Gibraltar Releases 360m-GBP Superyacht After Debt Agreement

The 360-million GBP superyacht impounded in Gibraltar has been released by a court decision.


The futuristic craft commissioned by Russian billionaire Andrei Melnichenko was held in the British territory after the construction company said he had not paid the final 13 million GBP instalment of the money he owed them.


Now a Gibraltar court has released the craft, launched in 2016 after a four-year build, to be sailed to the city of Cartagena, in the southeastern Spanish region of Murcia, in order to undergo standard final checks by Spanish shipbuilder Navantia.


It is not clear what payments, if any, have been made, only that both parties had come to an agreement.


The yacht, named only as A, sails under Bermuda’s flag. It will stay in Cartagena until May.


The sailing yacht is the biggest yacht in the world and is almost 143 metres long.


Andrei Melnichenko met with eight designers in 2008 in order to listen to their ideas. The billionaire chose the French designer Jacques Garcia, but after having some doubts about the design, he chose Philippe Starck.