The Amadea superyacht, purportedly under the ownership of Russian oligarch Suleiman Kerimov, was seized in Fiji in February 2022 and has remained stationary ever since. Its situation, along with its misfortune, has not changed in over two years. Federal prosecutors in Manhattan sought to alter this by submitting a statement in federal court in New York in October 2023, urging the judge to proceed with an auction due to the ‘excessive’ carrying costs, estimated at $743,750 per month.
However, US District Judge Dale Ho rejected the request, asserting that the court is cautious about using maintenance costs as the sole justification for the sale, as these costs only represent a small fraction of the vessel’s value and are not unusual for such property.
“The court is wary of relying solely on maintenance costs to justify sale, when those costs represent a small fraction of the value of the res and do not appear to be atypical for property of this type,” said Judge Ho.
As a result, American taxpayers continue to bear the burden of maintaining the 248-foot Lurssen beauty. While not a crime, at $27,000 per day, it is a significant amount that is sure to run into several millions before the yacht is ever returned to its owner.
US officials moved the vessel to San Diego, employing a crew to manage it. The $325 million yacht made a five-day journey from San Diego to Everett Port in Washington state, arriving on April 29th and remaining moored there. DOJ officials are concerned about the nearly $800,000 monthly costs, and the Amadea is likely heading to Seattle next, where premium shipyards offer dry docking services for lavish yachts, potentially costing the government another $5.6 million.
