Out of sight, out of mind is a notion that doesn’t work with a yacht as stunning as the $120 million Alfa Nero. No matter that the exceptional Oceanco superyacht has been abandoned in Antigua since February 2022, with no owner in sight, attention is one thing that doesn’t seem to evade this floating mansion. It is back under the spotlight owing to legal matters as a High Court Judge has set the first hearing on Yulia Gurieva-Motlokhov’s claim for September 20, 2024.
According to the Antigua Observer, Gurieva-Motlokhov, the sanctioned daughter of Russian oligarch Andrey Guryev, lost her bid for an injunction to stop the sale of the luxury superyacht Alfa Nero. In the latest ruling, High Court Judge Rene Williams refused to grant interim relief to Gurieva-Motlokhov. The judge reasoned that such a decision could prevent other people involved in the case from having their voices heard properly. Moreover, the request from Gurieva-Motlokhov to challenge the government’s action came too late. She contested the legality of the Port Authority (Amendment) Act 2023, used by the government to seize the Alfa Nero last year.
Things might have turned out differently if the daughter of the tycoon had acted sooner. Her inaction turned into her disadvantage, but it may finally be the much-needed silver lining in Alfa Nero’s gloomy grey clouds. “Thus, the court should not make an order requiring the Port Manager to act contrary to an Act of Parliament in these circumstances,” the judge wrote.
Per Superyacht News, neither Guryev nor Gurieva-Motlokhov claimed ownership of the yacht within the specified time frame, and despite several attempts from the government to make contact with both Guryevs. With little to no choice, the government deemed the vessel to be abandoned, seized it, and took ownership status.
The rest is history, where the yacht that goes nowhere for nearly 26 months now is still bleeding money. The tiny nation’s taxpayers have already spent $3.1 million in maintaining the 267-foot yacht. Being an opulent pleasure craft made with the finest materials and adorned with rare and expensive paintings, Alfa Nero needs constant air conditioning, for which it burns $2,000 of diesel every day. This has resulted in a monumental fuel bill of over a whopping $1.6 million. To put the burden of this boat into perspective, the total money spent on the yacht is almost 2% of Antigua’s annual education budget.
Note – As per World Bank data Antigua had alloted $7.72 million for its defense forces.
