Overview
Governments in Europe and overseas are scrambling to seize the yachts of Russian billionaires in order to punish Vladimir Putin for his invasion of Ukraine. In an article from The Atlantic titled, "A Yacht Owner’s Worst Nightmare," Steptoe partner Steven Welk was quoted on the upkeep challenges faced by the US government in seizing yachts and other particularly high-maintenance assets, as well as the jurisdictional issues that occurred during his tenure as the asset-forfeiture chief in the U.S. attorney’s office in Los Angeles.
The full article can be read at The Atlantic.