In the most recent of a flurry of activities over the last few days, the 33rd America's Cup Event Authority have disclosed that the recently nominated Arbitration Panel have reached their first decision, that Club Nautico Español de Vela (CNEV) are a legitimate Challenger of Record.
Full documentation has yet to be released which may or may not address a number is issues recently raised by GGYC in their action against SNG in the New York Supreme Court, a legal dispute still in its early days. The statement released by ACM today indicates that documentation will be available from ACM's website on Monday September 10th.
The full statement may be read upon ACM's website (Here), and is reproduced below:
Arbitration Panel confirms validity of CNEV07-09-2007
The statement appearing on ACM's website has been subsequently updated to read thus:
Arbitration Panel confirms CNEV as Challenger of Record08-09-2007
Yesterday evening, the Arbitration Panel reached a decision on the ACAP 33/01 case, in the matter of the validity of the challenge of Club Náutico Español de Vela (“CNEV”) for the 33rd America’s Cup.