icon_arrow_down icon_arrow_left icon_arrow_left_large icon_arrow_right icon_arrow_right_large icon_arrow_up icon_bullet_arrow icon_call icon_close icon_facebook icon_googleplus icon_grid_off icon_instagram icon_login icon_mail icon_menu icon_message icon_minus icon_pinterest icon_plus icon_quote_end icon_quote_start icon_refresh icon_search icon_tick_on icon_twitter icon_video_play icon_youtube

Sign up to our mailing list for the latest Boat International & Events news.

SIGN UP

Missing your newsletter?

The General Data Protection Regulation (GDPR) which came in to effect on the 25th May might mean that you’ve stopped receiving emails from us. To make sure you don’t miss out on any more emails from Boat International update your email preferences now.

UPDATE NOW
No, thanks

€35M offered for abandoned 95m superyacht Indian Empress in private sale

The abandoned superyacht Indian Empress may have been sold at last after a buyer offered to pay €35 million for the yacht in a private sale.

The bid from Sea Beauty Yachting Limited came a day before the yacht's second scheduled public auction.

The 95 metre superyacht was due to be reauctioned on September 19 after the previous winning bidder Crediyacht, which was representing an Iranian buyer, failed to pay the the €43.5 million price in time.

However, Barclays (the mortgagee) appealed to the Maltese Court to allow a private sale of the yacht for €35 million.

The case has now been adjourned until September 25 when the court will decide whether or not to grant the private sale. If it goes through, the previous winning bidder Crediyacht, which was banned from participating on the second auction, will be ordered to pay the difference in sale price.

It comes after a number of items were removed from the yacht, including a piano once believed to belong to Elton John and a number of valuable paintings.

The long running dispute dates back to September 2017 when the unknown owner of Indian Empress is understood to have abandoned the yacht. It is alleged that more than 40 crew on board have not been paid since this point. Individuals are understood to be owed between $6,250 to more than $92,000 each. The total amount is thought to exceed $1 million in unpaid wages.

Strategic organiser of maritime union Nautilus Danny McGowan said: “After the disappointment of the first sale falling through, we are pleased to hear of this update. We urge the buyer to deposit the funds with the court as soon as possible so that our members can put the matter behind them with no further obstacles to them receiving what they are owed.”

The yacht was impounded in March this year on behalf of 13 creditors who are reported to be owed around €2 million. Local reports suggested the yacht was boarded by port officials who prevented her from leaving the port. Marine Traffic confirms the yacht remains in Malta. It is understood that while some crew remain working onboard, many have left to seek alternative employment.

Launched by Oceanco in 2000, Indian Empress was the subject of a major 2016 refit. She offers accommodation for up to 12 guests and 30 crewmembers in a 3,176GT interior.

Upgrade your account
Your account at BOAT International doesn't include a BOAT Pro subscription. Please subscribe to BOAT Pro in order to unlock this content.
Subscribe More about BOAT Pro