PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Marine Industry Coating Systems: Selecting and Sourcing

Paint and Coatings Industry News

Main News Page


Billionaire Sues over Yacht Coatings

Wednesday, October 9, 2013

More items for Coating Application

Comment | More

Unhappy with the paint job on his mega-yacht, a Russian billionaire is taking AkzoNobel to court, seeking $100 million in a claim of unsatisfactory work.

Andrey Melnichenko is suing the coatings giant for £62 million ($100 million USD) in damages, alleging that the company's paint job on his £200 million yacht left paint "running," with coating separation causing "lines and sags" and a "cloudy" finish coat, the Daily Mail reported.

Andrey Melnichenko
Wikimedia Commons

Russian billionaire Andrey Melnichenko is suing AkzoNobel for allegedly botching the paint job on his mega-yacht.

Melnichenko commissioned Dutch paint company Dulux, owned by AkzoNobel, to paint his 391-foot luxury yacht, named 'A' after Melnichenko's wife Aleksandra. The mega-yacht has 23,600 square feet of living space, six guest suites, and a dance floor with a glass ceiling.

Damages, Rental Yacht

The company reportedly repainted the vessel at its own cost, but still unimpressed, Melnichenko opted to take legal action.

The 41-year-old billionaire's claim, filed in a New Jersey court, includes the £15 million cost of correcting the paint job plus a monthly £2.5 million fee to hire a replacement yacht for the 18 months it will take for his to be repainted, media reports stated.

According to the Daily Mail, court documents state, "In addition to attorney's fees and costs, these damages represent over $100 million in ascertainable losses on the part of the plaintiff."

mega yacht A
Wikimedia Commons / MatthiasKabel

The 391-foot yacht features six guest suites and a bullet-proof master suite. In addition to alleged damages, Melnichenko is suing for costs to cover 18 months of renting a replacement vessel.

Jeroen Pul, Communications Manager for AkzoNobel North America, said the company did not comment on ongoing legal cases, but confirmed Tuesday (Oct. 8) in an email to PaintSquare News that the company was defending the case.

The yacht costs more than £12 million to maintain per year. Its master bedroom, which is only accessible via a fingerprint recognition system, features bomb-proof glass and a rotating king-size bed.

Melnichenko, whose net worth is approximately £9 billion, starting building his fortune in 1993 when he cofounded one of Russia's largest private banks, MDM Bank. He also acquired the Siberian Coal Energy Company and the chemical company Eurochem, in addition to being one of the founders of TMK, Russia's largest pipe exporter, according to Forbes.

   

Tagged categories: AkzoNobel; Dulux; Lawsuits; Marine Coatings; Shipyards

Comment Join the Conversation:

Sign in to our community to add your comments.

PaintSquare
SSPC 2014 Product Demos

Watch product demos by SSPC 2014 exhibitors. Check them out now!


Minerals Research & Recovery

HIGH PERFORMANCE ABRASIVES


“Made in the USA!”

Why recycle waste from other countries? Go FASTER, CLEANER, at 1/3 THE COST with MR&R “All-American” Sharpshot®HP!!

WATCH THE VIDEO


US Minerals
US Minerals -
Black Magnum

With nationwide production and distribution capabilities, U.S. Minerals supplies a complete range of coal slag and other abrasives to meet all of your blasting needs.


Modern Safety Techniques
Modern Safety Techniques

See our Low Temperature Catalyst for your CO removal needs. Help to provide your workers with safe, comfortable breathing air!


Hempel (USA) Inc.
HEMPEL PROTECTIVE COATINGS

Efficient systems and high quality products to reduce your maintenance costs. Visit Hempel Protective for more information.


Simpson Strong-Tie
Repair, Protect & Strengthen

Need a coating? Turn to Fox. We have solutions to repair, protect and strengthen concrete, steel and wood substrates. Call 888-760-0369 or email info@foxind.com


Axxiom Manufacturing
Schmidt Improves
Portable Blasters

Schmidt's VBS System reduces blowdown intensity, prevents exhaust from damaging floor while using no screens or filters. Reduces sound; Increasing safety.
Call 1-800-231-2085

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com