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Moran broker loses appeal against commission for sale of Russian oligarch's yacht

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Yacht broker Moran Yacht & Ship will not receive a commission for the sale of yacht 4you, owned by Russian millionaire Kirill Pisarev. The company appealed against the decision of the London Court, which earlier rejected its claim to recover 165 thousand pounds from Pisarev, but lost.

Pisarev bought the 47-metre superyacht 4you in 2010 but later decided the vessel was too small for his family and ordered a 55-metre yacht of the same name. On 18 May 2010, the broker Moran Yacht & Ship arranged for Russian businessman Alexander Milavsky to view the 47-metre 4you, and in June 2012 Milavsky agreed to buy the boat for €19.8 million. The deal went through the businessmen's firms without the broker being involved.

Moran Yacht & Ship said the sale was the result of the broker's display of the boat in 2010 and filed a lawsuit to get the commission due.

Representatives of Moran Yacht & Ship told the court that the showing was carried out on the instructions of Pisarev, who gave it during a meeting at the Amels shipyard on May 11, 2010.

However, Kirill Pisarev, the former owner of 4you, stated that he had not given any instructions to Moran Yacht & Ship in May 2010 and that the boat show was held on his own initiative. He also said that the sale of the yacht was not the result of the showing. Alexander Milavsky confirmed the same, stating that he had no intention of buying the yacht in 2010 and that he had only agreed to the quick viewings under the pressure of the broker's representative.

Moran Yacht & Ship was indeed instructed to sell 4you, but this did not happen until September 2010. The broker was unable to prove that the showing of the yacht to Miliavsky in May of that year was initiated on behalf of the owner of the vessel.

The court held that the purchase of the 4you in 2012 was a separate transaction, unrelated to the showing that took place two years earlier. The court noted that Mr. Milavsky owned his own yacht at the time of the showing, «which he was quite happy with».

The court ruled that Moran Yacht & Ship must pay Pisarev £65,000 in legal costs.

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