Judicial sales of superyachts--also known as court-ordered sales of superyachts--are hot topics of conversation lately, primarily due to the government of Antigua and Barbuda deciding to seize the superyacht Alfa Nero and auction her to the highest bidder. Therein lies a significant problem: Unlike the customary practice for yacht auctions involving governments, this auction is being pursued without a court order.
In this episode of The Yacht Law Podcast, maritime attorney Michael Moore and journalist Diane M. Byrne discuss what yacht buyers need to know if they're considering the judicial sale of a superyacht. For example, even though there's no formal single maritime law governing these sales, countries around the world consider the U.S. Marshal approach the gold standard. Find out what that standard involves, and why there's strong momentum among the United Nations members to establish a single unifying process for all judicial maritime sales, including those of superyachts.
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Hiring a lawyer is a big decision. Visit Moore & Company for the legal team's qualifications and experience. And, to learn the latest about superyacht launches, shipyards, designs, and destinations, visit Megayacht News.