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Home > Daily News > M/Y Luna free to leave Dubai?

M/Y Luna free to leave Dubai?

The UAE-based English language newspaper Gulf News has reported that the $450m megayacht Luna, part of London’s largest divorce case, may finally be allowed to set sail from a Dubai port.

The Gulf News article states: “The 115m (380ft) M/Y Luna has been holed up in Dubai while lawyers for Russian oligarch Farkhad Akhmedov fought a UK court order that transferred it to his ex-wife. Dubai’s Court of Appeal dismissed Tatiana Akhmedov’s attempt to enforce the British ruling last week, saying it was contradictory to Islamic sharia law.

Gulf News adds: “While the Dubai court lifted the arrest warrant on the nine-deck ship, its future is still in question because the UK judgment remains in effect alongside an injunction from the Marshall Islands, the flag state of the yacht,” a spokesman for Akhmedov said, adding: “She remains confident in the merits of her case and that the Dubai courts will support common standards of international cooperation by recognising and enforcing overseas judgments.”

At 115m (377ft), Luna is said to be the world’s second-largest expedition yacht and has an estimated worth of over €400m. Luna was originally delivered to Russian businessman Roman Abramovich in 2010, but was later sold to a company linked to Farkhad Akhmedov, a friend of Abramovich’s, for US$360m. In October 2014 the yacht was sent to Bremerhaven, Germany for an extensive refit costing $50m. The yacht was delivered in March 2016 after a 16-month extensive refit.

Source: https://www.ibinews.com/m/y-luna-free-to-leave-dubai/35694.article