Qatar Bank Scuttles Sale Of Yacht In 'Unusual' Circumstances

Law360, London (March 26, 2020, 5:04 PM GMT) -- At Qatar Bank's request, a London judge has set aside the sale of a yacht allegedly owned in trust by an Indian magnate facing extradition from the U.K. on fraud charges, citing “unusual and perhaps exceptional circumstances” in a judgment Wednesday.

Judge Nigel Teare said the sale the High Court permitted in January had been suspended. The court had originally ruled that Qatar National Bank could sell the 46-meter yacht, known as Force India, that is allegedly owned in trust by Vijay Mallya, a beverage tycoon and former co-owner of the Force India Formula 1 motor racing team.

Qatar National Bank,...

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