Gibraltar has impounded the superyacht of a Russian billionaire because its German shipbuilder says €15.3 million in fees remains outstanding.
'Super Yacht A' has been stuck in the British territory since Wednesday.
The vessel is one of the world’s largest yachts and has only been on the sea for two weeks. According to its builder, Nobiskrug, it is 143m long with a main mast of 100m, and offers an underwater observation pod and state-of-the art navigation systems.
Designed by Philippe Starck, its reported price tag was some €400 million.
Owner Andrei Melnichenko, an industrialist concerned with fertiliser, coal and energy, is estimated by Forbes to hold a fortune of $13.2 billion.
Nobiskrug is demanding an outstanding payment of €9.8m, as well as €5.5m for subcontractors and interest charges
The Gibraltar Port Authority says "most arrested ships are sold in a sealed-bids auction within six to eight weeks, once the claim has been proved and judgment given".
Its website says that it has been two security guards on board to protect the yacht and its contents.
"We provide the crew with everything, from bunkers so they can keep the generators going, to provisions of food and water." A launch is also arranged "so that the crew, who would otherwise be stuck onboard, can have some shore leave".
'Super Yacht A' under construction
