea of setting up a small livery business had been Mr Broderick's. The proposal had been considered in the context of the available capital resources of the trust fund, and the future requirements of Mr Broderick for medical, maintenance and capital expenditure. Mr Broderick had no outlet for his creative energies and it had become clear, from a therapeutic point of view, that the proposed business was a necessity for his emotional health, Mr Pim said. All the trustees agreed they should provide the funding subject to court approval.
After considering the submissions on behalf of the trustees, and from Mr Frank Clarke SC, for Mr Broderick, Mr Justice McCracken said he would approve the payment of £17,500 for the erection of stables on Mr Broderick's lands at Rathcabin, £25,000 for the purchase of horses and three annual payments of £10,000 as a contribution towards the running costs of the proposed business.
The judge said the payments would make some inroads, but not huge ones, into the capital of the trust fund. The medical evidence was clear that the business would be beneficial for Mr Broderick.
