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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I sold my boat to another party agreed price of 210k

Customer Question

I sold my boat to another party for an agreed price of 210k - he made a down payment of 150k and I transferred 48 shares to him and retained 18 shares ( of the total of 64 shares ) in lieu of the remaining payment that we agreed was to be paid over the next 5 years - this is all officially registered on the ships registry in terms off the ownership split on the boat.
I am in dispute with this party over how he is maintaining and operating the boat.
I have no confidence that he intends to pay me the outstanding money for my remaining shares as agreed as he has as much said this to me.
Can I force a sale or sell my shares to another party to recover my money - if so how can I guarantee that they will be given access to the boat or allowed to use it.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello Mark my name is ***** ***** I will help you.
Is there anything in the contract that says he can withhold payment if there is a dispute please?
Customer: replied 2 years ago.
Not as such - the boat is being used as a charter boat and according to the agreement he is obliged to pay me 12k per year based on a turnover of 70k per season or pro- rata on a smaller turnover each year - I have no way of determining what his turnover will be and hence any payment - it's states in the agreement that if he does not achieve this turnover by year 5 that the outstanding amount will be due or the boat sold and money devided 70/30 depending on the sale price
I am not happy how the boat is being maintained ( he is devaluing it due to poor maintenance ) and I know that this summer he has not been operating it in a legal manner as he has been employing unsuitablly qualified skippers that are not approved on the insurance policy and hence taking paying clients out that would not be insured in event off an accident.
I know of 2 instances this summer where minor incidents have occurred ( one of which he has claimed for damage under the insurance policy and I believe he has committed insurance fraud as one of the unapproved skippers was driving at the time.)
The agreement states that the boat should be maintained an operated in a correct and professional manner at all times and this is clearly not the case.
Expert:  Ash replied 2 years ago.
Ok then sadly you would need to issue proceedings for any sums due and if access was denied seeking an injunction to allow access.
You would need to issue a claim using form N1:
And N16a
If you just want to issue a money claim its form N1 or you can do that only online at:
The Court would list the matter for hearing and decide whether to allow access. If the Court does and he refuses this is contempt of Court and would be warned, fined or sent to prison.
Can I clarify anything for you about this today please?
Customer: replied 2 years ago.
Hi Alex - thank you for your advise
Just a couple of details - the boat is a British flagged vessel and the agreement states that any dispute is to be handled under British law - so I guess no problem there. The person is a Dutch national and at the moment the boat is based in Ibiza Spain
Would this have any bearing on the matter if I want to issue a claim through the uk courts?
Finally I feel that because I know about how he is operating the boat - should I inform the insurance company of what I suspect as I have had a good relationship with them for the last 13 years and hold insurance with them for my other charter boat and I don't want to be party to how he is behaving
Expert:  Ash replied 2 years ago.
No problem British law. You can still issue a claim here and get a European enforcement order.
Does that help?
Customer: replied 2 years ago.
Yes thanks - what is your advise about contacting the insurance company and informing them
Expert:  Ash replied 2 years ago.
No need it doesn't involve them