Conflict Over Super Yacht Release

The super yacht S/Y a having been seized by the Bay of Gibraltar has brought much interest and intrigue in the sailing world. Indeed, the fact that the shipbuilding yard released the vessel only to get it seized and arrested does raise questions.

This is also sounded in the words of the owner that have been released in public media through his representative. These words show surprise in the way the shipbuilder has acted, especially a company that has a standing and reputation like Nobiskrug. The arrest of this sailing yacht is being viewed with disappointment by the customer.

It is to be expected that there would be outstanding payments for a project of such magnitude. The spokesman told Split Yachting that the remaining payment was part of ongoing discussions and so were the additional payments being considered. The matter was near a resolution and the shipyard had released the yacht on February 5th to allow the project team of the owner to carry on further works in Spain.

The spokesman even stated that the remaining payments had been released and was lying in an Escrow account; to be released as all discussions would reach a resolution. However, with a legal case launched, the matter now lies in arbitration. Hence, only when an agreement is reached will the claims be cleared.

Also the dispute now falls in UK courts and hence, arbitration procedures need to be initialized. The sailing yacht A has been in the news before as well when it was purchased and sent over to the shipbuilding yard for changes and modifications. It has masts whose length are taller than Big Ben, going above hundred meters and capability of speed is 20 knots without using sails which was found in the sea trials held. The gigantic vessel has several other unique features that will unfold after the disputes are over and it is ready to sail the open seas.