Photo: Yacht Charter Fleet
One of the very few Russian oligarchs who have been vocal after the official international sanctions targeting them, billionaire Alexey Kuzmichev goes even further after infamously having won the first round in the battle to get his main yacht back. His lawyer is now trying to get him the right to use his second pleasure craft simply to travel from one of his homes to the other.
While other sanctioned oligarchs have already had their superyachts sold after being seized, billionaire Kuzmichev is on the way to getting both of his yachts back. These are La Petite Ourse, an 86-footer (26 meters), and La Petite Ourse II, a 54-footer (16.5 meters), both Wally yachts. Earlier this month, Kuzmichev made headlines after judges ruled that the raid on La Petite Ourse was illegal.
Now, his lawyer is arguing that the billionaire has the right to use his second yacht just to cruise from Cannes to Saint Tropez. Russian oligarchs that were sanctioned by the EU still have the right to use their frozen assets, Bloomberg reports, as long as they don’t leave the territory where they’re located. Based on this, Kuzmichev’s lawyer argued that the billionaire should be able to use his yacht along the French Riviera when he’s at his second home, just as he uses his cars to go from one of his houses to the other.
It sounds like the Russian mogul, one of the founders of a powerful investment company, is upset about not being allowed to use his multiple vehicles to move from one of his multiple properties to the other. Most of us associate luxury yachts with vacations, but when you live on the French Riviera, these precious toys become day-to-day personal vehicles. According to the owner’s lawyer, as long as he sticks to French territorial waters, Kuzmichev should be free to sail La Petite Ourse II whenever he wants to.
This new petition could bring a second victory for the Russian tycoon, who has been one of the few to sue the authorities following the unprecedented hunt for oligarch-owned yachts.
Now, his lawyer is arguing that the billionaire has the right to use his second yacht just to cruise from Cannes to Saint Tropez. Russian oligarchs that were sanctioned by the EU still have the right to use their frozen assets, Bloomberg reports, as long as they don’t leave the territory where they’re located. Based on this, Kuzmichev’s lawyer argued that the billionaire should be able to use his yacht along the French Riviera when he’s at his second home, just as he uses his cars to go from one of his houses to the other.
It sounds like the Russian mogul, one of the founders of a powerful investment company, is upset about not being allowed to use his multiple vehicles to move from one of his multiple properties to the other. Most of us associate luxury yachts with vacations, but when you live on the French Riviera, these precious toys become day-to-day personal vehicles. According to the owner’s lawyer, as long as he sticks to French territorial waters, Kuzmichev should be free to sail La Petite Ourse II whenever he wants to.
This new petition could bring a second victory for the Russian tycoon, who has been one of the few to sue the authorities following the unprecedented hunt for oligarch-owned yachts.
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