A two-day trial is due to start in New Zealand on November 1 to resolve the removal from Henderson superyacht yard of Sensation Yachts’ three half finished 50m yachts and other chattels.
The hearing was been requested by HSBC which is looking to recover some the millions of dollars it is currently owed.
HSBC made an earlier attempt to have the chattels removed last month but the court prevented this, agreeing instead to a full trial.
Sensation Yachts has been in liquidation for some time and its owner, Ivan Erceg, is planning an appeal against his own bankruptcy declaration which was put forward in February.
Erceg is understood to be living in the south of France where he has purchased a large house in Cap D’ail. The house along with his former 50m yacht Sensation are both now up for sale.
The three Sensation Yachts craft were part of an order for five placed by Balenia (a Cayman Island registered company) worth more than NZ$100m.
Sensation Yachts was loaned NZ$6.46m by HSBC in May 2007 and in return the bank took a mortgage on the yard.
While the bank effectively owns the yard it cannot sell it or recover funds until the chattels are removed.
It will now have to wait until 2011 at the earliest before the yard can be sold off.