Presidential Yacht Sequoia Now Owned by Indian Firm

From Bloomberg News — WILMINGTON, Del. >> The former presidential yacht Sequoia, which once plied the Potomac for executive parties, can be sold to a group controlled by Indian interests for $7.8 million, minus loan repayments, a Delaware judge ruled Thursday.
Sequoia Presidential Yacht Group sued FE Partners in Delaware Chancery Court in February, alleging it wrongly attempted to seize the 104-foot, 88-year-old vessel in a dispute over a $5 million loan.
Judge Sam Glasscock in Georgetown signed a final order giving FE Partners the option to buy the vessel for $7.8 million minus incidentals. He also awarded FE Partners as-yet undetermined legal fees.
FE Partners, based in Washington, is controlled by the Goa, India-based Timblo family, which has mining and shipping interests, according to the complaint.
The wooden-hulled Sequoia, a National Historic Landmark built in 1925, served as the official presidential yacht for 50 years before
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