SYDNEY party boat Seadeck has been plunged into administration under mounting debts, The Daily Telegraph has reported. The $5 million party boat was a favourite among wannabe-socialite types and organised crime figures, but has stopped taking bookings, thanks to debts of up to $14 million. The 45-metre cruiser’s faux-luxury was...
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SYDNEY party boat Seadeck has been plunged into administration under mounting debts, The Daily Telegraph has reported.
The $5 million party boat was a favourite among wannabe-socialite types and organised crime figures, but has stopped taking bookings, thanks to debts of up to $14 million.
The 45-metre cruiser’s faux-luxury was a favourite among shadowy figures and ne’er-do-wells, including Michael Ibrahim who, according to police records, booked out the entire boat on occasion for alcohol and drug-fuelled parties.
At the heart of Seadeck’s problems were infighting that resulted in legal action, and restricted trading due to pandemic-related restrictions, the administrator’s report says.
The boat is currently moored at Cockatoo Island.
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