The AC 37 has started, news and rumours

[dg_sailingfan]

Looks so, indeed. Even political parties can be Ltd.s in GB. Absolutely unthinkable in other countries, but each to their own. In this light, nothing is special about a YC.

But in accepting RYSR Ltd ETNZ/RNZYS have opened up themselves to a possible Legal Challenge.

 

[IPLore]

I'm afraid "Yacht Club" is not a registered legal status in the UK, you need a registered legal entity to hold assets, like say, a rather large castle in cowes, or get a bank account to fund, say, an AC campaign. They could be a charity, but that holds a heap of legislation around what you can or can't do. Thus you instead register a company.

If it helps ease your mind, the registered name is now ROYAL YACHT SQUADRON LTD

Cross posted....Jon has described it pefectly

Im not sure that RYS would have great success establishing itself as a charity.  Yes, a club can establish itself as an unincorporated  organization in the UK. This would mean that the members would be jointly and severally responsible for all the debts of the club.  This would be foolish for a club which owned the real estate assets, staff and revenue of a club like RYS.....it would be downright dangerous for a club which challenged for the AC. 

There you are as an ordinary member of the club, sitting on the lawn enjoying a nice cup of tea and totally disinterested in what is going on in Auckland, when the waiter comes up and presents you with the chit for your tea and a $50,000 invoice for your share of legal fees. Members are entitled to limited liability.

 

[IPLore]

But in accepting RYSR Ltd ETNZ/RNZYS have opened up themselves to a possible Legal Challenge.

What would be the basis of the challenge?

I do not think there is one.  A club can have limited liability and be an incorporated organization (Most of them are)

This was all started by @Editor as a diversion.  Dont believe everything you read

 

[JALhazmat]

Its how the AC works. Every cycle should exhaust all resource, if winning the AC is what the goal is. If you get to the end of the campaign, and you lost, yet you have a few million left, why did you not spend that money on the campaign? Its a cliche in the AC, but one that rings true, and Grant Simmer and Grant Dalton - 2 successful CEO's - have both said it multiple times, "if you manage your campaign well, you should run out of money at the same time you run out of time. Every cent should be allocated to the campaign, otherwise you've mis managed your campaign. 

Indeed of the budget you are allocated that makes perfect sense. 
 

failing to secure support that clicks in from those loyal sponsors immediately after successful defence is not good management however. 

 

[Forourselves]

Indeed of the budget you are allocated that makes perfect sense. 
 

failing to secure support that clicks in from those loyal sponsors immediately after successful defence is not good management however. 

It always happens. Dalton always manages to secure sponsorship money every time, or at least a Government contribution to retain key members, as he has this time.

 

[arneelof]

For the good of the Cup INEOS should withdraw as CoR. Wrong CoR at the wrong time. I hope the New York Yacht Club takes this to the Court because the Royal Yacht Squadron Racing Ltd. is inegible to Challenge.

Alinghi is also out (and most likely any nation with icy winters if the AC36 rules are maintained).

 

[MR.CLEAN]

This was all started by @Editor as a diversion.  Dont believe everything you read

Careful, IPL. Every bad opinion started as a bad assumption. 

 

[Rennmaus]

What would be the basis of the challenge?

I do not think there is one.  A club can have limited liability and be an incorporated organization (Most of them are)

This was all started by @Editor as a diversion.  Dont believe everything you read

Even the DoG asks for incorporation among other means to prove legitimacy:

Any organized Yacht Club of a foreign country, incorporated, patented, or licensed by the legislature, admiralty, or other executive department, having (...) , shall always be entitled to the right of sailing a match of this Cup, (...)

 

[IPLore]

Careful, IPL. Every bad opinion started as a bad assumption. 

?   

I merely meant that Scooter started a thread somewhere where someone suggested that the limited liability structure was not valid as a challenger. As I recall (on an unreliable memory) it wasnt scoot's own thesis but he republished it.

Bottom line is that most clubs of repute in the US and elsewhere are incorporated entities.

 

[dg_sailingfan]

I think the Relationship with Matteo de Nora/Sir Jim Ratcliffe could end up very bad. Two Power Hungry Individuals!

 

[IPLore]

Even the DoG asks for incorporation among other means to prove legitimacy:

Good spot Renny.  You gotta love the historic language when clubs could be established by "Letters patent" .  I believe that not for profit organizations in Canada can still be established this way (but not sure ).  I expect RYS was probably established under letters patent when it first became a "Royal" club. But it is now certainly an incorporated entity.

 

[IPLore]

I think the Relationship with Matteo de Nora/Sir Jim Ratcliffe could end up very bad. Two Power Hungry Individuals!

Is Matteo hard to get along with?

By all accounts Jim is easy to get along with .

 

[dg_sailingfan]

Is Matteo hard to get along with?

By all accounts Jim is easy to get along with .

Well, INEOS & ETNZ also have Ben & Grant and these two have long standing Relationship dating back to ETNZ's 2007 Cup Challenge. If it gets too heated between Matteo & Jim Ben/Grant will probably speak some common sense to them.

 

[Stingray~]

Big sidetrack but I intend to cancel (for now) my NZ Herald subscription. I realize that NZ’s country code is 64 but how, from on a mobile in the US, do you dial this number correctly, please? 
 

Thank you for your request to cancel your subscription to Digital Entitlement,  however we are unable to process cancellations received via email so please call our administration team on 0800 111 500.

 

[IPLore]

Well, INEOS & ETNZ also have Ben & Grant and these two have long standing Relationship dating back to ETNZ's 2007 Cup Challenge. If it gets too heated between Matteo & Jim Ben/Grant will probably speak some common sense to them.

I really have no idea what interaction you are suggesting between Jim and Matteo. 

  Jim will approve his AC leadership team and delegate the drafting of the protocol and is most unlikely to get involved.  

If there is friction during the drafting of the protocol, Ben would not necessarily be your first choice as a a mediator.

 

[atwinda]

Big sidetrack but I intend to cancel (for now) my NZ Herald subscription. I realize that NZ’s country code is 64 but how, from on a mobile in the US, do you dial this number correctly, please? 
 

Thank you for your request to cancel your subscription to Digital Entitlement,  however we are unable to process cancellations received via email so please call our administration team on 0800 111 500.

*I think* +64 0800 111 500

 

[Stingray~]

*I think* +64 0800 111 500

Thanks, that worked without the first 0. All good!

 

[Editor]

What would be the basis of the challenge?

I do not think there is one.  A club can have limited liability and be an incorporated organization (Most of them are)

This was all started by @Editor as a diversion.  Dont believe everything you read

Diversion? Are you high?

 

[strider470]

Big sidetrack but I intend to cancel (for now) my NZ Herald subscription. I realize that NZ’s country code is 64 but how, from on a mobile in the US, do you dial this number correctly, please? 
 

Thank you for your request to cancel your subscription to Digital Entitlement,  however we are unable to process cancellations received via email so please call our administration team on 0800 111 500.

I've had the same problem!!!! Eventually, I asked a Kiwi friend to call them on the phone and he had to try many times! That's absurd. I wrote them a letter of complaint on the subject. Unsubscribing should be doable with a mouse click!!

 

[Priscilla]

If you check the RNYZS page you'll see them listed as RNYZS Inc, and their clubhouse (or at least the land) is owned by Royal New Zealand Yacht Squadron Nominees Ltd (as in the nominated holding company for the asset). All of which is public record.

From memory the RNZYS only owns their clubhouse building but leases the land as it is secured in perpetual public ownership after the Westhaven Marina was sold to the Government and ownership then passed to the Auckland City Council in 2004.