Steve Jobs’ impounded yacht has been released from Amsterdam’s port after Jobs’ estate posted an undisclosed security deposit into a bank account to resolve a dispute with the yacht’s designer Philippe Starck.
The dispute stemmed from a disagreement between the two parties over the terms of the payment. Starck expected a fixed payment of nine million euros while Steve Jobs estate paid the designer six percent of the total cost of building the yacht, which amounted to six million euros.
From AFP’s report:
“The Venus is no longer impounded, we have found a solution,” Gerard Moussault, a Hague-based lawyer for the Jobs estate, told AFP on Monday.
“A security deposit was paid into a bank account, but I cannot say for how much,” Moussault said after French designer Starck last week asked Amsterdam bailiffs to seize the sleek 70-metre yacht.
Once the weather becomes suitable for setting sail, the yacht will be taken to the US, where the Jobs family will take control of it.
Venus had been one of Steve Jobs’ last projects, as noted in his biography, which he had been working on with Starck since 2009. The yacht was unveiled in October this year, in the presence of the Jobs family.