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A Russian billionaire’s forfeited superyacht will be auctioned off to pay off a loan he defaulted on. With an infinity pool and 3D cinema, it has attracted an ‘incredible amount of interest’

A luxury yacht formerly owned by sanctioned Russian businessman Dmitry Pumpyansky will be auctioned off on Tuesday after the billionaire defaulted on his debt. JPMorgan Chase & Co a loan, based on auction house website.

Nigel Hollyer, a broker at auction house Howe Robinson Partners, told Bloomberg by phone it would be the first superyacht to go on public auction since Russia’s invasion of Ukraine prompted authorities to freeze the ships. luxury ports in the world.

Axioma was arrested by British authorities in Gibraltar in March at the entrance to the Mediterranean Sea. The ship is valued at £63 million, although it is expected to sell below that price, BBC speakwithout disclosing how it got its assessed value.

JPMorgan last month won a court order in Gibraltar authorizing the sale of the 240-foot vessel after Pumpyansky refused a $20.6 million loan tied to the ship, Bloomberg previously reported citing court documents. A spokesman for the bank declined to comment.

The five-story ship, which boasts an infinity pool and 3D cinema, has attracted an “incredible amount of interest,” Hollyer said, citing about 115 requests and 28 inspections by buyers. potential or their survey team to date. He declined to comment on the value of the boat, citing confidentiality agreements.

Pumpyansky made a lot of money in the steel business. Before being sanctioned in March, he controlled TMK PJSC, Russia’s largest steel pipe producer.

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