If owning superyachts and maintaining them is no simple story, then seizing and selling these megayachts is also a saga of struggle. This monumental task entails authorities fighting tooth and nail to break through the puzzling web of shell companies followed by proving the rightful owner and getting embroiled in interminable legal battles. The case of Amadea was a classic example. However, like in any story, there are surprises, and superyacht Axioma is just that. Unlike Amadea, luxury yacht Axioma will not be sailing in the sea of unfinished business. A Supreme Court in Gibraltar has mandated that it be sold, per yacht vlogger eSysman SuperYachts, who also threw light on the ownership trail of motoryacht Axioma owned by Pyrene Investments.
A shareholder of Pyrene Investments was a Cypriot company called Ferdberg Holding Ltd., owned by Russian billionaire and oil magnate Dmitry Pumpyansky. Fortunately, this narrative is free of ownership drama, but drama exists. Axioma was impounded in March and was heading to Turkey. The vessel took a detour to Gibraltor, which was a risk considering its owner was already on the sanctions list. On reaching Gibraltar, Axioma was immediately boarded by officials, and the rest is history.
You must be wondering when the drama unfolds. The JPMorgan bank had provided Pyrene Investments with a $22 million loan, and Pumpyansky’s inclusion in the sanctions list breached the loan agreement. Being on the sanction list meant Pumpyansky’s assets were frozen, and even if he did manage to repay the loan (he is a billionaire), the bank wasn’t allowed to accept his money. The best way to reimburse the massive loan was by selling the 236-footer.
JP Morgan won court order over luxury vessel Axioma:
Investment bank JP Morgan Chase won a court order that authorized the seizure of Axioma. Business Insider shared, “JPMorgan is acting pursuant to its mortgage rights,” a spokesperson for the Gibraltar government said. “Her Majesty’s Government of Gibraltar is exercising rights to enforce freezing sanctions also.” It was also mentioned that Axioma was only allowed to enter British territorial waters “in the interests of creditors with proper claims against the vessel and who seek the assistance of the Admiralty jurisdiction of the Supreme court to enforce such claims.” The luxury boat will now be sold, but it is improbable the vessel will go under the hammer for its whopping $75 million market value. It will undoubtedly sell for more than the amount owed to the bank. Who knows, this way, it might end up back in the lap of Pumpyansky himself.
The amazing 236-foot Axioma motoryacht:
Formerly anointed Red Square, the $75 million stunner was delivered by the Turkish shipyard Dunya Yachts in 2013. The six-decker beauty boasts a striking blue paint job and elegant silhouettes owing to the excellent exterior design by Sterling Scott. Alberto Pinto is responsible for modern and crisp interiors. The guest cabins and lounge areas look avant-garde with geometric influences and neutral hues, offering a wide array of amenities. The double-height atrium is the most unique element, comprising an exquisite ceiling reminiscent of ocean waves in gold-hued details.
Axioma boasts an open mezzanine, elevator, and a swim-up bar. The dynamic motoryacht flaunts an infinity pool, a well-equipped fitness center, a movie theater, steam, sauna, and massage rooms, with the most stunning views. The modern full displacement superyacht can accommodate12 guests in 6 luxurious cabins on the main deck with large windows for uninterrupted panoramic views. Axioma is admittedly more about what lies beyond these sprawling suites. She truly is an entertainer with the best amenities.
The designers have carefully placed these comforts in spaces that offer the best of the milieu. The gym, massage room, and steam room are not on the lower levels as is the norm. They offer energizing and refreshing views while the cinema is shifted below where vistas or the lack thereof makes no difference.
Axioma boasts 6,000 nautical miles at 12 knots owing to twin Caterpillar engines. One of the few Russian-owned superyachts offered for charter, this $75 million superyacht has played host to some of the most renowned celebrities in the world.
The most-liked Instagram picture of 2015 featured Kendall Jenner lying down in one of Axioma’s hallways.
The photo that got a whopping 3.2 million likes featured the supermodel in a gorgeous lace dress, with her hair artfully arranged in the shape of hearts.
About Axioma’s owner, Dmitry Pumpyansky:
$2.2 billion! That’s how much this Russian billionaire businessman is worth today. He started as a metals trader. After working in several metal factories, Pumpyansky took over the Sinarsky Pipe Factory. The billionaire who acquired the pipe conglomerate TMK owes his enormous wealth to steel pipes. By 2006, he became the 100% owner by buying out his partners.
According to Forbes, Pumpyansky owns a modern art gallery in Ekaterinburg, exhibiting some pieces from his collection primarily Russian artists. The learned man earned a Candidate of Sciences (Engineering) and a Ph.D. in economics and has authored more than 70 scientific works.