I found another news report from Sail-world.com, and they have a little chartlet that shows that he hit Moore Reef, a charted reef. He says his charts didn't show it. Right! Otherwise, it's pretty much a repeat of the news linked above.
I am a bit curious, though, that Yachting World magazine reported Asolare
as entered into the ARC in 2004, yet both news reports indicate that the boat was launched in 2007. I wonder if there's some confusion with the start of the ARC World rally, which started November, 2007. Imagine, 2/3s of the way around the world in 9 months! Maybe they were just tired.
Addition: Take a look at this entry to their ARC World log: http://www.asolare.co.uk/arclog_page16.html
Before this, they had had two shackles fail. This time, "the lashing that attaches the top of the Genoa to the halyard failed" LASHING?! Not a splice? Oh, no!
(maybe I'm just cranky today)