LEADING Melbourne rider Greg Childs will be out to continue his plundering of Australia's feature sprint events on Wednesday when he partners promising three-year-old Alannon against a star-studded field in the Group One Australia Stakes at Moonee Valley. Childs has been in outstanding form this season - his 24 wins have him currently lying equal second with Steven King on the Victorian Jockeys' Premiership - form that has him looking forward to the forthcoming rich Autumn Carnivals in Sydney and Melbourne. Alannon's brilliant win in the Group Three Rubiton Stakes at Sandown last Saturday, defeating quality gallopers such as Lady Jaeko, Durbridge, Skating and Klokka, gave Childs his fifth Group winner of the season, those wins highlighted by his successful association with Gold Brose in the Group Two Linlithgow Stakes and Sports Works, who narrowly defeated Schillaci in last Spring's A .J. Moir Stakes at Moonee Valley. But while Childs continues to ride in outstanding form he is quick to recognise the experience he gained while riding in Hong Kong in the early part of last year. While there, of course, Childs lifted Hong Kong's premier equine event, the Hong Kong Invitation Cup on Romanee Conti. Childs was impressed with what he experienced during his sojourn to Hong Kong, the experience of riding against some of the best jockeys and riding on racecourses comparable to any throughout the world. On his return to Australia, Childs immediately established himself on the racing scene in this country, and while his association with Alannon has provided a firm base, further success is guaranteed. The jockey didn't take long either in making his presence felt in Melbourne after his permanent move to Australia from New Zealand, his Melbourne Jockeys' premiership win in 1991-92 mixing nicely with his Group One successes on Richfield Lady, Final Card, and Riva Diva, the first filly collecting a VRC Oaks, Final Card winning the Gadsden and Riva Diva taking the Blue Diamond Stakes. Today Childs makes the trip north to Sydney to ride the promising sprinter Stormy Regent in the Group Three weight-for-age Challenge Stakes at Randwick, a trip that provides the necessary evidence that the jockey remains dedicated to the cause of riding feature race winners. Childs is currently 12 wins behind Damien Oliver in the race for the Melbourne jockeys' premiership but lies in front of such top riders as Michael Clarks, Alf Matthews, Paddy Payne, Greg Hall, Simon Marshall and David Taggart. Meanwhile, Queensland breeder Jon Haseler was also on the move with his successful negotiation to stand promising colt Alannon at his Glenlogan Park Stud at Jimboomba. Alannon will now be aimed at Group One success to strengthen his claims as a season sire next spring. The colt showed that he will not be lost in Group One company after his first-up defeat of Lady Jaeko, Durbridge, Klokka and Skating in the Rubiton. Alannon will attempt to emulate his half-brother, the former top class colt and now promising sire Zeditave, by winning the Group One weight-for-age Australia Stakes and Lighting Stakes before a northern campaign is mapped out. Should he remain in form, Alannon will campaign during the Brisbane winter carnival before joining the former top-class galloper St Jude at Glenlogan Park Stud next season. Apart from Zeditave, Alannon's dam, the Crowned Prince mare Summoned, has produced the Blue Diamond Prelude winners Square Deal and Zedagal as well as Group Three winner Pampas Fire. Leading Sydney bookmaker Colin Tidy has retained a share in Alannon although Glenlogan Park have secured the major ownership. Creditors have voted to accept the proposal of champion trainer Bart Cummings' attempt to stave off outright bankruptcy and the trainer will now train ''for them'' for the next five years. The creditors, which include William Inglis & Son, which are owed A$13.7 million (HK$74 million), Wrightson Bloodstock, who are owed A$4.4 million, ANZ Bank, A$4.9 million, and Elders Pastoral Company A$3.4 million. Cummings met with Donnelly and put forward the Scheme of Arrangement whereby 75 per cent of his training percentages over the next five years go to his creditors. If A$75,000 is made up from those contributions at the end of the five years then Cummings is freed of any financial burdens he now has. This five-year plan with the A$750,000 minimum requires Cummings' trained horses to win at least A$10 million over the next five years - an average of $2 million per year.