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Sail-World.com : America's Cup legal action continues after the Match - Updated
America's Cup legal action continues after the Match - Updated
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Two legal actions initiated before the start of the 33rd America's Cup are still ongoing, despite the winning of the trophy by BMW Oracle Racing in mid-February.
The Breach of Fiduciary Duty action leveled at the Defender, Societe Nautique de Geneve, and Alinghi team boss, Ernesto Bertarelli is due to have a response to the action lodged by the Challenger, Golden Gate Yacht Club by 8 March.
The second action relating to Constructed in Country issues, specifically that Alinghi 5 should not have been allowed to use sails built in Minden, Nevada is due back in the New York Supreme Court on 10 March.
Both actions could be wiped if the parties agreed on a basis of settlement before these dates, an issue that Sail-World has been advised is 'under discussion'.
At the final Media Conference for the 33rd America's Cup, both side were asked their position on the Court actions. Both Ernesto Bertarelli and skipper, Brad Butterworth, made it plain that they would not be entering the 34th America's Cup while they were being sued by the new Defender.
When questioned on the point as to whether the lawsuits would be dropped, having just won the America's Cup, team founder, Larry Ellison was asked whether the lawsuits would be dropped, to which he responded: 'The only thing we ever wanted was to meet Alinghi on the water under a fair set of rules and that's what we got today, and we're extremely happy.'
There has been no further comment on the so-called 'mutiny' aboard the Race Committee boat just prior to the start of the final race of the 33rd America's Cup.
In a parallel story, Joanne Blad writing for ArabianBusiness.com reports that Ras al Khaimah had not spent the $120million earlier reported on facilities and quoted in media releases by SNG:
Khater Massaad, CEO of RAK Investment Authority (RAKIA), also said the amount invested by the emirate to overhaul its infrastructure ahead of the race fell far short of the reported $120m, and that its partner in the bid, Swiss racing syndicate Alinghi, had refunded $5m of the state’s costs.
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by Richard Gladwell
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http://www.sail-world.com/index.cfm?nid=66985
8:15 AM Thu 4 Mar 2010 GMT
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