Sunday, June 28th, 2009

Super Yacht Owner battles with Broker

Russian owner to sue Edmiston over commission

Writing in the Sunday Times, journalist David Leppard tells of Boris Berezovsky, the exiled Russian super yacht owner, who has fallen out with brokerage firm Edmiston after he sold one of his super yachts to Abdulla al-Futtaim, a billionaire car dealer from the United Arab Emirates for a reported sum of £217 million. Edmiston is reported to be mortified to discover that the Russian had sold the yacht without paying him a commission.

Berezovsky has issued a High Court writ against Edmiston to establish that he is not entitled to any commission and the broker is expected to countersue for his 10% commission.

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