Valiramix was destroyed after falling in the Champion Hurdle

Cadougold was third for Martin Pipe and Phar From A Fiddle fourth.

Nocksky and Gulshan led the field through the first circuit but the race closed up at the top of the Cheltenham hill as the pace slackened.

The Bushkeeper launched his challenge on the final turn and quickly moved three lengths clear.

Ceanannas Mor was first to respond but his stablemate always had his measure in the closing stages.

Full result 1630

1. The Bushkeeper (Mr D Crosse) 9-2 Fav
2. Ceanannas Mor (Mr R H Fowler) 20-1
3. Cadougold (Mr Gordon Elliott) 25-1
4. Phar From A Fiddle (Miss P Gundry) 16-1

1555 - William Hill National Hunt Handicap Chase (three miles, 110 yards)

Frenchman's Creek came with a late run to land the William Hill Chase for trainer Hugh Morrison.

Jockey Paul Carberry timed his charge to perfection to overhaul long-time leader Carbury Cross on the run-in.

Ruby Walsh finished 13 lengths third on Ad Hoc with the Martin Pipe-trained You're Agoodun placed fourth.

Favourite Gunther McBride had taken the runners through the first circuit before Carbury Cross began to stretch the field.

His lead extended to more than eight lengths at one point before he began to tire in the closing stages.

That was the cue for Frenchman's Creek to pounce.

The eight-year-old closed in on the Jonjo O'Neill-trained Carbury Cross over the last.

And he outpaced him on the run in to score by three lengths, adding victory to the Champion Hurdle second Morrison had earlier claimed with Marble Arch.

Full result 1555

1. Frenchman's Creek (P Carberry) 8-1
2. Carbury Cross (L Cooper) 25-1
3. Ad Hoc (R Walsh) 7-1
4. You're Agoodun (JR Kavanagh) 20-1
Fav: Gunther McBride 4-1 (6th)

1515 - Smurfit Champion Hurdle Challenge Trophy (two miles, 110 yards)

Hors La Loi III won a dramatic Champion Hurdle after favourites Istabraq and Valiramix failed to finish.

Dean Gallagher's mount was second two years ago and this time came through to triumph by three lengths.

Marble Arch was second under Ruby Walsh and French raider Bilboa third.

Dean Gallagher takes the Champion Hurdle salute

But the real talking points were the fates of Istabraq and, tragically, Valiramix.

The champion's tilt at history by becoming the first four-time winner of the race ended in disappointment.

Struggling early on, Istabraq was pulled up last after just two fences.

That left Valiramix looking set fair for victory, travelling smoothly just behind the leaders.

But disaster struck coming down the home straight.

Tony McCoy's mount appeared to clip the heels of Ansar and fell heavily on the flat.

The champion jockey returned to the weighing room in tears as his mount had to be destroyed.

But Hors La Loi III steered clear of trouble, and jumped clear to drive home from outsider Marble Arch.

Full result 1515

1. Hor La Loi III (D Gallagher) 10-1
2. Marble Arch (R Walsh) 25-1
3. Bilboa (T Doumen) 14-1
Fav: Istabraq 2-1 (pulled up)

1435 - Irish Independent Arkle Challenge Trophy Chase (two miles):

Moscow Flyer made it two out of two for Ireland on the first day of the Festival when he scored a convincing victory in the Arkle.

He ran away from favourite Seebald up the Cheltenham hill to win by four lengths.

Martin Pipe's Seebald was beaten in the Arkle

Armaturk stayed on to finish a distant third, 13 lengths back.

Barry Geraghty's mount was prominent throughout the second half of the race after Il'Athou and then Armaturk had set the early pace.

Moscow Flyer took the lead going round the final turn and put in a huge leap at the last.

Seebald - owned by footballers Steve McManaman and Robbie Fowler - switched wide but could make no impression on the winner.

Full result 1435

1. Moscow Flyer (BJ Geraghty) 11-2
2. Seebald (AP McCoy) 5-2 Fav
3. Armaturk (TJ Murphy) 8-1

1400 - The Gerrard Supreme Novices' Hurdle (two miles, 110 yards):

Favourite backers got off to a flying start when Irish banker Like-A-Butterfly won the Cheltenham Festival opener.

Charlie Swan guided the much-fancied raider to a neck victory over second favourite Westender.

In Contrast finished third with Eternal Spring fourth.

Charlie Swan celebrates Like-A-Butterfly's win

Westender, ridden by champion jockey Tony McCoy, made most of the early running.

But Like-A-Butterfly was always travelling smoothly and hit the front as the field turned into the home straight.

The JP McManus-owned eight-year-old had to work hard for victory though.

Adamant Approach looked set to overtake him at the last but fell heavily at the final obstacle.

Westender and In Contrast then came to challenge coming up the hill but Like-A-Butterfly held out for a popular opening win.

Full result 1400

1. Like-A-Butterfly (CF Swan) 7-4 Fav
2. Westender (AP McCoy) 6-1
3. In Contrast (R Johnson) 16-1
4. Eternal Spring (D Gallagher) 12-1