A possible ruling between the Antigua and Barbuda government and previous owner of 81.3-metre Oceanco yacht Alfa Nero will not affect the yacht’s current ownership, insiders say. This is contrary to previous reports, which suggested a court decision slated for early 2025 would help to determine the yacht’s rightful owner.
While the case seeks to examine the constitutionality of the government’s seizure and subsequent sale of the vessel, CEO of the Antigua Port Authority Darwin Telemaque has since clarified the ruling will only explore whether the government must compensate the yacht’s previous owner, and has “nothing to do” with the current owner or the vessel itself. “The sale is final. There is no way that Alfa Nero could be seized back or sold again at auction,” Telemaque exclusively told BOATPro.
In 2022, the 81.3-metre Oceanco yacht was put under investigation amid allegations that her owner was sanctioned and was later declared “abandoned” by the government of Antigua and Barbuda. The yacht was later sold for $40 million, with Northrop & Johnson‘s Richard Higgins bringing the buyer and assistance from FEMA Marine on the side of the seller. According to Northrop & Johnson, the yacht was on the market just 10 days before closing.
The sale was also used to settle issues around unpaid crew wages, with claims reaching a total of €2.7 million. “The proceeds from the sale will be used to fulfil various obligations, including settling outstanding debts owed to creditors and the crew since the yacht’s arrival,” read a statement by the Antigua Newsroom. “In addition to covering these debts, a portion of the proceeds will be allocated to address the $220 million funding gap [in the local government] recorded for the first half of 2024”.
The pending court case stems from a series of arguments posed to the High Court of the Eastern Caribbean Supreme Court by Yulia Guryeva-Motlokhov, daughter of sanctioned Russian oligarch Andrey Guryev, and two other claimants: Flying Dutchman Overseas Ltd. and Vita Felice Ltd.
According to court documents, Flying Dutchman Overseas has asserted ownership of the vessel, arguing that the defendants (namely the Antigua and Barbuda Port Authority and Attorney General) failed to properly engage with the owners of the vessel prior to its seizure. The claim was brought forward alongside Vita Felice, which claims to be the owner of several works of art on board.
Meanwhile, Guryeva-Motlokhov has claimed to be a beneficiary of the trusts which ultimately control Flying Dutchman Overseas and Vita Felice, specifically challenging the validity of the Port Authority Amendment Act 2023 and “the actions taken thereunder”.
In June 2023, between the yacht’s abandonment and most recent sale, she was sold at auction to former Google CEO Eric Schmidt for $67,000,677 but the sale was not finalised due to legal complications. This could be referring to a last-minute application by Flying Dutchman Overseas Limited (understood to be the registered owner of the vessel) to block the sale ahead of the auction.
Since then, “the extended stay of the vessel has presented significant financial, environmental, and other challenges for Antigua and Barbuda,” according to a government spokesperson. Issues around vessel maintenance, fuel costs, legal fees and unpaid crew wages were all under scrutiny since the yacht’s seizure.
Alfa Nero is notable for her aft deck pool which stretches 12 metres and can be raised to form a helipad or dance floor – a feature that was especially impressive when the yacht was delivered in 2007. Nuvolari Lenard is responsible for her exterior design.
BOAT International previously reported Alfa Nero would officially be rejoining the charter market during the 2024 Antigua Charter Yacht Show. For the winter season, she will cruise the Caribbean and the Bahamas and be available in the Mediterranean for the summer 2025 season.
