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A good buy?<\/p>\n
USS Sequoia in happier times<\/p>\n
A judge has ruled the USS Sequoia, dubbed America\u2019s most famous boat, can be sold for nothing.<\/p>\n
The yacht has been laid up since 2014 following a contract dispute reportedly over a $7.5m loan between the yacht\u2019s owner, Sequoia Presidential Yacht Group and investment group FE Partners.<\/p>\n
Under default terms of the agreement, FE Partners could exercise an option to purchase the yacht for $7.8m, but lawyers argued over how much the option price should be reduced because of repairs needed.<\/p>\n
The ruling says FE Partners does not owe any money for the yacht that served five decades of American presidents from Herbert Hoover in 1933 to Jimmy Carter in 1977.<\/p>\n
via Boating Business | A good buy?<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Email Print A good buy? USS Sequoia in happier times A judge has ruled the USS Sequoia, dubbed America\u2019s most famous boat, can be sold for nothing. The yacht has been laid up since 2014 following a contract dispute reportedly … Continue reading