American yacht owner Michael Hirtenstein has sued his London-based lawyers after a yacht he bought, the 149-foot (45m) M/Y Candyscape, lost an engine an hour after closing the deal.
He bought the yacht in July 2010 for 4.5 million euros at what he thought was a steal, according to a news report in the UK’s The Independent newspaper.
The case has wound up in London’s High Court, where Hill Dickinson is being sued for not obtaining a guarantee over the condition of the yacht, the newspaper reported.
The yacht, now called M/Y Il Sole, has since had a $2.5 million refit and replacement of both engines.
According to the newspaper Hill Dickinson arranged the purchase and had assured Hirtenstein that it came with a personal guarantee. However, after a two-week hearing in August, a High Court judge ruled that no such guarantee existed.
While Hill Dickinson was liable for legal negligence, which the firm accepted, Hirtenstein was only awarded “nominal damages”. A hearing in October will determine what those costs are.
Hill Dickinson released this statement to the newspaper: “Hill Dickinson regrets that a mistake was made in this matter. The firm highlighted the error to the client as soon as it came to their attention and was satisfied that it had caused the client no loss. This position has been vindicated in the judgment.”