Golden Horizon – the world’s biggest sailing ship – could be seized by bailiffs, reports in Croatia say.
An order has reportedly been made by the Commercial Court in Split to force the sale of the ship over a claim of 57.6million euros (£50million), plus interest, by the Russian-owned bank VTB, which has been the subject of sanctions since the start of the Ukraine war.
There are believed to be seven mortgages on Golden Horizon, totalling more than 220million euros (£190million). Star Clippers – the company that originally ordered the ship as Flying Clipper – is said to be owed 6million euros (£5.2million).
As I reported in August, owners Brodosplit – the yard which built the tall ship – have put it up for sale for £100million. No buyers have yet been publicly identified.
A charter to take the square rigger to Qatar as a floating hotel for Croatian fans fell through and the ship remains moored in Split.
British operators Tradewind Voyages, based in Suffolk, have announced that voyages for 2022 and 2023 are ‘paused’.
Brodosplit today declined to comment.