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New York Supreme Court Judge Barbara Kapnick last week ordered the motion permanently withdrawn per an agreement reached between African Diaspora Maritime and the Golden Gate Yacht Club, according to court filings.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. Thanks to Trade Only.
This is an action filed by Charles Kithcart against the Golden Gate Yacht Club, which had disqualified him and his organization from participating in the America’s Cup. Rightly so, the African Diaspora maritime Corp. has no money no crew, no boat and little hope of producing any of the afore mentioned required things.
I can often side with the underdog; however not in this case. For one time I believe that the right decision was made to disqualify the African Diaspora Maritime Corp.
