Gibraltar Chronicle Logo
Local News

Futuristic yacht free to leave Gibraltar after court lifts arrest

The futuristic yacht at the centre of a €15.3m legal wrangle has been freed from admiralty arrest and is expected to sail from Gibraltar this afternoon.
Sailing Yacht A was arrested last Wednesday over an admiralty claim filed by German shipbuilder Nobiskrug against Valla Yachts Limited, the vessel’s Bermuda-registered owner.
It was freed nearly a week later after lawyers for both parties agreed the terms of a financial security pending final resolution of the claim and other matters that are under arbitration in London.
“This unfortunate incident involving Sailing Yacht A has been resolved,” said a spokesman for the vessel’s owner.
“The yacht will be handed over to the owner's project team and she will leave Gibraltar shortly.”


Most Read

Local News

Govt recruits two tax professionals

Download The App On The iOS Store