Lawyers move in to liquidate Sensation Yachts, NZ

1:52 AM Tue 3 Feb 2009 GMT

'Sensation was responsible for a series of luxurious yachts, including MY Sensation.' .

New Zealand luxury super yacht manufacturer, Sensation Yachts faces being put into liquidation at the request of its own lawyers.

Auckland law firm Garry Pollak & Co. has filed an application with the High Court to put the company into liquidation, to be heard February 13.

When asked about the application, the firm's principal, Garry Pollak said he could not comment because Sensation Yachts was also their client.

'In 30 years of legal practice I've never actually done this to a client, that's for sure. It's highly embarrassing for everyone,' Pollak said.

Sensation has been embroiled in a number of disputes with its employees in recent years and Pollak & Co specialises in employment law.

The high profile boat building company, which has manufactured some of the most expensive pleasure craft ever built in this country and at one time employed around 500 staff, is owned by controversial businessman Ivan Erceg.

Erceg did not return calls from the Sunday Star-Times and is understood to be dividing his time between bases in Auckland and Monaco.

Last week the Sunday Star-Times revealed that the company's sprawling Auckland boat building yard and head office complex, which is also owned by Erceg, had been put on the market at the request of the property's first mortgagee, Hongkong Bank.
In September the courts in Australia ordered Sensation's Australian arm to be put into liquidation.

by Media Services

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