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Settlement funds megayacht moorings in the Caymans

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Compensation paid by Microsoft co-founder Paul Allen in a settlement over damaged coral reef in the Cayman Islands is being used for four new megayacht moorings, the first of which was installed off West Bay this week, according to the Cayman Compass.

Allen’s 300-foot yacht, the M/Y Tatoosh, was accused of dragging its anchor in strong winds through thousands of feet of protected coral off Seven Mile Beach in 2016. The yacht had been anchored at the time in a spot designated by the port authority. Scott Slaybaugh, deputy director of the Department of Environment, said a lack of secure moorings for megayachts around the Cayman Islands had contributed to the problem.

Read the full report here.

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