How to sell an ocean-going yacht

The owner of an ocean yacht in Belfast is selling it for £1.3m, but the seller says the owner is not being paid and there is a legal dispute.

David Geffen, who runs the Ocean Club Yacht and Dolphin Club, said in a statement: The owner and I have been in correspondence with the seller for some time.

It has been a very long time since we had any contact.

The seller has indicated that he is unable to accept any payment.

I have never received a single penny from the seller.

I am not sure if this is an issue that has arisen in recent years or if the seller has had other problems.

In any case, the seller is entitled to a refund for all of his losses.

The owner has indicated he does not want to make any payments to the seller in respect of the yacht, as he feels that the owner has a legal claim against him.

He has been paid for the yacht for a number of years.

We are in contact with the buyer and are awaiting his response to this letter.

We will be discussing this further in due course.

It is the opinion of our lawyers that the sale is for the best.

If we have to make a payment to the buyer, we will do so.

However, if the buyer does not accept any payments, we would like to make it clear that the seller does not have a right to demand payment from him.

We have not received any payment from the buyer.

It appears that the buyer has received a letter from the Irish Revenue Agency that the yacht has been declared a foreign asset by the Irish Registrar General and that there is an urgent payment order for the purchase price.

The letter indicates that the order is being issued at the request of the Irish authorities to address an asset seizure.

The yacht will be sold in Ireland, the letter states.

We would like all parties to work through this matter quickly to establish if any issues can be resolved, and if the auction proceeds can be shared between us.

The Irish Government has stated that it will continue to take a position against any attempts to confiscate the yacht.

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