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Northern Marine Baden Listed for Sale

Discussion in 'Northern Marine Yacht' started by Tiaraguy, Sep 27, 2017.

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  1. olderboater

    olderboater Senior Member

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    I think her "sister" hull was smaller. So not one of this length. Plus understand that no engineers ever signed off on this one and no naval architect. Without the bridge and with lot's of work, it probably could have been made to remain upright. Probably still could be but by the time you'd strip it to that you might as well start from scratch with a proven hull.

    Plus, who knows what compromises they made even on the hull.
  2. olderboater

    olderboater Senior Member

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    As an aside, in spite of them being in receivership for years now, there was still at least one active court case as recently as this month. Actually the remaining case involves Concorde Marine. That's a company through which Gilbert Villareal purchased back supposedly "Northern Marine" to combine with other holdings including San Juan and Concorde. I'll have to get more details on that now. The deal was announced in February 2016 but haven't heard of any news since.
    Last edited: Sep 28, 2017
  3. olderboater

    olderboater Senior Member

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    The case. New World and Concorde were arguing over conversion. The refusal to allow New World to move the boat and claiming a lien on it. So, at least very recently there's been a question of lien on the boat. Perhaps that's been resolved.

    There seemed to be some confusion over who owned the boat according to Villareal's deposition. It was blocking the way to the manufacturing facility and the cost to move it was around $50k.

    Going back further here seems to be the situation. The boat was salvaged by the insurer and then moved into the New World facility. New World was still leasing the facility. Then they abandoned the lease and left Baden and one other boat there. Concorde then leased the facility from the owners, not assuming it from New World. Concorde bought the equipment from New World.

    The boats were supposed to be moved within 2 months. They were left for three years. Concorde claimed they did some mold remediation, largely because they had employees in the building. Ultimately they claimed they were owed $292,000.

    What's funny to read is the receiver believed the boat to be of great value since it was a finished boat. Guess he didn't get the part about floating upright or salt water or three years.

    I can only assume by the fact the boat has now been moved to Pacific Marine Center that the matter was ultimately resolved. I don't find record of that though yet but it may not yet be recorded.

    The other boat that was stored there had it's case settled I believe in May of this year.
  4. Danvilletim

    Danvilletim Senior Member

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    I will say it's a good looking boat. There are plenty of dreamers out there. If you could make it right for under $2m it wouldn't be a bad deal.
  5. olderboater

    olderboater Senior Member

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    I don't see how you could. Now, perhaps if I inspected it closely. But I don't see how you avoid ripping out all the interior and then I imagine most equipment needing to be replaced. I see it around 50% of the cost of purchasing one new and at 50% of new I'd never want it.

    You say good looking but understand the design has serious issues. It's one of a kind and to this point been a failure, so you couldn't just restore as designed. It never passed any stability test or got an independent engineering sign off, although got their agreement to proceed and correct based on them having incorrect numbers.