In New York, lawyers for Oracle and its sponsoring club, the Golden Gate Yacht Club, will argue that Bertarelli has violated the terms of the Deed of Gift governing the America's Cup.

FORBES: Billionaire Boat Battle

At the core of the dispute is the Deed of Gift, a 1, 200-word legal document penned in 1887 by George Schuyler, then the sole surviving member of the syndicate that first won the Cup.

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With no agreement on what type of boat to race, the Deed of Gift governing the Cup defaults to 90-foot boats of unlimited beam, or width.

FORBES: Ellison Bets On Pure Speed For Next America's Cup

Fay sued again, saying the catamaran violated the Deed of Gift, but he ultimately lost.

FORBES: Magazine Article

At that point Ellison began building a 90-foot trimaran, nicknamed "DoGZilla" because it complies with the default rules in the Deed of Gift.

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Ellison complained the Swiss yachtsman violated the Deed of Gift (or "DoG, " as it is known by sailors) by naming a patsy as Challenger of Record.

FORBES: Water Wars

But in a surprising turn, an appeals court two months later reversed the lower court, finding that the Deed of Gift didn't say what it appears to say.

FORBES: Water Wars

The court fight "is so Larry Ellison can race his decamillion-dollar trimaran in a Deed of Gift match that will have absolutely no participation by anybody, " says Barry Ostrager, the Simpson Thatcher lawyer representing Alinghi.

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