Golden Gate YC: Press Release
Appeal Strikes Two of Three ADM Claims
Appellate Division Ruling In ADM vs. GGYC
Dismissal of Most Claims Upheld, Contract Issues Remanded: Press Release
San Francisco, USA, June 25, 2013
Statement of Vice Commodore Tom Ehman GGYC America’s Cup Liaison
We are pleased to report that the Appellate Division of the New York Supreme Court ruled today on Golden Gate Yacht Club’s motion to dismiss Africa Diaspora Maritime’s lawsuit against GGYC.
The Appellate Division upheld the lower court’s decision dismissing ADM’s claims for breach of trust and breach of fiduciary duty.
It reversed the decision of the lower court on ADM’s breach of contract claim.
The issue before the court was a preliminary issue of whether the complaint – if true – states a cause of action.
A s the court noted, “whether the plaintiff can ultimately establish its claim is irrelevant at this juncture.”
Essentially the court ruled that the one remaining claim – breach of contract – presents factual issues that cannot be decided on a motion to dismiss.
GGYC looks forward to proving, in the appropriate forum at the appropriate time, that it acted in good faith and that ADM’s claims are meritless.
---From America's Cup Event Authority on behalf of Golden Gate YC
Additional Links:
See America's
Cup Teams for 2013
Inquiries please contact: