A superyacht thought to be one of the world’s largest has been impounded by the Gibraltar Port Authority, after claims that its Russian billionaire owner still owes a significant amount of money for its construction.
The €400 million “Sailing Yacht A” was on its way to be delivered to industrialist Andrey Melnichenko, who had commissioned its build, when it was compounded by the port authority following a lawsuit by the German shipbuilder Nobiskrug.
Gibraltar Admiralty marshal Liam Yeats confirmed that “the vessel is under arrest and is currently at anchor in British Gibraltar Territorial Waters.”
The shipbuilder claims that the oligarch, who is worth an estimated £10.75 billion, still owes £13 million for the construction of the £360 million ship.
The 143 metre long Bermuda-registered yacht has three masts taller than Big Ben’s clock tower and is more than 140 metres long. Nobiskrug’s managing director, Holger Kahl, said the yacht’s design was “Born from the desire of the owner to ‘push the boundaries of engineering and challenge the status quo of the industry”, and that “Sailing Yacht A is undoubtedly one of the most visionary projects Nobiskrug has ever been involved in.”
However, Nobiskrug chose to file a lawsuit against Melnichenko after seeking an outstanding payment of €9.8 million, as well as €5.5m for subcontractors and interest charges.
A spokesman for Melnichenko called the shipbuilder’s decision to file a lawsuit “an astounding act for a shipbuilder of Nobiskrug’s standing”.
He added that he had “every confidence” the mega yacht would be free to “leave Gibraltar for her next destination” shortly.