Published: Monday, 18 March 2013
Mike Fulton

French luxury yacht builder Couach has confirmed the sale of its second 5000 Fly, a 50-metre yacht under construction at the Gujan-Mestras shipyard in Arcachon, near Bordeaux.

The yacht is an upgraded version of her sister ship, La Pellegrina, which launched successfully last September at the Cannes boat show. Valued at over €25m, this new boat is scheduled for delivery in 2014.

Couach Sells Second Fly 5000
La Pellegrina

The purchaser is a Russian client who had rescinded the sale contract signed in 2010 on account of delays in the project, but who finally decided to go ahead with the purchase of the vessel. The purchaser also ended proceedings against the company to recover his €9 million deposit.

Bought out by French industrial investors Nepteam in 2011, Couach had voluntarily placed itself in a ‘safeguard procedure’ under French bankruptcy law. The yard remains under the protection of the commercial court in Bordeaux until a dispute with a bank that is claiming €3 million for the payment of the 50-metre mould is resolved. This industrial tool was apparently not part of the assets taken over by Nepteam.