Alinghi drops court move

The Swiss America's Cup syndicate Team Alinghi has dropped plans to take court action to recover about $24,000 of council rates it says it was overcharged.

Alinghi has told the America's Cup Arbitration Panel it believes it can settle the dispute with America's Cup Village Ltd out of court.

Alinghi claimed Auckland City Council had overcharged it in 2000. The syndicate, backed by Ernesto Bertarelli, one of the world's wealthiest men, has occupied two bases off Halsey St, so pays higher rates than other challengers.

The council charges ACVL rates which are then billed to syndicates.

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