jobs_yacht

Steve Jobs’ Yacht Released After Security Deposit Posted

Last week, we reported that Steve Jobs’s family yacht had been impounded due to a dispute with the French designer Philippe Starck over design fees for the ship. Starck claimed that he was to be paid €9 million for designing the yacht, while the Jobs family said that they had agreed on a rate which was 6% of the €105 million construction cost for the yacht.

Now, AFP now reports that the yacht has been freed after the Jobs family posted a security deposit to a bank account.

“The Venus is no longer impounded, we have found a solution,” Gerard Moussault, a Hague-based lawyer for the Jobs estate, told AFP.

“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 (230-foot) yacht.

Due to bad weather, the yacht remains in a harbor in Amsterdam due to bad weather, but the report notes that the yacht is scheduled to be transported by ship to the United States to be turned over to the Jobs family at an unspecified date.

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Parth Dhebar

Parth Dhebar is a 18 year-old entrepreneur. He is the founder of Simple Reviews, a blog focused on reviewing iPhone and iPad applications. Parth is a recognized name in the industry, known for covering Apple news. He is an editor at Techie-Buzz covering news on Apple. You can follow him on Twitter @pdparticle.