THE SIDELINES : America’s Cup in Vault for Appeal

The America’s Cup, yacht racing’s top prize which was awarded to San Diego in an appeals court ruling last week, will remain in a New York bank, a court has ruled.

Joseph P. Sullivan, presiding justice of the Appellate Division of New York State Supreme Court, ordered that the Morgan Guaranty Trust Co. of New York, which is storing the America’s Cup in its Manhattan bank vault, hold the trophy for safekeeping.

Michael Fay of New Zealand, who is questioning the legality of the San Diego Yacht Club’s victory over his boat in the America’s Cup races last year, had asked that the New York Yacht Club have temporary custody of the Cup. Morgan Guaranty was asked to hold the Cup until the appellate court decides whether New Zealand has a further right to appeal.