A 220-foot megayacht belonging to real estate developer Charles Cohen is being seized. The temporary seizure of the vessel comes amid a heated legal battle. Cohen's dilemma spotlights how luxurious assets and lifestyles carry financial and environmental implications.
According to The Real Deal, the Seasense is in the port of Loano, Italy. The moored boat is worth $48 million and cannot leave without court approval.
This seizure follows a legal dispute between Cohen and Fortress Investment Group.
Fortress is attempting to collect on a $187 million court judgment against Cohen. He has defaulted on a $534 million loan. Fortress alleges that Cohen has tried to shield his assets. According to The Real Deal, Cohen tried to transfer ownership of his Greenwich, Connecticut, mansion, as well as four other yachts valued at a total of $50 million, to his wife, Clo, to avoid having to forfeit them.
The couple commissioned the custom-built yacht. They boasted about its bespoke features. "I just can't wear someone else's shoes," Cohen said in a 2017 SuperYacht Times article.
The couple furnished it with "a gym, four decks, a built-in pizza oven, an elevator, and a 10-meter pool," per The Real Deal.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
Megayachts are a significant source of planet-warming pollution. They consume vast amounts of fuel, emitting carbon pollution into the atmosphere.
Their seaward excess is contributing to the overheating of our planet.
Resources for yacht construction, maintenance, and operation carry environmental costs. Other than financial legality, extreme wealth brings broader environmental harm.
A private jet gives off more carbon dioxide from one short flight than one person does in a year of driving. Shein is a $66 billion fast-fashion polluter. The Chinese clothing retailer produces 6.3 million tons of carbon dioxide per year.
TCD Picks » Upway Spotlight
💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands
|
Do you think billionaires spend their money wisely? Click your choice to see results and speak your mind. |
Definitely 👍 Reducing excessive pollution from all sources is crucial for a cleaner, safer future. Sustainable choices can help to curb this sort of lavish consumption, particularly when paired with effective legislation.
Policies like cleaner fuels and efficient transportation protect the environment. Holding industries accountable for their environmental footprint also draws a global net positive.
Consumers can choose low-impact travel alternatives. Rideshares or car pools reduce the number of cars on the road and tailpipe pollution. Driving an electric vehicle can lead to cleaner air and communities.
Sustainable luxury is possible (through electrification, renewable energy, etc.), but it takes conscious decisions. Valuing experiences over material extravagances is still key.
The Seasense megayacht remains a symbol of an ongoing legal and environmental conversation.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
