On or about March 14th, 2006, Island Global Yachting Ltd. commenced civil action against defendants, Poole Capital S.A., Andrew J. Baker, Peter Doran and Brian R.M. Pearce (whom we the people know as Bru Pearce) in the Supreme Court of the State of New York, County of New York, Index No. 600881-2006. Plaintiff, Island Global Yachting Ltd., took action against the defendants for fraud, breach of confidentiality agreement and breach of an exclusivity agreement.