High Court

Russian Businessman Loses Appeal Against UK Over Detained Superyacht

A wealthy Russian businessman on Friday lost a legal challenge against Britain over the detention of his $50 million superyacht.Sergei Naumenko's 58.5 metre yacht Phi was detained in London under the government's Russian sanctions in March 2022, the first time the regulations had been used to detain a ship.Naumenko, who owns the yacht through a St Kitts and Nevis-registered company, took legal action against Britain's Department of Transport (DfT), arguing the vessel was detained…

Credit Suisse Wins $41 Million Superyacht Lawsuit Against Saudi Prince

Swiss lender Credit Suisse has won a $41 million lawsuit against a member of the Saudi royal family over a loan to refinance a super yacht, with London’s High Court ruling there was no viable defense to the bank’s case.Prince Fahad bin Sultan bin Abdulaziz al Saud is liable to pay his company Burgundy Sea Ltd’s debts to Credit Suisse, Judge Robert Bright said in a written ruling.The judge had ruled in Credit Suisse’s favor without a trial at a hearing last month, at which the prince and Burgundy were unrepresented…

Russian Superyacht in Fiji Leaves for US Amid Legal Wrangling

A Russian-owned superyacht docked in Fiji departed for the United States on Tuesday after a court in the Pacific island nation ordered its removal, saying it was a waste of money to maintain amid legal wrangling over its seizure.The U.S. Justice Department's Taskforce KleptoCapture has focused on seizing yachts and other luxury assets of Russian oligarchs in a bid to pressure Russian President Vladimir Putin over the war in Ukraine.The 106-meter (350-foot) Amadea arrived in Fiji on April 13 after an 18-day voyage from Mexico. It was seized by Fiji authorities after the country's High Court granted a U.S.

United States Can Seize Russian Superyacht, Fiji Court Rules

Fiji court ruled on Tuesday that the United States can seize a Russian-owned superyacht, 21 days after it arrived and was impounded by police, as the United States and its allies press Russia over its invasion of Ukraine.U.S. authorities assert that the luxury vessel, the Amadea, is ultimately owned by Russian oligarch Suleiman Kerimov, who has been sanctioned by the United States and the European Union.The U.S. Justice Department's Taskforce KleptoCapture has focused on seizing yachts and other luxury assets to put the finances of Russian oligarchs under strain in a bid to pressure Russian President Vladimir Putin over the war in Ukraine.

Dubai's Highest Court Rejects Superyacht Seizure Appeal in Mammoth Divorce Battle

Dubai’s highest court has rejected an appeal by the ex-wife of a Russian billionaire to seize a £350 million ($460 million) superyacht in one of the world’s costliest divorce battles, a court ruling last week said.The Dubai Court of Cassation rejected an appeal by Tatiana Akhmedova, ex-wife of oil and gas billionaire Farkhad Akhmedov, to seize the yacht as part of a 453 million pound divorce bill imposed by London’s High Court.The vessel, the M.V. Luna, was built for Russian billionaire Roman Abramovich before Akhmedov bought it in 2014.

UK Court Orders Russian Oligarch to Hand Over Superyacht in Divorce Fight

A Russian billionaire has been ordered by a court in London to hand over a 350 million-pound ($500 million) superyacht to his wife as part of Britain’s biggest-ever divorce battle.Justice Haddon-Cave at the High Court ruled that Farkad Akhmedov, 62, had used evasive and underhand tactics to keep the yacht beyond the reach of the English courts and avoid paying his wife, Tatiana Akhmedova, 41.The 377-foot "Luna" was bought by Akhmedov in 2014 from fellow Russian oligarch and Chelsea football club owner Roman Abramovich.The court heard that the yacht, currently in Dubai, is the second largest expedition yacht in the world.It is fitted with an anti-missil

Cruise Ship Held in Dublin Over Alleged Fuel Bill Arrears

Ireland's High Court orders arrest & detention of cruise ship 'MV Princess Danae' for unpaid US$94,000 bunker fuel bill. The MV Princess Danae, which has a capacity to carry more than 800 passengers and crew, is registered in Madeira and flies the flag of Portugal. In the High Court, Mr Justice Roderick Murphy said he was satisfied to issue a warrant under a 1952 International Maritime Convention allowing for the arrest and detention of the Portuguese registered cruise ship, reports the 'Irish Independent'. The arrest and detention order was sought by Italian registered firm Omega Bunker SRL…