“Money is the solution” might not be the solution for everything. However, it’s the solution for Russian billionaire Andrei Melnichenko to release his Sailing Yacht A.
On 15th February 2017, Sailing Yacht A was arrested in Gibraltar, her first port of call after Kristiansand, on the claims of overdue invoices from the shipyard and subcontractors total claims amounts to near €15,3 million plus interest.
The spokesman later said that they were confident the arrest will be terminated in the coming days and that this unfortunate episode will be over.
“We find this act of arrest of Sailing Yacht A in Gibraltar an astounding act for a shipbuilder of Nobiskrug’s standing. The facts are that with a project of this magnitude there are sometimes outstanding issues to be resolved, and the sum of over 9 million Euros being claimed for payment, by 27th January, was part of ongoing discussions between the Owner and the shipyard in regards to their rectification. We assumed the matter was progressing to a resolution as Nobiskrug were happy to release the yacht on February 5th to the Owner’s project team for further works to be carried out in Spain. The money was paid by the owner the following day into an Escrow account pending a resolution of the discussions. All monies now being claimed are in arbitration and we understand these disputes fall under arbitration in the UK courts”
It’s been an about a week from the time the Sailing Yacht A got seized until now, the Owner Russian billionaire Andrei Melnichenko confirmed that the judge approved the order for a security to release the yacht and it will leave Gibraltar soon, according to yacht harbour.
What a relief!
Should Mr Melnichenko be more released when the vessel hand over in late Spring 2017 after further fit-out works and sea trials in Spain?
Sailing Yacht A Specs:
- The 142.8m Salling Yacht A was first announced in August 2015
- Masts taller than Big Ben at nearly 100 meters in height
- Exterior Design: Philippe Starck and Dölker & Voges
- Naval architecture: Dykstra & Partners
- Interior decoration: Philippe Starck
- Top Speed/cruising speed: 21 Knot/16kn
- The vessel features a unique underwater observation pod in the keel with 30cm-thick glass.She is the largest sailing yachts ever built.
