Yachting Intelligence

The exiled oligarch was forced to sell the 360-foot vessel, named Darius, to one of the world’s richest Arab dynasties after failing to raise the funds to meet contractual payments.

The yacht suffered serious flood damage due to a leaking porthole while it was being built at a shipyard in Bremen, Germany.

He sold the boat to the Al Futtaim family from the United Arab Emirates at a cut-price of £200 million in October 2008.

But now the High Court has ordered him to pay £6 million to the yacht brokers Edmiston & Company after ruling that he owed the company commission for their role in marketing the part-finished yacht. Read the rest of this entry »