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Following a motion by the bank, the court on Wednesday ordered the seizure of Hurley's 12 shares in the stallion Songandaprayer, by Unbridled's Song, which were collateral for the loan.
Hurley paid $1 million for Songandaprayer as a 2-year-old. The colt then won the 2001 Fountain of Youth Stakes at Gulfstream Park, finished second in the Toyota Blue Grass Stakes and went on to finish 13th in the Kentucky Derby, which was won by Monarchos.
The stallion is syndicated, and total value of the Hurleys' shares, according to PNC's suit, is approximately $1 million.