Seizing or russian yachts

i have been reading with some interest the arresting of russian yachts. there is now one on its way to hawaii from fiji.

my personal experience with US Federal Marshall seizers is that the care custody and control of the vessel is at the expense of the seizor in this case the US Goverment. so i assume the tax payer is footing the bill for this in addition to the expenses.
to what purpose does this serve? This is not an american flag vessel so it cant be put on charter and auction of the vessel may take years to sort out while expenses incur. the vessel needs to be continuously manned and maintained.

our tax dollars at work!

Only partially accurate. The expenses of the U.S. Marshals Service and/or the “substitute custodian” are initially borne by the plaintiff asserting in rem jurisdiction over the vessel. However, these expenses are the first priority amongst the various liens that may exist on the vessel, and the expenses are reimbursed, either from the sale of the vessel, or the bond the owner of the vessel posts to release the vessel. The expenses won’t be at the expense of the taxpayer, it will be from either the owner of the vessel, or the buyer in a foreclosure sale. General info on the process here.

1 Like

Vessels seized by the US Government can be subsequently Jones Act qualified.

Edit: As Mr Cavo correctly pointed out in his post below; there must be a foreclosure sale. Merely arresting a vessel does not change its status.

I read somewhere that the yacht was reflagged as a US-ship for the voyage Fiji > Hawaii.

After a foreclosure sale. It can’t be chartered while under arrest.

Lots of Super Yachts has been seized around the world according to Superyacht Times:

PS> The charter market for Super Yachts are not only in the US, but it may be doubtful if anybody outside US wants to charter a yacht that has been seized and put under US flag, even if under UN sanctions. (??)

Upon what enlightened foundation was that statement created?

3 Likes

On which enlighten foundation to do think it is wrong?

I think that if this yacht should leave US waters while still under US flag and show up in a foreign port before the legality of the seizing is settled, legal action may be taken by the former owner, whoever that shows up to be.

Don’t know about you, but most people that could afford to charter such yachts can also afford proper legal advise before they enter into a charter agreement.

This post was flagged by the community and is temporarily hidden.

1 Like

NINE THINGS TO DO WITH SEIZED SUPER YACHTS

  1. Automate them and run them through Russian mine fields in the Black Sea.
  2. Use them to haul sheep from NZ to Europe to feed refugees.
  3. Hold $1000 per ticket floating parties on them to fund Ukrainian war effort.
  4. Moor them in Gdansk as weekend luxury apartments for all the good people hosting Ukrainian refugees.
  5. Paint a picture of Putin on them and sink them as part of the Charleston Deep Reef, after crowdfunding donations for each sinking, money to go to Ukrainian Relief.
  6. Moor them in major U.S. cities. Spread the word that there is a Kraken’s worth of missing ballots hidden on each by George Soros, Buzz Lightyear and Tom Hanks. When nutcases storm the boats, lock the doors and sink them.
  7. More testing of Quicksink guided bombs.
  8. Retrofit them as pontoon bridges to replace those the Russians have blown up.
  9. Use them in a collision-avoidance demolition derby between the MMAs.
2 Likes

Very creative :grinning:

Having held a management position in one of the world’s largest megayacht management and charter brokerage firms.

These yachts are not bulkers or drillships Bug and they are owned and operate in a totally different universe than your FoC buddies. Considering that if some billionaire’s vacation is cut short because the yacht is detained, force majeure would come into effect and the charterer would probably get most of his money back plus private jet expenses for his pals and a good chunk of the replacement charter. So, yes, those people have pretty good lawyers and charter brokers don’t risk future income by stiffing their clients.

Agree that they would not suffer because they would not have chartered a yacht that was likely to get detained because it’s legal ownership was not settled.
If and when all legal issues are cleared, it would not be a problem.

I see the US DOJ has picked a descriptive name for their Superyacht confiscation operation:

PS> I presume “Buy American” principle apply. Maybe jobs for some US Mariners, if any are still available?

Good luck finding experienced crews that can take care of these yachts. Usually there pretty technically advanced with systems. Most times they hire away employees that built the boat. Wouldn’t be surprised if some caught fire or had major mechanical issues while in the care and custody of the US.
My experience has been and I’ve done several seizures. That you are far better off with the former owners crew
Barrentry sp? Is not unusual as you have taken away their income
Never saw the logic in this. But then again Obama retreads are running the country for the time being

AFAIK these yachts may be owned by rich Russians (aka Oligarchs) usually through companies or thrusts that they control, not privately. Meaning of Oligarch:

The yachts are usually registered in Bermuda, Bahamas, Cayman Island, Gibraltar or Malta, manned by international crews (not Russians) managed and operated by Yacht Management companies in places like, UK, Malta, Cyprus, Monaco etc.)

I agree that these yachts may be arrested to discourage support for the Russian aggression in Ukraine, but since it is an international sanction in place, shouldn’t the arrest be done and the yachts held in the ports were the yachts are located, by the local Government?

For the US DOJ to seize property in foreign countries and even bring the yacht to the US, MAY result in large expenses in the short term and even larger claims for compensations when the war is over. (Lawyers will love it, though)

PS> Different sanction and different type of ship:

Equating Oligarch with Rich Russian that gained their wealth at the fall of USSR is a fairly new thing and has been enhanced by the Ukraine crisis due to extensive media attention.

In 2014 it was another “Oligarchy” that got a lot of press:

It is still being mentioned, but not so much in the so called “mainstream media”:

1 Like

Everyone knows the US is an oligarchy. But the oligarchs are pretty smart in the USA.
They divide and conquer. As former president Lyndon Johnson once said, " “If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you.”
Politicians in the EU as well as the non EU countries Know this too because it works.

1 Like

Great observation
All those foundations that support npr are not set up out of the goodness of their hearts
Tax free and even the dog is on the board of directors