AXIOMA by ship spotter AIS-Split
AXIOMA by ship spotter AIS-Split
The superyacht, AXIOMA, has been auctioned off by a Gibraltar court and sold to the highest bidder. The yacht was auctioned to settle a loan issued by the US-based bank JP Morgan, where the yacht’s owner was a guarantor.
The yacht’s owner, Dmitry Pumpyansky, was added to the U.S. and the U.K. sanctions list in connection with the Russian invasion of Ukraine. Business magnates with ties to the Russian government have been targeted by western sanctions. The superyacht AXIOMA, a sanctioned asset owned by Pumpyansky, was forfeited in March this year by Gibraltar authorities. The forfeiture was made on behalf of the U.S. bank, JP Morgan, after it alleged that Pumpyansky had infringed on the terms of a $ 20 million loan.
The $75 million yacht is 72.5m long and can accommodate 12 people in its 6 cabins. It has a swimming pool, a spa, sports equipment, and a 3D cinema. The auction process attracted at least 63 bids. James Jaffa, a lawyer for British law firm Jaffa & Co., stated that this would become the benchmark for other banks looking to recover their losses from sanctioned assets of Russian Oligarchs. He noted that this auction was carried out very quickly, just 5 months after the seizure, because the seizure was not made on behalf of the government but for a private bank.
