According to the decision of the Supreme Court of Gibraltar, the 75 million dollar superyacht seized by the Russian oil billionaire could be sold for crumbs. Axioma has six terraces, an infinity pool and a cinema.
If owning superyachts and maintaining them is not a simple story, then seizing and selling these megayachts is also a saga of struggle. This monumental task involves authorities fighting tooth and nail to break through the confusing web of front companies, then proving the rightful owner and tangling themselves in endless legal battles. The case of Amadea is a classic example. However, as with any story, there are surprises, and the superyacht Axioma is just that. Unlike Amadea, the luxury yacht Axioma will not sail the sea of unfinished business. A Gibraltar Supreme Court has ordered its sale, per yacht vlogger eSysman SuperYachts, which also shed light on the ownership history of the Axioma motoryacht owned by Pyrene Investments.
A shareholder of Pyrene Investments was a Cypriot company called Ferdberg Holding Ltd., owned by Russian billionaire and oil tycoon Dmitry Pumpyansky. Fortunately, this narrative is free of dramatic property, but the drama exists. Axioma was seized in March and was heading to Turkey. The vessel took a detour via Gibraltar, which was a risk given that its owner was already on the sanctions list. Upon reaching Gibraltar, Axioma was immediately boarded by officials, and the rest is history.
You have to wonder when the drama is unfolding. JPMorgan Bank had given Pyrene Investments a $22 million loan, and Pumpyansky’s inclusion on the sanctions list violated the loan agreement. Being on the sanctions list meant that Pumpyansky’s assets were frozen, and even if he managed to repay the loan (he’s a billionaire), the bank was not allowed to accept his money. The best way to repay the massive loan was to sell the 236ft.
JP Morgan has obtained a court order on the luxury vessel Axioma:
Investment bank JP Morgan Chase has obtained a court order authorizing the seizure of Axioma. Business Insider said, “JPMorgan is acting within its mortgage rights,” a Gibraltar government spokesperson said. “Her Majesty’s Government of Gibraltar is also exercising its right to apply freezing sanctions.” It was also mentioned that Axioma was only allowed to enter UK territorial waters “for the benefit of creditors who have proper claims against the ship and who seek the aid of the Court’s Admiralty jurisdiction Supreme Court to assert these claims”. The luxury boat will now be sold, but the vessel is unlikely to go under the hammer for its $75 million market value. It will undoubtedly sell for more than the amount owed to the bank. Who knows, this way it might end up in the lap of Pumpyansky himself.
The incredible 236ft Axioma motor yacht:
Formerly anointed Red Square, the $75 million stunner was delivered by Turkish shipyard Dunya Yachts in 2013. The six-deck beauty features striking blue paintwork and sleek silhouettes thanks to excellent exterior design by Sterling Scott . Alberto Pinto is responsible for the clean, modern interiors. Guest cabins and salons are fashion-forward with geometric influences and neutral hues, offering a wide range of amenities. The double-height atrium is the most unique element, featuring an exquisite ceiling reminiscent of ocean waves in golden details.
Axioma has an open mezzanine, an elevator and a swim-up bar. The dynamic motor yacht flaunts an infinity pool, well-equipped fitness center, cinema room, steam room, sauna and massage rooms, with the most breathtaking views. The modern full displacement superyacht can accommodate 12 guests in 6 luxurious cabins on the main deck with large windows for uninterrupted panoramic views. Axioma is admittedly more about what lies beyond those sprawling sequels. She is truly an artist with the best equipment.
Designers have carefully placed these comforts in spaces that offer the best of the environment. The gym, massage room and steam room are not on the lower levels as is the norm. They provide energizing and refreshing views while the cinema is moved below where the views or lack thereof makes no difference.
Axioma claims 6,000 nautical miles at 12 knots thanks to two Caterpillar engines. One of the few Russian-owned superyachts available for charter, this $75 million superyacht has hosted some of the world’s most renowned celebrities.
The most liked Instagram photo of 2015 featured Kendall Jenner lying down in one of Axioma’s hallways.
The photo which received 3.2 million likes showed the model in a gorgeous lace dress, with her hair artfully arranged in the shape of a heart.
About Axioma owner, Dmitry Pumpyansky:
$2.2 billion! This is what this Russian billionaire businessman is worth today. He started as a metal trader. After working in several metallurgical factories, Pumpyansky took over the Sinarsky Pipe Factory. The billionaire who acquired pipe conglomerate TMK owes his huge wealth to steel pipes. In 2006, he became 100% owner by buying out his associates.
According to Forbes, Pumpyansky owns a modern art gallery in Yekaterinburg, displaying some pieces from his collection, mostly by Russian artists. The scholar obtained a candidate of sciences (engineering) and a doctorate. in economics and is the author of more than 70 scientific books.