{"id":207247,"date":"2024-07-20T20:47:18","date_gmt":"2024-07-21T00:47:18","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=207247"},"modified":"2024-07-20T20:47:19","modified_gmt":"2024-07-21T00:47:19","slug":"pm-says-an-entity-is-planning-to-go-to-court-to-seize-alfa-nero-40m-payment","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/pm-says-an-entity-is-planning-to-go-to-court-to-seize-alfa-nero-40m-payment\/","title":{"rendered":"PM says an entity is planning to go to court to seize Alfa Nero $40M payment"},"content":{"rendered":"
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An entity plans to challenge the government in court next week to seize the $40 million collected from the sale of the Alfa Nero, Prime Minister Gaston Browne revealed. <\/p>

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\u201cWe got the $40 million, and we used the money to pay our debt. I am told that some entity is going to court next week to seize the money; that\u2019s fine, it is already spent, so I don\u2019t know what they are going to steal,\u201d Browne remarked.<\/p>\n\n\n\n

However, he stated the money has already been spent. The government sold the vessel to a Turkish billionaire, using the funds to pay off the superyacht\u2019s accumulated debt over the past two years.<\/p>

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Despite initial obstacles that blocked the boat\u2019s sale and caused the top two bidders to withdraw, the transaction was eventually finalized. Browne, who also serves as the country\u2019s finance minister, noted that although several bids had been received over the years, they were deemed insufficient.<\/p>

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\u201cThe Turkish billionaire who now owns the Alfa Nero\u2019s first offer was US$25 million,\u201d Browne said. The buyer eventually increased the bid to US$40 million. Just over a year ago, the boat was valued at about US$120 million. Besides depreciation, the superyacht had accrued significant debt, with fuel costs alone exceeding US$3 million.<\/p>\n\n\n\n

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An entity plans to challenge the government in court next week to seize the $40 million collected from the sale of the Alfa Nero, Prime Minister Gaston Browne revealed. \u201cWe got the $40 million, and we used the money to pay our debt. 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