It seems like the Antigua Government is keener than ex-Goggle CEO Eric Schmidt to get hold of controversial Alfa Nero. The government has already moved mountains (read: amendments) to ensure the auction of the luxury vessel took place. The $120 million boat made Falmouth Harbor her involuntary home since March 2022 on the island’s southern coast. After tackling several roadblocks, the ship owned by Russian tycoon Andrey Guryev finally sold to Schmidt for $67.6 million.
He had been given a seven-day deadline to affect payment. But with injunction applications and legal webbings to take care of, the bigwig’s lawyer advised him not to transfer money until the court controversy is ironed out. The government, meanwhile, decided to provide the billionaire (net worth $24.1 billion) with a guarantee against future liabilities and to proceed with the consummation of the sale.
“Further delays, the Cabinet fears, may frustrate the purchaser. The statement added that the Cabinet’s decision would end the wasteful and frivolous litigation by the Russian citizen. Information Minister Melford Nicholas stated, “We’re prepared to grant an indemnity to the buyer against that liability. And so the liability will stay with Antigua and Barbuda; what that would mean in terms of financial exposure isn’t alone. It can’t be beyond the realized accessible cost for the craft.”
The proceeds will be used to clear the external debt of Antigua-
The government’s interest in selling the Alfa Nero is not a philanthropic process but one that will clear almost 8.5% of the country’s external debt of $767.126 million for Jun 2022. The island nation, despite splurging $100,000 monthly for more than a year (nearly $1.5 million in all) on the abandoned superyacht, made a massive profit of $63 million on the sale of the ship that the FBI raided.
