A superyacht being suctioned is as rare as the news of a Saudi royal losing an asset over non-payment of dues. A sense of déjà vu is felt upon learning that the $400 million floating mansion, Golden Odyssey, will be sold after Deutsche Bank Luxembourg successfully arrested the yacht to enforce its mortgage against it for outstanding debt over $116 million. Russian oligarch Dmitrievich Pumpyansky’s Malta-flagged $75 million Axioma yacht was also auctioned to clear a $12.5 million loan with Investment bank JP Morgan Chase.
Lürssen superyacht ‘Golden Odyssey belongs to Kal Marine Limited, a Bermuda-based company that initially secured a loan from the bank in 2013 and used the superyacht as collateral. After failing to make repayments and choosing to ignore calls, the bank decided to seize the yacht. According to Times of Malta, Mr. Justice Spiteri Bailey approved the superyachts private sale for $150 million, deemed the current market value. East Thrive Peace Limited, a company incorporated in the British Virgin Islands, bought the 36th largest luxury vessel in the world, setting a record for the highest price ever fetched for a yacht sold in a judicial sale in Malta.
Lurssen superyacht Golden Odyssey is a gem of the high seas-
This 2015 superyacht is a mammoth stretching 403 feet with a massive beam of 65 feet, a draft of 5.1m, and a volume of 7,690 GT. one can expect nothing less from the 36th largest yacht in the world except maybe oodles of grandeur and tons of amenities. The Golden Odyssey features an exterior design by Francis Design, and an interior by the very renowned Alberto Pinto, sharing another commonality with the superyacht Axioma. Alberto Pinto is the man behind the interiors of Axioma, Alfa Nero, and La Créole, the yacht owned by the Gucci family. $400 million Golden Odyssey is powered by 2 MTU engines, which give her a cruising speed of 11.2 kn and a top speed of 21.0 kn.
About Prince Khalid bin Sultan Al Saud-
The oldest offspring of the late Prince Sultan and Munira bint Abdulaziz bin Musaed bin Jalawi is a member of the House of Saud. The former minister of defense graduated from King Saud University and attained military training from the Royal Military Academy Sandhurst in the class of 1968. He pursued military training fervently, which took him to US Army’s Command and General Staff College at Fort Leavenworth in Kansas and Air War College at Maxwell Air Force Base in Alabama. The Saudi prince earned a master’s degree in political science from Auburn University in 1980. He has earned the monicker “Father of Saudi Arabia’s Missile program” after purchasing the nation’s first guided missile.