| UK. Tracy Edwards "Who owes the prize money, who owns the boat?" answered |
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; "Doha 2006 - Photo Oryx Quest")
| Sunday, 18 September 2005 | |
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Marian Martin According to a report issued by Kroll, the Administrators of Quest International Sports Events Ltd, the beneficial owner of the catamaran Doha 2006, formerly Qatar 2006, formerly Maiden II, formerly Club Med is Tracy Edwards. In September 2004, Edwards announced in Doha that she had sold the maxi-catamaran and indicated, to the Daily Telegraph, that the sale was to Qatari interests. On December 3, 2004, Quest International Sports Events said in a press release: "Quest International Sports Events (QISE) today confirmed that Tracy Edwards has sold the multihull Maiden II and is repaying all her agreed outstanding personal debts with the proceeds of this sale and additional funds she raised from a personal sponsorship deal. Maiden II has been sold to an undisclosed owner for an undisclosed sum, but QISE can verify that sponsorship monies received for the Oryx Quest 2005 are not linked to Tracy's debt repayment in any way." Naming Edwards as "beneficial owner" implies that the maxicatamaran in probably owned by a company, in which Edwards is sole shareholder. That may be Maiden II International, a company based in Tortola, British Virgin Islands, since that company appears on the Administrators' list of Quest creditors, as being owed £277,777.77. That sum is approximately one half of the $1 million prize due to the winning boat in The Race and would thus be the amount due to the owner of the boat, since prize monies were to be split 50/50 between owner and crew. Team Daedalus (Tony Bullimore) is also listed as being owed £166,666.66 by Quest, but there is no mention of an additional sum of £277,777,77, which is owed to the crew of Doha 2005. Related articles $70 million was the real deal with Qatar Tracy Edwards "Who owes the prize money, who owns the boat?" answered Tracy Edwards: Quest creditor believes Arabs let her down Tracy Edwards & the Oryx Quest "Much has been destroyed by this" says Bruno Peyron DTI investigates Edwards companies; Administrator says "No conflict of interest" Those with pending court cases against Quest should register claim "Who owes the prize money?" "Who owns the boat?" asks Larsen; Bullimore won't talk "Yachtswoman Tracy Edwards declared bankrupt, debts could be £8 million |
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| Last Updated ( Sunday, 18 September 2005 ) |
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