sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery

 

Sail-World.com : America's Cup Legal settlement unshackles the next Match

America's Cup Legal settlement unshackles the next Match

'Golden Gate YC can now look ahead to planning the 34th Match for the America’s Cup'    BMW Oracle Racing © Photo Gilles Martin-Raget    Click Here to view large photo

All litigation in the 33rd America's Cup has been discontinued, following an acceptance of an agreement announced between the four parties today.

The dropping of the litigation will allow the formal handover of the various properties associated with the America's Cup and which are held by the Defender, in its joint role of Trustee of the America's Cup to which the custodianship of the trophy and the organization of the next Match is enshrined in the 19th century Deed of Gift which governs the event.

USA Victory Tour - Day 1 - Leaving Valencia -  BMW Oracle Racing © Photo Gilles?nid=67850 Martin-Raget   Click Here to view large photo
After losing the trophy in over four weeks ago, Societe Nautique de Geneve and Team Alinghi apparently did not execute the necessary documents, even though the trophy itself was handed over to the new winner, Golden Gate Yacht Club and BMW Oracle Racing, immediately after the finish of the second race in what was known as a Deed of Gift Match between two multihulls, each over 110ft long

It is believed that the Swiss club would not complete the transition process while it was under threat of litigation by the new Trustee. Had SNG defended the America's Cup in Valencia, it was expected that the legal action which had dogged the event since July 2007 would have continued and effectively frozen out all other competitors until its resolution.

The Challenger, Golden Gate Yacht Club, proved to be an easy winner in that Match which had been punctuated by numerous legal actions, mostly initiated by Golden Gate Yacht Club as they sought to protect their rights as Challenger, and to prevent SNG from exceeding their rights as Defender, in the yacht design and construction, and conduct of event.

Of some 14 points of litigation raised by the Challenger only one was decided in favour of the Defender - a decision that allowed the use of engines in place of manual power on board the yachts - a decision which arguably, eventually favoured BMW Oracle Racing as it allowed the US team to better use their 70metre wingsail - widely regarded as the determining factor in the performance of the two yachts.

Elimination of grinders by allowing engine power was the only Court decision won by Alinghi - but allowed the full potential of the wingsail to be realized -  BMW Oracle Racing © Photo Gilles?nid=67850 Martin-Raget   Click Here to view large photo

At the time of the America's Cup being sailed there were still three actions in front of the New York Supreme Court - two over Constructed in Country one lodged by each team, that the other's yacht was not in compliance with the CiC requirements of the Deed of Gift, and the third was a Breach of Fiduciary Duty action on the part of the Swiss holder of the America's Cup over their actions taken during the period from July 2007, which the Challenger did not believe were consistent with SNG's obligations under the Deed of Gift, which they had undertaken to uphold in an agreement which they had signed and executed with the Royal New Zealand Yacht Squadron, the previous holder of the America's Cup.

The settlement reached means that all parties will drop all legal actions and will carry their own legal costs.

The keypoints in the agreement include:


As USA crosses the finish Line, GGYC accept the Club Nautico di Roma as Challenger for the 34th America’s Cup -  BMW Oracle Racing © Photo Gilles?nid=67850 Martin-Raget   Click Here to view large photo
1. Transfer to GGYC of the pieces of the damaged Cup that SNG recovered in 2006 from different individuals in New Zealand.

2. Transfer of ACPI (America's Cup Properties Inc) to Golden Gate Yacht Club. ACPI is the body that holds the intellectual property rights and copyright of the items knowns as the 'America's Cup Marks'. being the America's Cup silhouette, the words 'America's Cup' and other similar properties all of which had to be licensed by the defender/Trustee before they could be used under threat of legal enforcement to prevent 'passing off' etc. these properties include the America's Cup website, www.americascup.com which was still under the control of SNG/Alinghi over a month after they had lost the trophy.

3. Transfer of a new entity, to GGYC, formed by SNG/Alinghi, and the Challengers at the end of the 31st America's Cup - The Cup Heritage Trustee Limited and for the resignation of a Director, Hamish Ross, Alinghi legal adviser and noted America's Cup historian.

4. Transfer of all race management equipment that was transferred to SNG by the Challengers for the 31st America's Cup in Auckland. This gear is expected to fill at least one shipping container.

5. Dropping of all pending litigation between the parties and notification of the New York Supreme Court of this step and the release of all claims against parties arising from the 31st, 32nd and 33rd America's Cups - this is believed to remove the threat of any action against the SNG parties arising from the Breach of Fiducial Duty action bought by Golden Gate Yacht Club, and the activities cited in that action covered not just the 33rd America's Cup but also the two preceding regattas.

Alinghi 5 finishes second in the final race of the 33rd America’s Cup as SNG’s Vice Commodore, Fred Meyer (stern in while jacket looks on). -  © Richard Gladwell?nid=67850   Click Here to view large photo

Not mentioned in the agreement is Report lodged by Principal Race Officer, for the 33rd Match, Harold Bennett, over the actions by some SNG appointed members of the Race Committee who refused to co-operate when Bennett decided to start the second race, against their wishes. That matter is still considered by the International Sailing Federation. Bennett would not comment on the record to Sail-World, three weeks ago, saying that he had said all that he was going to say and that as far as he was concerned the matter was 'dead and buried'.

The International Sailing Federation is not expected to take any further action against the individuals involved, none of whom were ISAF certified officials, however the opprobrium which they have brought upon themselves, and their club, will long remain, and is a greater penalty than anything that could be issued by the world body.

America’s Cup in San Diego - Russell Coutts - Larry Ellison -  BMW Oracle Racing © Photo Gilles?nid=67850 Martin-Raget   Click Here to view large photo

In a statement released by the San Francisco based, Golden Gate Yacht Club, the Commodore, Marcus Young said the Club was pleased to have reached agreement on the matter and BMW Oracle Racing CEO, Russell Coutts said the team looked forward to the 34th Match being the best ever in the history of the almost 160 year old event.

No statement has yet been announced by SNG or Team Alinghi, and it is not known whether they will participate in the next America's Cup, for which there is currently only one Challenger.

To view the signatures on the Settlement Agreement click here?nid=67850




by Richard Gladwell

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=67850

10:48 PM Fri 26 Mar 2010 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.

Click for further information on
2013 America's Cup

Related News Stories:

27 May 2014  America's Cup: Oracle Team USA under stress
23 May 2014  America's Cup: Oracle and Team NZ designers reveal AC72 secrets
22 May 2014  America's Cup: Artemis death verdict 'result of an human act'
10 May 2014  A year after the Artemis incident, the sailors tell of the pain
01 May 2014  America's Cup: Oracle and Team NZ tech insights - Free lecture tonight
16 Apr 2014  America's Cup: Expected de Ridder penalty should be reduced
14 Apr 2014  America's Cup: Dean Barker's Blog - A sail with the Duke and Duchess
12 Apr 2014  America's Cup: Coutts claims ISAF Jury on a crusade, backs Kiwi report
10 Apr 2014  America's Cup: Two Kiwis escape hometown action in AC45 rules ruckus
03 Apr 2014  34th America's Cup: A Match of three weeks - Part 3 - Under the Pump
MORE STORIES ...

News - USA and the World













International Moth Worlds - Mothballed on day 4 + Video by Mark Jardine / YachtsandYachting.com,




Gladwell's Line: A change of direction needed in the America's Cup *Feature by Richard Gladwell/Sail-World.com/nz,
























Anna Tunnicliffe set to compete at the CrossFit Games by Anna Tunnicliffe, Pittsburgh, PA
























Final day shakes up standings at Cape Panwa Hotel Phuket Raceweek by Cape Panwa Hotel Phuket Race Week 2014,


2014 -15 Volvo Ocean Race: Team Alvimedica pushing towards Southampton
NYYC Race Week - Saving the best for last
VX One North American Championship - Chris Alexander commands
2014 Cape Panwa Hotel Phuket Raceweek - Waiting game on Day 3
International Moth Worlds: Thunderstorms delay racing on Day 1
Fuerteventura World Cup - Impressive tricks on day 1
2014 Governor's Cup - Two former winners in the finals
America's Cup: Iain Murray explains reasons for Australian withdrawal *Feature
Wilson and Roble remain number one match racers in U.S.
2014 ISAF Youth Match Racing World Championship - Set to start
PWA Pozo World Cup - Moreno twins dominate home spot
ISAF Youth Worlds - Record breaking regatta in Tavira + Video
Melges 32 European Championship - Robertissima remains out front
Farr 40 West Coast Championship - Italians take one-point lead
Melges 32 European Championship - Day 3 images by Carlo Borlenghi
New York Yacht Club Race Week - Marstrom 32 fleet off to anxious start
Melges 32 European Championship - Day 3 images by Max Ranchi
CYC Race to Mackinac - Cruising fleet sets sail in 106th edition
Team Alvimedica getting a touchup
PWA Pozo World Cup - Plenty of drama on day 5
ISAF Youth Sailing World Championship - Day 5 Videos   
NYYC Race Week - High performance classes put on shoreside show   
2014 Pacific Cup - 'Invisible Hand' the first boat to finish   
Clipper Round the World Yacht Race - B.C.'s Eric Holden skippers wins   
America's Cup: Updates on Team Australia withdraw   
J/70 North American titles - Brian Keane moves to top of leaderboard   
2016-2017 America's Cup - Team Australia withdraws   
VX One North American Championship - Chris Alexander takes charge   
America's Cup: Team NZ disappointed, but on track after Australians go   
America's Cup: Hamilton Island decides not to proceed with Challenge.   
America's Cup: Challenger of Record withdraws from Regatta   
WWA Wakeboard National Championships head to Waco   
Farr 40 West Coast Championship - Day 2   
RP52 Scarlet Runner sails in San Francisco   
2014 Governor's Cup - Nevin Snow and team on form   
ISAF Youth Worlds - Americans claim silver medals in Tavira   
2014 Cape Panwa Hotel Phuket Raceweek - Day 1   
Melges 32 European Championship - Day 2 images by Carlo Borlenghi   
Windsurfing and Kiteboarding World Cup to take place on Fuerteventura   
ISAF Youth Worlds - Medals decided in thrilling Tavira conclusion   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL WAS US
LocalAds   DE  ES  FR  IT