Rothschild wins yacht dispute

Nat Rothschild has won a long-running legal dispute over a €41.7m superyacht he ordered in 2006. The Court of Appeal backed the tycoon’s decision to call in the payment of a loan made to the manufacturers, Monaco Yachting & Technology. The loan was intended to fund construction of the 71.5m motor yacht, codenamed Project Nato, but became caught up in a legal wrangle over progress on the boat. According to the court’s decision, “the yacht is still at La Spezia [harbour] in an uncompleted condition”. Neither side commented yesterday.