Rocking the boat: seizing oligarchs’ superyachts isn’t all plain sailing
Legal battle unfolds over yacht tied to sanctioned billionaire, claiming Fiji doesn’t have power to order US seizure
A US bid to seize a $325m (R5bn) superyacht it says belongs to sanctioned Russian billionaire Suleiman Kerimov, has been delayed by a Fijian court, extending a legal battle that’s likely to be repeated around the world as governments move to claim oligarchs’ assets.
Fiji’s Supreme Court granted Millemarin Investments, the registered owner of the 106-metre (348-foot) Amadea, a temporary stay on a previous ruling that would have allowed the US to seize the vessel this week, according to the office of the director of public prosecutions in the Pacific island nation, which is assisting US efforts to apprehend the ship.
After losing an initial appeal last week to overturn the seizure, Millemarin lodged a second appeal. The Supreme Court is expected to decide on the appeal on June 7, when the stay will expire, the prosecutions office said. The stay prevents the yacht from leaving Fiji’s waters, where it’s been since mid-April. ..