'Triton' sold at auction for US$11 million

Motoryacht Triton has been sold for US$11 million dollars at auction, US attorneys have confirmed.

The 49.7m yacht was auctioned on April 26 in San Diego, by order of the United States Marshal and the bill of sale put through early this month.

The auction was busy with several bidders putting in offers for the yacht said Delta Marine, her yacht builders who also handled previews of Triton prior to auction.

Designed for worldwide cruising, deep sea fishing and exotic reef diving, Triton reached the auction block on a US government order after she was seized in 2010 for non payment of installment payments for her build. Lenders, Sea Prestigio, LLC, claimed right to the sale of the yacht after winning a lawsuit for $5.5 million in debt, one of two payments to be made in stages.



Case reports show the first of two payments, a $15.5 million disbursement, was made by Triton’s associated parties into an escrow account, but the second $5.5 million was not. Under the terms of the mortage agreement, Sea Prestigio had the right to take possession of the vessel in the event of default, as the yacht, not the owner was the guarantee of payment.

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