SuperYacht Alfa Nero : Russian Oligarch Andrey Guryev ‘s Daughter Sparks Legal Dispute in 2023 Auction of Seized Russian Yacht
When Antigua’s government seized the ultra-luxury SuperYacht Alfa Nero last year, they likely didn’t anticipate the complex challenges they’d face in disposing of it. The vessel’s maintenance costs have reached nearly $30,000 per week for Antigua, causing insurance concerns and occupying marina space that could otherwise generate revenue. While an auction was initiated, an ongoing legal dispute has hindered the completion of the sale and the transfer of ownership to a new party.
SuperYacht Alfa Nero Auction
Alfa Nero is a luxury motor yacht built in 2007. It is 81 meters long and has six cabins, including one master and two VIP cabins. It can accommodate up to 12 guests and has a crew of 26.
Alfa Nero was built by Oceanco in the Netherlands and was registered in the Cayman Islands. In March 2022, Forbes reported that the yacht was owned by Andrei Guriev and was worth $81 million.
In June 2023, the government of Antigua and Barbuda auctioned off Alfa Nero after it was abandoned there following economic sanctions. The yacht was sold to former Google CEO Eric Schmidt for $67.6 million. The sale was delayed pending a High Court decision on an application for an injunction.
Alfa Nero is considered one of the largest private motor yachts.
SuperYacht Alfa Nero has been associated with the enigmatic Russian billionaire Andrey Guryev, who faced U.S. sanctions in early 2022. When the yacht appeared in Falmouth Harbor, the FBI collaborated with local authorities to investigate its ownership, as Guryev denied any connection to it. Consequently, Antigua seized the yacht as abandoned property and initiated legislative steps for its auction.
In June, the U.S. Department of the Treasury removed sanctions on the SuperYacht Alfa Nero to facilitate the sale, leading to an auction on June 16. Former Google CEO Eric Schmidt emerged as the highest bidder, offering just under $68 million, considerably below the estimated value.
However, a complication arose. Guryev’s daughter, Yulia Guryeva-Motlokhov, filed a lawsuit asserting her ownership of the yacht and claiming procedural violations during its seizure and sale. This ongoing legal dispute has prevented Antigua from providing Schmidt, the winning bidder, with a clear title. Consequently, Schmidt has refrained from payment, as stated by Information Minister Melford Nicholas to the Antigua Observer.
Nicholas further disclosed that the legal dispute might necessitate turning to the second-highest bidder, an unnamed party that submitted a runner-up bid of $66 million, exceeding Antigua’s reserve price of $60 million.
The CEO of the Port of Falmouth, primarily interested in seeing the SuperYacht Alfa Nero removed, likened the entire situation to a suspenseful novel, expressing a desire to resolve the matter swiftly.”
