<p><a href="https://www.the-chesapeake.com//wp-content/uploads/2013/08/Presidential-yacht-Sequoia.bmp"><img src="https://www.the-chesapeake.com//wp-content/uploads/2013/08/Presidential-yacht-Sequoia.bmp" alt="" title="Presidential yacht Sequoia" class="alignleft size-full wp-image-1974" /></a>From Bloomberg News &#8212; 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.<br />
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.<br />
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.<br />
FE Partners, based in Washington, is controlled by the Goa, India-based Timblo family, which has mining and shipping interests, according to the complaint.<br />
The wooden-hulled Sequoia, a National Historic Landmark built in 1925, served as the official presidential yacht for 50 years before<br />
<a href="http://www.registercitizen.com/general-news/20130829/ex-presidential-yacht-set-to-change-hands-again">READ MORE</a><br />
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