Bond, $60,000 Bond – Moonraker Now Being Towed Into Court For Rescue Salvage Award

In August of 2011, Topical Storm Irene blew through the Hudson Valley causing a lot of mayhem and destruction.  On August 29th, 2011,  “Moonraker”, a 120 foot super yacht, became disabled during the storm and asked for assistance from “Margot”, an 84 foot tugboat out of Troy, NY.

(“Moonraker” gets it’s name from the 1979 James Bond movie by the same name)

CLICK HERE to view more pictures of “Moonraker” and (if you have a big enough wallet) charter for a mere $50,000/week

Tug boat owner Rob Goldman is now taking the “Moonraker”’s owner, a company registered to Canadian businessman Michael Silver, to court for $60,000 under the maritime Laws of Salvage.

According the Laws of Salvage (Wikipedia article); A vessel is considered in peril if it is in danger or could become in danger. Examples of a vessel in peril are when it is aground or in danger of going aground. Prior to a salvage attempt the salvor receives permission from the owner or the master to assist the vessel. If the vessel is abandoned no permission is needed.  The amount of the award depends on, in part, the value of the salved vessel, the degree of risk involved and the degree of peril the vessel was in. Legal disputes do arise from the claiming of salvage rights. To reduce the amount of a claim after an accident, boat owners or skippers often remain on board and in command of the vessel; they do everything possible to minimize further loss and seek to minimize the degree of risk the vessel is in. If another vessel offers a tow and the master or owner negotiates an hourly rate before accepting then salvage does not apply.”

According to the lawsuit the Moonraker, would have been in “serious peril” without the help from the Marot.  “The unique and dangerous phenomena of whirlpools with vortexes lower than the surrounding water’s surface were observed in the river’s channel”.

Considering this Super Yacht charges $50,000/week to be chartered do you think the $60,000 award is unreasonable?  Tell us what you think!

Times Union Article:

More Info on Marine Salvage & Recreational Boaters: 

Marine Salvage Wikipedia Article: