SuperYacht Times logo Yachting intelligence promo small
Yachting Intelligence
Latest news
Advertisement

Privilege Yachts’ CEO arrested

New-Build

According to Italian news source La Nazione, the Rome-based shipyard Privilege’s former CEO has been placed under house arrest following charges of fraudulent activity. Mario La Via and former manager Antonio Battista have been connected to offenses involving tax crimes, violating anti-mafia legislation and failing to declare his company as bankrupt while applying for further loans. In September 2011 SuperYachtTimes.com was the first to report about a 127 metre superyachtunder construction at the shipyard. This project remains incomplete.

Following the charges, the company’s estate, with a value of approximately€25,000,000, has been seized by financial authorities. An estimated debt in excess of €180,000,000 forced financial police to take these steps. The fate of the company and its management remains unknown.

The SuperYacht Times iQ Report

SuperYacht Times - The State of Yachting 2020

Being the intelligence partner for the top shipyards and yacht brokers in the world, we have learned to analyse and track the market in great detail. Each year our leading market report is used by investors, CEOs, owners and other key decision makers to inform themselves on the state of the market and future developments. Find all the information you need on the market, fleet, construction book, ownership nationalities and much more in our report.


#weknow - do you want to know? Buy the report now for only €299!

Advertisement