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 November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Denmark Arrests Former OW Bunker Manager

Denmark has arrested a former manager of collapsed ship fuel supplier OW Bunker and intends to hand him to Italy, where he is suspected of fraud, the Danish public prosecutor said on Thursday.

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Denmark Issues New Pilotage Regulations

In an effort to make the pilotage market more efficient, the Danish Maritime Authority (DMA) issued several new regulations following on amendments to the pilotage act.

History

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2166 sec (5 req/sec)