Tycoon Dmitry Pumpyansky's yacht was seized in Gibraltar after JP Morgan said he didn't pay a $20M loan, per Bloomberg.
including the U.S. to give the proceeds of assets seized from Russian oligarchs for military and humanitarian aid to Ukraine.
Priority for proceeds from the Axioma sale will go toward "covering the outstanding debt to JPMorgan and then the cost of arrest," Hollyer told Axios via email on Monday. "Any surplus funds will be retained in an account with the Supreme Court Gibraltar. These funds will be frozen until such time that sanctions are resolved," he added. "As I understand it, the law does not allow for distribution to any third party."Editor's note: This article has been updated with comment from Hollyer.
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