'Louis and the Girls' to be sold for €2.15 million

A court has ordered the private sale of a yacht currently in Malta for part- settlement of an outstanding debt by the owner. The decision was taken upon a request by Christel H. Kuhne, who said that in terms of an agreement dated September 29, 2011 she had loaned €2.91 million to the yacht's owners, Blue Phoenix Maritime Ltd. The 27 metre motor yacht MY Louis and the Girls was registered as security in Malta. No loan repayments were made despite various notices of default. Kuhne said that although two surveyors had separately estimated the value of the yacht at between €1.8 million and €2 million, a buyer had been found at €2.15 million. The court was therefore asked to authorise the direct sale of the yacht to PFM Yachting instead of sale by auction. The court accepted the request.