Jubilee Sailing Trust’s Tall Ship Lord Nelson to be Auctioned to Pay Off Charity’s Debts

STS Lord Nelson

The tall ship Lord Nelson is being offered for sale at an online auction by the global advisory and investment firm Gordon Brothers, acting on behalf of Richard Lewis and Sarah O’Toole, the joint administrators of Jubilee Sailing Trust Limited.

Jubilee Sailing Trust was forced into administration in August 2022, after one of the charity’s principal creditors ‘threatened imminent legal proceedings to reclaim their owed credit’, JST says.

The JST has so far operated through its two subsidiaries, Jubilee Sailing Trust Ltd and Jubilee Sailing Trust (Tenacious) Ltd. Tall ship Tenacious remains operational, the charity has stressed.

Lord Nelson was built in 1985 and is the first tall ship in the world designed to accommodate personnel of all physical abilities to sail alongside the ship’s crew. The tall ship includes accessible toilets, a speaking compass, braille and a power-assisted bridge.

Lord Nelson was decommissioned in Bristol, UK in 2019.

The online auction ends on 30 June 2023 at 2pm, with the opening bid set at £150,000.

Thanks to Alaric Bond for contributing to this post.

Comments

Jubilee Sailing Trust’s Tall Ship Lord Nelson to be Auctioned to Pay Off Charity’s Debts — 2 Comments