Andrey Melnichenko S Giant 400M Yacht Impounded By Gibraltar Port Authority

The dispute at the heart of this action is between Melnichenko and Nobiskrug, the company that built the super yacht. They’re seeking over $16.1 million from Melnichenko, stemming from disputed costs in arbitration that come to about $10 million, plus almost $6 million in interest charges and wages to various subcontractors employed throughout the project. On its website, the Gibraltar Port Authority has this to say about the action: A spokesman for Melnichenko takes a different view on the development, saying that it represents “an astounding act for a shipbuilder of Nobiskrug’s standing” and unnecessary given the circumstances: Assuming this gets cleared up in a timely fashion, Melnichenko will finally have the sailing yacht of his dreams in his possession, a massive 470-foot long behemoth equipped with a helipad, swimming pool, underwater observation pod, and much, much more – too much to let a measly $16 million stand in his way, especially given the project’s overall estimated cost of $400 million and Melnichenko’s own personal fortune of almost $9 billion. UPDATE: As it turns out, Sailing Yacht A was only impounded for about three days, as reported by Boat International. Here’s a statement from a spokesman for the yacht that puts a bow on the whole affair: