Luxury yacht seized, alleged unpaid fees – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password

Luxury yacht seized, alleged unpaid fees

A Bermudian-registered mega yacht estimated to have cost €400 million (about $422 million) has been impounded in Gibraltar over allegations of unpaid fees.

According to the BBCSailing Yacht A, owned by Russian billionaire Andrey Melnichenko, is being held because the German builder of the vessel says he still owes €15.3 million in fees.

However, a spokesman for Mr Melnichenko told the BBC that they were confident the order would soon be lifted, calling the incident a “technical problem”.

The vessel, built by Nobiskrug, left the Kiel shipyard in northern Germany just two weeks ago.

It is described as being 143 metres (469ft) long with three masts, an underwater observation pod, hybrid diesel-electric propulsion and “state-of-the-art” navigation systems.

• On occasion The Royal Gazette may decide to not allow comments on what we consider to be a controversial or contentious story. As we are legally liable for any slanderous or defamatory comments made on our website, this move is for our protection as well as that of our readers.

Sailing Yacht A

You must be Registered or to post comment or to vote.

Published February 21, 2017 at 8:00 am (Updated February 21, 2017 at 12:39 pm)

Luxury yacht seized, alleged unpaid fees

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon