Sailing Yacht A released from arrest

Sailing Yacht A was released from arrest today.

Liam Yeats, registrar for the Judiciary in Gibraltar, has told Superyacht Investor that Sailing Yacht A has been released by the Gibraltar Port Authority.

The world’s largest sailing yacht was arrested following over a dispute between the registered owner, Valla Yachts, and Nobiskrug shipbuilders. The yard said there were €15.3m (£13.3m) of unpaid bills from the registered owner to the shipbuilder.

“I can confirm that the SY ‘A’ was arrested on the 15 February 2017 and released from its arrest on the 21 February 2017,” said Yeats.

Though common in the commercial shipping market, public disputes between builders and owners are comparativly uncommon in the superyacht market.