By Robert A. Emmanuel
Today marks the deadline of seven working days for billionaire Eric Schmidt to deposit US$67.6 million into the Treasury for the purchase of the Alfa Nero as government officials expressed confidence that it will be completed.
The high profile superyacht has been in Falmouth Harbour since early 2022 and was believed to have been owned by Russian oligarch Andrey Guryev prior to the government’s seizure of the vessel.
Schmidt’s was one of three bids revealed during the June 16 auction for the vessel with only two being above the forced sale price of US$60 million.
The formerly sanctioned vessel attracted international attention when Russia’s invasion of Ukraine saw many assets of Russian oligarchs seized or sanctioned.
The Alfa Nero, a 267ft vessel, was deemed by the government to be abandoned and thus a potential environmental disaster, with many of its crew having departed the country.
Prime Minister Gaston Browne has said much of the funds received from the sale of the vessel will be used to service the country’s debts as well as cover debts that have racked up for fuel, crew wages and other costs associated with the vessel over the past year.
Browne also chided his political opponents for suggesting that the funds gained from the sale should be sent to Ukraine.
If Schmidt, a former CEO of Google, fails to deposit the funds into the Consolidated Fund as mandated by the law, the auction’s second highest bidder, who pledged US$66 million, will be deemed the vessel’s preferred purchaser.
Lionel Hurst, the PM’s chief of staff, confirmed to Observer yesterday afternoon that Schmidt’s deposit had not yet been received. “But there is no problem with either the courts or the purchaser,” he added.
