LPE in Portugal goes bust ?

Here's the NOR - or equivalent anyway. It does seem that it was a Laser event, not an International ILCA event.

https://www.olimpiyatkomitesi.org.tr/Upload/Oran_2022/Yelken_Technical.pdf

I spotted no mention of 'International' or ILCA in the document. Competitors had to supply their own sails, I wonder what logos were in evidence? I had a very quick look for photos but found nothing. Technically, I suppose, ILCA branded sails might have been illegal.

I believe there have been other 'minor' WS supported events that have used classes without International status. So I'm guessing that while it all looks very strange, there's probably not anything in the precise letter of WS regulations that has been broken. WS doesn't appear to have actively banned 'TheLaserClass', just denied it International status. And that's probably right. I'm not sure it's World Sailing's business to police classes that are not under the WS banner. Bad enough that they stop them calling their intergalactic championships Worlds.


Edited by JimC - 14 Jul 22 at 4:54am

There latest Facebook post - do you think they mentioned Laser enough and interesting spin

I found this.

https://www.einforma.pt/servlet/app/portal/ENTP/prod/ETIQUETA_EMPRESA/nif/515433764/

Your guess is as good as mine as to the fine detail, but it may mean very little. Its not hard to imagine the company appearing dubious financially, after all that fine new factory must have cost a fortune, no matter what grants they secured. Knowing, as I do, almost nothing about UK company affairs, let alone Portugal, it would be foolish to draw conclusions.

There's no reason why the Rastegar organisation shouldn't be as well versed in European law as US. The man himself was an exact contemporary of mine at the same college in London, although I don't recall ever meeting him.

Originally posted by turnturtle AIUI - some v. wealthy people use debt-laden companies to help write off personal tax exposure - it kind of doesn’t matter what the company trades. They’d have to be quite unlucky to get their fingers burnt with such a stroll in the park, especially when the wealth management experts claim it’s nothing but plain sailing for optimising tax contributions