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Sailing yacht A seized in Gibraltar

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The 142.8m S/Y A, the largest private sailing yacht in the world, has been seized in Gibraltar for a 15.3 million-euro claim filed by Nobiskrug, the German shipyard where it was built, according to a news report on YachtHarbor.com.

The vessel left Kiel on Feb. 5 for sea trials in Spain. Her delivery was scheduled for late spring. It was anchored in the Bay of Gibraltar on Feb. 18 under the custody of admiralty marshals, YachtHarbor.com reported.

Nobiskrug claims that the final 9.8 million-euro installment was not paid by Valla Yachts Limited, the company that owns S/Y A. A further 5.5 million euros are being claimed by the shipyard over liability for sub-contractor invoices and disputed orders during the build.

The owner put the money in escrow pending resolution of the claims, according to a statement from a spokesman for the owner.

“We find this act of arrest of Sailing Yacht A in Gibraltar an astounding act for a shipbuilder of Nobiskrug’s standing,” the spokesman said. “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 Feb. 5 to the owner’s project team for further works to be carried out in Spain.”

The spokesman expected the arrest to be cleared up within days.

To read the whole story, click here.

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One thought on “Sailing yacht A seized in Gibraltar

  1. Jeffrey Finucci

    In 1984 I was working in Boston Shipyard East Boston received the USS connole for lack of payment the US Navy they came in with the marshals three days later where we surrendered the ship and the yard went under bankrupt

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