Those of you who have been following the affair of the 33rd Protocol carefully, will remember that America's Cup Management (ACM) had referred the validity of Club Nautico Español de Vela (CNEV) (the Challenger of Record disputed by the Golden Gate Yacht Club (GGYC)) - to the Arbitration Panel set up by ACM to adjudicate over the 33rd America's Cup.
Whatever you thought about that, and GGYC didn't think much, the Arbitration Panel has just come to a decision. This is the ACM press release on the matter, which you can read here.
'This afternoon, the Arbitration Panel reached a decision on the ACAP 33/01 case, in the matter of the Protocol governing the 33rd America’s Cup and in the matter of an application filed by SNG on July 20, 2007 in respect of the validity of the challenge of Club Nautico Español de Vela (“CNEV”) for the 33rd America’s Cup. In compliance with directions from the Arbitration Panel, the full document will be made available from this website Monday September 10, but it the meantime this is the summary of the decision:
“[162] The decision of the Panel is the following:
The Panel (i) has the competence to rule on its own jurisdiction and (ii) also has jurisdiction to rule on the present matter;
The challenge for the 33rd America’s Cup made by CNEV on July 3, 2007 (i) is a valid challenge entitling CNEV to challenge for the America’s Cup as Challenger of Record and (ii) SNG is obligated to accept (as it was the first valid challenge it received);
The Protocol signed by SNG and CNEV on July 3, 2007 complies with the Deed of Gift; and
Although this does not affect the compliance of the existing Protocol with the Deed of Gift, the Panel believes that SNG and CNEV should consider amending the Protocol in respect of some of its provisions as stated in point points [155] and [156]."'
It will be interesting to see what changes the Panel have proposed in points 155 and 156. I guess we get to see that on Monday - will it be enough to keep GGYC happy? That's also the day when the action opens in Justice Cahn's court...
www.markchisnell.com
Mark Chisnell ©
Whatever you thought about that, and GGYC didn't think much, the Arbitration Panel has just come to a decision. This is the ACM press release on the matter, which you can read here.
'This afternoon, the Arbitration Panel reached a decision on the ACAP 33/01 case, in the matter of the Protocol governing the 33rd America’s Cup and in the matter of an application filed by SNG on July 20, 2007 in respect of the validity of the challenge of Club Nautico Español de Vela (“CNEV”) for the 33rd America’s Cup. In compliance with directions from the Arbitration Panel, the full document will be made available from this website Monday September 10, but it the meantime this is the summary of the decision:
“[162] The decision of the Panel is the following:
The Panel (i) has the competence to rule on its own jurisdiction and (ii) also has jurisdiction to rule on the present matter;
The challenge for the 33rd America’s Cup made by CNEV on July 3, 2007 (i) is a valid challenge entitling CNEV to challenge for the America’s Cup as Challenger of Record and (ii) SNG is obligated to accept (as it was the first valid challenge it received);
The Protocol signed by SNG and CNEV on July 3, 2007 complies with the Deed of Gift; and
Although this does not affect the compliance of the existing Protocol with the Deed of Gift, the Panel believes that SNG and CNEV should consider amending the Protocol in respect of some of its provisions as stated in point points [155] and [156]."'
It will be interesting to see what changes the Panel have proposed in points 155 and 156. I guess we get to see that on Monday - will it be enough to keep GGYC happy? That's also the day when the action opens in Justice Cahn's court...
www.markchisnell.com
Mark Chisnell ©