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Edmiston has success in high court 110m superyacht sale

Business

It was announced in London on Monday that Edmiston had won its legal case against a London based Russian businessman. Edmiston was forced to sue the yacht owner during a six day trial at the High Court in London for commission owed following their sale of his 110m motor yacht Darius in 2008.

Mr Justice Field found in Edmiston’s favour, ruling that Edmiston had been responsible for the sale of Darius (now called Radiant) to an UAE based family. He ruled that the Russian yacht owner should pay Edmiston their rightful commission. The owner has accepted the ruling. Edmiston has not commented other than to say “We were obviously extremely disappointed that we had to go to court over this matter; however, we are pleased with the ruling which has confirmed the key role we played in the sale of Darius”.

The 110m motor yacht, designed by Tim Heywood, was sold for over Euro 240 million, making it the most expensive brokerage sale ever.

By SYT & Photo by Carl Groll

The SuperYacht Times iQ Report

The SuperYacht Times iQ 2018 Report

Did you know that in 2017....

  • 180 new yachts over 30 metres were sold
  • 149 new yachts over 30 metres were completed
  • 443 yachts over 30 metres were under construction
  • 30% of the yachts under construction were available for sale
  • 20% of the yachts were owned by clients from the USA
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