By Justin Ratcliffe

According to a newsletter issued by the Italian Ship & Yacht Brokers Association (ISYBA), a Fashion 85 cruising in June off the coast of Lazia, Italy, began taking in water in its stern and started to sink – it was only saved by an air bubble in the bow compartment that kept the yacht afloat. Badly damaged, it was rescued by a pontoon barge and brought into Civitavecchia port.

This was followed earlier this month by a potentially more serious incident. A Mangusta 107 named Bellissima suffered a fire on board while in dry dock at Cantieri Navali di Pisa. There are various theories as to how the fire started: from arson to an electrical short circuit. The vessel has been impounded by the Carabinieri and local authorities while investigations are under way.

The value of the charter yacht, which had been undergoing repair work, belongs to Fast & Fashion Yachts Srl and is only partially covered by the insurance. Fashion Yachts CEO Fabrizio Politi, 38 (famous also for his relationship with former Spice Girl Geri Halliwell) commented: “The boat belongs to the charter company but during a charter last year developed electrical problems. Not having the possibility to dry dock it in our own facilities, we entrusted the task to Cantieri di Pisa who were working on the main circuit board.” A worker at the shipyard said that the electrical power had been disconnected and a short circuit could only have come from the batteries.

The plot thickens: before being acquired by Fast & Fashion Yachts Srl, the yacht belonged to the current company president Carlo Maiocchi, who has appeared in court accused by a former employee of the company who is owed unpaid wages. The case continues.