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Actually, something like this just happened a few weeks ago at Bay Meadows.  The answer is that it would depend on the state laws that apply to Fairgrounds -- At Bay Meadows, a race finished 5-2-4.  There was an inquiry, the #2 against the #5 and the #4 against the #2.  The stewards ruled the #5 was dq\'d from first to second for interference with the #2.  Then, the stewards ruled the #2 was dq\'d from first and placed third for interfering the #4.  The final result was 5-4-2.

  The reason, according to state law is that the stewards are to take each indicent in the order it happened, in the case at bay meadows, the 5 did interfer with the 2, then the 2 interefered with the 4.  So the 5, while being dq\'d, still ended up the official winner.

Dubai or no Dubai, I don\'t think the horse is much and would be a reach to win the Derby anyway.

Bill