Sensation Yachts trial set for November - Trade Only Today

Sensation Yachts trial set for November

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A Nov. 1 trial date was set to sort out the remaining property - including three half-finished megayachts - at Sensation Yachts' New Zealand headquarters.

Banker HSBC wants to sell the boatyard to recover millions of dollars it is owed, but can't do so without removing the chattels, according to a report from Business Day.

The bank was hoping to force their removal via a short, simple legal procedure called an "originating application" last month, but HSBC lawyer James Burt said that move failed after a judge said the procedure was inappropriate and the matter must now go to a full trial.

Ivan Erceg formerly headed Sensation Yachts, which is in receivership and liquidation. Erceg filed an appeal after being declared bankrupt in February. He is said to be living in the south of France.

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