Legal End to Presidential Yacht Wrangle

Press Release
Tuesday, January 29, 2013
USS Sequoia: Photo credit FE Partners

New York Supreme Court Judge dismisses legal complaint against owners of Presidential Yacht 'Sequoia'.

The Supreme Court of the State of New York has dismissed a frivolous legal complaint against FE Partners, LLC, that alleged it tried to improperly wrest control of the former Presidential Yacht, the U.S.S. Sequoia. The Hon. Charles E. Ramos ruled that a complaint filed by the owner of the U.S.S. Sequoia "is dismissed in its entirety."

The judge's order came the day after FE Partners filed its response in the case, which chronicled how the Sequoia's owner had hidden and neglected debts and had repeatedly violated the terms of its loan agreement with FE Partners. "We are pleased that the New York Supreme Court promptly dismissed this unfounded complaint, so that we can again devote our attention to preserving a treasured piece of American history that many call 'the floating White House,'" said Richard Graf , legal counsel for FE Partners.   

FE Partners, LLC, is a U.S. company headquartered in Washington, D.C., that was formed to provide capital to preserve assets of significant importance to the heritage of the United States. One of its investors is the Timblo family, prominent members of the business community in India who have longtime American ties and a keen appreciation of American history.

A National Historic Landmark, the stately, 104-foot yacht was built in 1925 and served every president from Herbert Hoover through Gerald Ford .

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

APL’s Schedule Reliability Scales Up

APL was the most reliable carrier with a global on-time performance of 85.5% in May 2015, according to the latest Global Liner Performance Report by SeaIntel Maritime Analysis.

Gazprom, Gasunie Sign Framework Agreement - LNG

At a Meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Han Fennema, CEO and Chairman of the Executive Board of Gasunie a Framework

Haiti’s Port Lafito Officially Opens

GB Group inaugurated their Port Lafito, a world-class modern container port in Haiti. They informed that the port is now open and operational. Port Lafito

Megayachts

Carlyle Group Acquires LMC

Global alternative asset manager The Carlyle Group today announced the acquisition of Lauderdale Marine Center (LMC), the nation's largest yacht repair facility

Damen, AMELS sell YSV with Heli Hanger

The sale of a new 69-metre Yacht Support vessel marks the next level of development for the successful Yacht Support range built by DAMEN in cooperation with Dutch luxury yacht builder AMELS.

Huge Yacht Carrier Headed for South Pacific

New policies making it easier for foreign-flagged vessels to explore the coastlines of Australia have lead DYT Yacht Transport (DYT) to schedule its largest semi-submersible yacht carrier,

History

Release After Seizure - Fincantieri Shipyard

Fincantieri announced today that the Prosecutor's Office of Gorizia has ordered the release of the areas in Monfalcone shipyard subject to seizure on 29 June.

Antwerp Joins “One Belt, One Road” Taskforce

“One Belt, One Road” is a Chinese development strategy launched at the end of 2013 that focuses on connectivity and cooperation among countries primarily in Eurasia.

Research Vessel Heincke: Serving Science for 25 years

7 July 2015. A quarter of a century old, with over 900,000 kilometres (488,842 nautical miles) logged and still on the cutting edge of science and technology:

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3286 sec (3 req/sec)