America's Cup Dispute - In Ten Words or Less?

Sometimes details are important and fascinating to me, such as the time I joyfully spent evening after evening painstakingly removing each and every stray old paint droplet from the hardwood floors of my 100-year-old house using a bottle of Goof-Off and a Hello Kitty battery-operated toothbrush.

Sometimes, however, details are completely annoying to me and I can't stand the thought of dealing with them at all, such as with the ongoing America's Cup litigation. I mean, I already have a full-time job, thank you so very much. When it became clear that the issues weren't going to be quickly resolved, I tried to start following the story. I was pretty late to the party, though, so this was after several back-and-forth filings and arguments had taken place. I really want to understand it because I loves me some yacht racing and all. I just don't have the patience and level of interest required to embark on such an investigatory effort on my own. That's where you come in.

Would you, my loyal readers, - Hi Mom, Dad, Bro, and Kel ! - be willing to provide insight in a format that would hold the attention of someone who loves her some yacht racing but apparently does not hold the America's Cup dispute in quite the same regard as she holds paint splatters on an old hardwood floor?

By way of example, the movie Titanic can be summed up in ten words or less as follows:

"Boy meets girl meets iceberg; necklace found much, much later." *

Similary, One Flew Over the Cuckoo's Nest can be summarized like this:

"Crazies led by a crazy. Jack is brilliant. Sad ending." *

In a similar fashion, how would you summarize the America's Cup dispute? Please do so in the Comments of this post. It's okay if you go slightly over the requested ten word limit, but please don't get too carried away. Perhaps I'll award something from my personal sailing library or box o' boat stuff for the most fascinating and helpful summary! Thanks in advance for your help.

*examples from movieforums.com