Skip to main content

African-American syndicate withdraws request for America’s Cup injunction

African Diaspora Maritime Corp. withdrew its motion for a preliminary injunction to stop the America’s Cup.

New York Supreme Court Judge Barbara Kapnick last week ordered the motion permanently withdrawn per an agreement reached between African Diaspora Maritime and the Golden Gate Yacht Club, according to court filings. Neither side had any comment. The order says neither side waives any of its rights to pursue other legal action.

African Diaspora Maritime had asked Kapnick to order a stop to Cup racing while the African American syndicate’s complaint — that the yacht club did not act in good faith in rejecting its application to race against Oracle Team USA for the right to defend the Cup — plays out in court.

Kapnick ruled against African Diaspora Maritime in January. The Appellate Division of the New York Supreme Court breathed new life into the 1-1/2-year-old allegations June 25 when it upheld Kapnick’s dismissal of two counts against the yacht club — breach of trust and breach of fiduciary duty by self-dealing — but said there was an enforceable contract between the yacht club and African Diaspora Maritime and enough grist for the lower court to consider whether the yacht club acted in bad faith in its review of African Diaspora Maritime’s application.

That complaint remains active.

Related

1_ABA

ABA Celebrates 30 Years

The America Boatbuilders Association was founded in 1992 with the objective of collectively buying engines, raw materials and manufactured products at better prices.

1_YEARGIN

Who, Not How

Sometimes, to solve a tough problem, you need to get a different person in the room.

1_WHALESACTION

NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.

1_AXOPAR

Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.

1_IAN

Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.