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.”

FULL STORY IN TOMORROW’S PRINT AND E-EDITIONS