US wins lawsuit to seize Russian gold tycoon’s $300m superyacht in Fiji – report

Superyacht Amadea is moored at Queens Wharf in Lautoka, Fiji on April 15, 2022.

Leon Lord/Fiji Sun via AP, File

  • The United States won a legal battle on Friday to seize a Russian oligarch’s yacht in Fiji, AP reported.
  • The Fiji Court of Appeal has dismissed an appeal against the seizure of Suleyman Kerimov’s yacht, by AP.
  • The yacht Amadea was banned from leaving Fiji port a week after arriving on April 12.
  • For more stories go to www.BusinessInsider.co.za.

The United States won a legal dispute on Friday to seize a Russian oligarch’s $300 million yacht, which is docked in Fiji, the Associated Press reported.

US authorities said the superyacht, called Amadea, was owned by gold tycoon Suleyman Kerimov, who is on US, EU and UK sanctions lists. Amadea was seized in early May by the Fijian authorities.

Feizal Haniff, who represents the company that legally owns the yacht, filed an appeal against the US seizure, which the Fiji Court of Appeal dismissed on Friday, AP reported.

Haniff said in the appeal that the United States could not seize Amadea while it is based in Fiji until a court confirms who the ship actually belonged to, per AP.

The news agency reported that Haniff plans to take the case to the country’s Supreme Court and is expected to seek a court order to prevent the US from moving the yacht out of Fiji before the appeal is heard. .

The Court of Appeal said its judgment would take seven days to become effective as part of the decision, per AP, which said it would allow further appeals to be filed within that time.

The Court of Appeals did not immediately respond to Insider’s request for comment.

Amadea arrived in Lautoka, Fiji, on April 12 after an 18-day voyage across the Pacific Ocean, but a week later was banned from leaving because the country’s high court granted a restraining order against the vessel, in accordance with the applications submitted.

Fiji’s high court then ruled that the United States was able to seize Amadea.

Kerimov, who has a net worth of $13.4 billion, according to Bloomberg’s Billionaires Index, is among those who have been sanctioned for having close ties to Russian President Vladimir Putin.

Kerimov’s family owns a majority stake in Polyus Gold, which claims to be Russia’s largest gold producer, while Kerimov himself owns Nafta Moscow, a Russian financial group.

Receive the best of our site by e-mail every day of the week.

Head over to Business Insider’s homepage for more stories.

Leave a Comment