UPP chair says Alfa Nero was never off auction block, as Administration is desperate for cash to pay creditors

The United Progressive Party (UPP) is still not on board with the
sale of the Alfa Nero superyacht, which the Gaston Browne
Administration is putting on the auction block for a second time.
 
Last week, the Government announced, yet again, that it is seeking
to sell the vessel, which it now owns due to changes in the Port
Authority Act.

However, the Administration’s ownership of the yacht is being
challenged in the courts. But since an initial ruling went in favour of
the Government, the Cabinet believes the other cases will also be
resolved in its favour, as well.
 
Chairman of the UPP D.Gisele Isaac says the Browne
Administration’s announcement of another attempt to auction the
vessel comes as no surprise.

In her opinion, she says, the yacht had never been taken off the
market, since the Administration is desperate for a windfall to help
pay its creditors and suppliers.
 
She says the Party still believes that the manner in which the sale
was approached was poor, and she does not see future sale
attempts going well, especially with court cases pending.

Isaac asks at which point the Browne Administration will stop
spending money just to maintain the vessel and begin putting its
resources to better use.

The initial sale of the vessel – once owned by a reported Russian
oligarch – fell through because of court challenges filed by
interested parties, including the daughter of the original owner.
 
The vessel was auctioned on June 16, 2023, and former Google CEO
Eric Schmidt won with a bid of US$67.6 million. The second highest
bid was US$66 million by another party, Warren Halle.
 
Reportedly, the vessel had been priced at US $60 million.