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.

Minerals Research & Recovery
PREMIUM SLAG ABRASIVES

Visit mrrinc.com In surface preparation tests run for NIOSH by an independent company, Sharpshot® was shown to be the best slag abrasive for cutting speed and cost per sq. ft.
Call Steve: 520-297-4626


DRYCO
DEHUMIDIFICATION FOR
ANY SIZE PROJECT!

Temporary climate control equipment. Dehumidifiers,
Heaters, A/C, Power, More…
Toll Free: 866-379-2600


Keizer Technologies, Inc.
Fast • Safe • Clean • Silent

The innovative RPR Induction Disbonder, the world’s fastest, safest, cleanest and very cost effective method for removing paint and coatings from steel surfaces.


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.


KTA-Tator, Inc. - Corporate Office
KTA-TATOR LABORATORY SERVICES

• Coating failure analysis
• Independent
  comparative testing
• Accelerated
  weathering testing
• Toxic metals testing
• A2LA Accredited
800-245-6379


CESCO
PRESSURE PRO PRESSURE WASHERS

All types – All sizes to meet your every need.
Available to buy or rent. Shown-Model B5550HGEA511
• Cold Water • Pro Max
• Poly Belt • Gas
24 HP Honda Generator
CESCO Best Value $4065.00 Contact us: 888-772-3726 BlastandPaint.com


Termarust Technologies
Termarust (HR CSA) Chemically Stops
Active Corrosion

Truss bridge treated with Termarust's (HR CSA) in 1995. This highway & rail truss bridge is still stable and there still is no active corrosion.

 
 
 
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