The request for a Special General Meeting of the Royal New Zealand Yacht Sqaudron, lodged by Jim Farmer QC, has been withdrawn.
The SGM was to take place on the 9 December. That meeting is now cancelled.
The withdraw and cancellation follows on media reports of action by ETNZ CEO Grant Dalton to contact signatories of the requisition, claiming that Team New Zealand could be put into liquidation if the motion was passed.
Some RNZYS members then decided to withdraw their support.
RNZYS members can still raise these issues during the Annual General Meeting, which will take place on 9 December.
But for the present Grant Dalton has got his way and Team NZ will continue with their venue negotiations with overseas venues, the result to be announced on 31 March 2022.
The Withdraw Statement:
STATEMENT BY JIM FARMER QC AS TO WITHDRAWAL OF REQUISITIONS FOR SPECIAL GENERAL MEETING OF THE ROYAL NEW ZEALAND YACHT SQUADRON FOR 9 DECEMBER 2021
On behalf of 34 RNZYS members I presented a requisition for a Special General Meeting of the RNZYS to consider a motion that the objects of the RNZYS Rules be amended to add an objective that Defences of the America’s Cup, when held by the Squadron, would take place in Auckland. The Officers of the Squadron appointed 9 December 2021 for that Meeting, notwithstanding that because of Covid restrictions the numbers able to attend physically and participate in the discussion at that time are limited to 200 spread over 2 rooms, with others required to view by Zoom (but unable to voice their views).
Team NZ has fixed 31 March 2022 as the date by which it will announce the Venue. The NZ Herald last Saturday reported that Grant Dalton had been calling RNZYS members who had signed the Requisition and persuaded some of them to withdraw their signatures on the basis that if the Motion was passed Team New Zealand would be put into liquidation and the Squadron would be left without a team to continue a defence. A copy of the Herald article can be found by following this link. Given that position, I felt it incumbent on me as the representative of those members who had signed the Requisition in good faith to go back to them and advise them that, in my view, there was a real prospect that the SGM would be undermined by the threats made.
That communication has taken place and I have their authority to withdraw the requisition, which I have done by letter this morning to the Commodore. A copy of that letter is attached to this statement. Efforts to maintain the Defence of the America’s Cup in Auckland will continue unabated and in particular Team NZ will continue to be challenged to justify its position that the funding of the Event here is not viable.
Jim Farmer QC
6 December 2021