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Last Updated: Friday, 3 December, 2004, 12:42 GMT
Yachtswoman pays her 'loyal' crew
The female crew who helped round-the-world yachtswoman Tracy Edwards MBE secure her place in history will receive their wages after two years.

Ms Edwards will use the proceeds from the sale of the Maiden II - the 110ft catamaran she bought in 2002 - to settle up with the crew.

She bought the yacht, Maiden II, with loans she has partly paid off.

A court ruled on Thursday the Berkshire sailor still faced bankruptcy if she did not pay off 110,000 outstanding.

She has until 15 December to pay the money borrowed from her former manager Mark Wilson, who took her to court.

Bankruptcy petition

She has already settled a 500,000 debt after a court battle with businessman Andrew Pindar.

Ms Edwards, 42, said: "I am absolutely delighted and relieved that I can now pay back all the wonderful people who have kept us going for the past two years, especially the crew of Maiden II.

"I am also pleased that the financial disputes are being solved and would like to thank each of my creditors for their continued support and patience throughout this difficult period.

"There is a substantial number of people involved. I could not tell you off the top of my head exactly how many.

"Of all the money that was owed, only two took legal action. All the rest knew they would be repaid."

Newbury County Court ruled on Thursday that Mr Wilson would be entitled to serve a bankruptcy petition on the yachting heroine if his cash was not reimbursed by 15 December.

Ms Edwards is currently promoting the non-stop around-the-globe Oryx Quest 2005 sailing race, scheduled to start in Doha, Qatar, on 5 February, 2005, for which she has secured 38m in sponsorship.




SEE ALSO:
Yachting heroine must repay loan
02 Dec 04 |  Berkshire
Yachtswoman banned from driving
22 Apr 04 |  Wiltshire
Edwards unveils plans
30 Jan 04 |  Other Sports
Edwards eyes Jules Verne mark
14 Oct 03 |  Other Sports


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