Judicial sales of superyachts—also known as court-ordered superyacht sales—are hot topics of conversation lately. It’s primarily due to the war in Ukraine, but also the actions of the government of Antigua and Barbuda. The latter seized the yacht Alfa Nero and has announced its intention to auction her to the highest bidder.
Therein lies a significant problem: The government is pursuing these actions without a court order.
In this episode of The Yacht Law Podcast, maritime attorney Michael Moore and MegayachtNews.com’s editor Diane M. Byrne discuss some of the questions surrounding court-ordered superyacht sales, along with the issues with the proposed Alfa Nero sale.
Specifically, they talk about:
- what you need to know if you’re considering submitting bids for court-ordered superyacht sales
- why the U.S. Marshal approach is the gold standard globally for these scenarios
- why there’s strong momentum among the United Nations members to establish a single international standard for all judicial maritime sales.
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