A last-minute payment was made yesterday to Balk Shipyard for 'Mikhail S. Vorontsov'

A last-minute payment was made yesterday to Balk Shipyard for ‘Mikhail S. Vorontsov’

A last-minute payment made yesterday to Balk Shipyard prevented the auction of the 171.9ft (52.4m) three-masted, wood-hulled Mikhail S. Vorontsov.

The judge in Rotterdam oversaw a separate auction, initiated by Marine Propulsion Holding BV, a Balk Shipyard unit, of the Tzarina, a 164-ft (50m) motoryacht built in 1997 by Amels.

Tzarina

Tzarina generated one bid of €50,000

Tzarina generated one bid of €50,000.

Lawyers at the hearing said the final sale is contingent on payment of a €1.5 million claim by Marine Propulsion for worked carried out on the yacht. The yard could not be reached for comment.

The Vorontov’s laminated wooden hull was built at by Dream Ship Victory yard in Turkey. The yacht was completed and outfitted in 2013 by Balk Shipyard, but never sailed far due to a payment dispute.

Dream Ship Victory specializes in building sailing superyachts with laminated wood hulls.