Work on Wynyard Quarter America's Cup venue on track and under budgetA High Court judge has reserved his decision on whether a confidential draft audit report on finances for the America’s Cup event, should be made public. Team New Zealand and its event arm America’s Cup Event Limited (ACE) argued in the court in Auckland that the report was confidential and not finished, and that once the “genie was let out of the bottle, there is no putting it back”. “All that’s being withheld is a damaging allegation, its not a fact,” ACE’s lawyer Davey Salmon told the court. READ MORE:* America's Cup allegations: High Court to consider release of sensitive report* America's Cup: NZ's past hosting success should not be forgotten amid latest inquiry* America's Cup inquiry: High-profile event managers named as 'whistleblowers'Team New Zealand does not want confidential information released, including team salaries which would be valuable for rivals who may try to poach staff after the March regatta. MBIE has paid $29m already, but with the support of Team New Zealand announced further progress payments would be suspended until the financial concerns had been resolved.

Source: Stuff July 06, 2020 05:26 UTC