M/Y Natita Seized by Goldman Sachs

14 August 2017

Goldman Sachs just added a new asset to its portfolio: 66-meterM/Y Natita. According to the WallStreet Journal, she was seized due to owner American oil mogul WilliamKallop’s inability to service the loan against the yacht.

In 2014, Kallop reportedlyused the yacht, along with one of his other yachts, 57-meter M/Y Bad Girl, as collateral for a $32million loan from Goldman Sachs. He listed Natitafor sale around $67 million in 2015, but she continued to sit on the market fortwo years, even after he dropped the price to $57.5 million last year. The bankclaimed that Kallop stopped servicing the loan in November 2016 with nearly $28million left to repay.

Three crewmembers, including a captain, were laid off; they were recentlyawarded roughly $90,000 in back pay by a Florida court, the Wall Street Journal reports. Kallop alsoreportedly owes the marina where Natitais docked hundreds of thousands of dollars in fees.

Goldman Sachs eventually filed suit to have the boat seized,which was awarded to them by the Miami federal court. Natita currently remains at the West Palm Beach marina where shewas impounded by U.S. Marshals. The bank purchased $67,000 of fuel to keep hergenerator running; according toreports, they are likely to auction the boat, which is currently listed at$39.9 million, more than the loan’s outstanding balance.