In what was reportedly the first such auction since the start of the war in Ukraine in late February, a massive luxury boat worth $75 million that was tied to a Russian steel tycoon and was the subject of sanctions against Moscow was auctioned off on Tuesday in Gibraltar.
The Axioma yacht was confiscated by Gibraltar in March after US bank JPMorgan claimed that its purported owner, Dmitri Bombiansky, had broken the terms of a $20 million loan.
The Gibraltar Maritime Court put the 72, according to a spokesperson.
a closed bidding process for a 5-meter sailboat that must be submitted electronically by Tuesday noon.
Nigel Holler, the auction director and a broker with the Gibraltar High Court, told the Guardian last week that there has been an unexpected rise in the number of prospective purchasers for this yacht recently from all over the world.
The boat has six cabins that can seat up to 12 people and is equipped with a swimming pool, Jacuzzi, 3D theatre, and water sports.
JP Morgan lent 20. 5 million euros to Verdberg Holdings Ltd., the owner of the BVI-listed Berrin Investments Ltd, according to court documents obtained by Reuters. Verdberg’s owner and surety was Bombiansky.
The loan’s terms were allegedly broken by Beren Investments after Bombiansky transferred his Werdberg shares to a third party on March 4 and imposed penalties. This precluded the loan from being repaid, according to the documents.
Sanctions have been placed on the 58-year-old, whose net worth is estimated to be $2 billion by Forbes magazine, by Britain and the European Union.
Pompeiansky, who served as the owner and board chairman of the steel pipe manufacturer OAO-TMK, a supplier to the Russian energy giant Gazprom, until March, has resigned, according to the business.
Since the West imposed sanctions on Russians close to Russian President Vladimir Putin, this is the first expensive yacht to be confiscated and known to have been sold at auction.
Reuters was informed by sources close to the deal that JP Morgan would only receive its 20.5% due and that any additional proceeds from the sale would be distributed according to court order.
A beautiful boat belonging to a Russian billionaire is auctioned off for $75 million.
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