JMB
Now there's a ship with a history of legal battles. I did a pre-purchase survey of her in Vancouver in 1976 when she was on the Alaska run for Xanadu Cruises. She was actually owned at that time by a Seattle couple who also owned a first generation Boeing 747 used for the low cost charter market.
In those days she was an aged but beautiful little cruise ship with exotic Asian decor and very valuable furnishings and genuine Chinese artifacts. She had Greek officers with U.S. hospitality staff and Thai catering crew. The swimming pool was on the fore deck and she had two air conditioned excursion boats with Mercedes Benz engines as life boats which alone were worth a small fortune in those day
One could possibly say that the Xanadu was one of the early pioneer cruise ships on the Alaska run but was in financial trouble as the market was opening up to the big boys such as Holland America and Princess who desperately needed a new market due to the decline in American passengers cruising the Med after the Achille Lauro incident.
The owners were also on the hook with the bank, Seattle First National, for the ship plus the aircraft and a host of other liabilities including a Porsch company car. We had the Xanadu appraised by an independent ship valuer in Europe who came up with a value of $1.9 million U.S. In negotiations with the bank they indicated that they would accept an offer of $2.1 million for the ship and would release the owners from all other liabilities. Not a bad deal for the owners but they became greedy and thgings turned nasty. After several trips to the ship and the bank in Seattle we withdrew our offer of $2.1 million.
A year later, the bank and owners were in a battle royal in the U.S. Courts and I was asked to be a witness for the bank in the proceedings. They were very generous with the travel expenses so I was quite happy to fly out three times for court proceedings and my boss was happy with their per diem fees.
The bank won but appeals took until late 1978 before an auction could go ahead. My boss sent me to Seattle to bid on the ship and was still prepared to pay the original $2.1 if necessary but instead of selling the ship as is, the auctioneers decided to sell the ship in accessory lots such as the furnishings, fittings, life boats etc and ended up netting around $900,000 for the total assets. The stripped ship with engines was bought by a fish cannery in Alaska for workers accommodation and that was the last I heard of the good ship Xanadu until your post except that my boss did form a Xanadu Cruise Lines company in the Bahamas as a consolation and hired the Thai catering crew for another of his ships.
Thanks for bringing back the memory.
In those days she was an aged but beautiful little cruise ship with exotic Asian decor and very valuable furnishings and genuine Chinese artifacts. She had Greek officers with U.S. hospitality staff and Thai catering crew. The swimming pool was on the fore deck and she had two air conditioned excursion boats with Mercedes Benz engines as life boats which alone were worth a small fortune in those day
One could possibly say that the Xanadu was one of the early pioneer cruise ships on the Alaska run but was in financial trouble as the market was opening up to the big boys such as Holland America and Princess who desperately needed a new market due to the decline in American passengers cruising the Med after the Achille Lauro incident.
The owners were also on the hook with the bank, Seattle First National, for the ship plus the aircraft and a host of other liabilities including a Porsch company car. We had the Xanadu appraised by an independent ship valuer in Europe who came up with a value of $1.9 million U.S. In negotiations with the bank they indicated that they would accept an offer of $2.1 million for the ship and would release the owners from all other liabilities. Not a bad deal for the owners but they became greedy and thgings turned nasty. After several trips to the ship and the bank in Seattle we withdrew our offer of $2.1 million.
A year later, the bank and owners were in a battle royal in the U.S. Courts and I was asked to be a witness for the bank in the proceedings. They were very generous with the travel expenses so I was quite happy to fly out three times for court proceedings and my boss was happy with their per diem fees.
The bank won but appeals took until late 1978 before an auction could go ahead. My boss sent me to Seattle to bid on the ship and was still prepared to pay the original $2.1 if necessary but instead of selling the ship as is, the auctioneers decided to sell the ship in accessory lots such as the furnishings, fittings, life boats etc and ended up netting around $900,000 for the total assets. The stripped ship with engines was bought by a fish cannery in Alaska for workers accommodation and that was the last I heard of the good ship Xanadu until your post except that my boss did form a Xanadu Cruise Lines company in the Bahamas as a consolation and hired the Thai catering crew for another of his ships.
Thanks for bringing back the memory.
MV Xanadu Restoration to glory!
Well I think its about time on this forgotten beauty for a update.
According to maritime matters, and Peter Knego the ship is undergoing restoration, and could possibly be moved to San Fransisco. Her hull, and superstructure has recently been painted, and according to the blog her interior, and decks are undergoing restoration. Great News for the maritime world. A Beauty has been saved!!!
http://maritimematters.blogspot.com/2009/12/restoring-faithful-quick-visit-to.html
photo copyright Christopher Willson 2010
Well I think its about time on this forgotten beauty for a update.
According to maritime matters, and Peter Knego the ship is undergoing restoration, and could possibly be moved to San Fransisco. Her hull, and superstructure has recently been painted, and according to the blog her interior, and decks are undergoing restoration. Great News for the maritime world. A Beauty has been saved!!!
http://maritimematters.blogspot.com/2009/12/restoring-faithful-quick-visit-to.html
photo copyright Christopher Willson 2010
Attachments
According to maritime matters the restoration is ongoing and nearing the end. It is said she will soon be moved. It has been great to see a fine example of maritime history preserved whilst so many have gone. It seems she has been renamed Aurora and may even take the title as one of the worlds biggest yachts.
A website dedicated to her,
http://aurorayacht.wordpress.com/
A website dedicated to her,
http://aurorayacht.wordpress.com/
Attachments
The MV Xanadu now renamed Aurora HAS BEEN SAVED and has arrived as of yesterday. source:maritime matters
http://maritimematters.com/2010/08/aurora-transfer-under-way/
http://maritimematters.com/2010/08/aurora-transfer-under-way/
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