Regarding the events that took place in the Yacht Builders & Designers tent on Friday, Oct. 26, thank you for trying to correct the highly inaccurate account you published in both your print and online editions.

However, your information is still misleading and in need of correction and clarification.

As you have now stated correctly, All Ocean Yachts was not involved with the owner or the dispute. The owner was a direct client of the shipyard, he's not American, and the contract wasn't governed by U.S. law.

As Moore and Company stated, they asserted the right to bring suit in the U.S. because warranty work was being done in the U.S. 

The additional facts you failed to note are: 

1. Inace wanted to handle the points in dispute through arbitration in Brazil under Brazilian law, as the parties agreed in their contract; 

2. the judgment, which was entered by default, is for an amount less than half of what is stated in your account and represents the maximum amount that the owner thought he could justify, not an amount determined by a judge or jury after full presentation of each side's position; and 

3. other warranty work not in dispute was being carried out.

I can state that every Inace Explorer Yacht that I have been involved in the build of -- which, over the past 18 years, has been quite a few -- when sold by the owner has sold for between 35 percent and 55 percent more than its original build price, despite being between four and 10 years old at the time of sale. 

This has made them not only good investments in terms of quality of life and enjoyment, but given these times, solid investments overall. M/Y Catalonian Spirit is for sale at this time and you can check the value the owner has placed on the vessel. Taking the asking price into account, she appears to also be a solid investment, as well.

This event could have far reaching consequences with regard to non-U.S. builders using shipyards in the U.S. for warranty work in the future. The U.S. is already considered a highly litigious country to do work in, and this judgment could increase that perception in the world yacht building community.

John S. DeCaro, president

All Ocean Yachts

To read the Triton Today story in reference, click here.