Revolut CEO Nik Storonsky sued over €17.5m yacht commission

Nik Storonsky, the founder of the digital bank Revolut, is facing a lawsuit in the London High Court filed by luxury yacht brokerage Cecil Wright & Partners. The firm is seeking a €17.5 million commission regarding the acquisition of a 102-meter superyacht built by the German shipyard Lürssen.

According to court documents, Cecil Wright & Partners advised Storonsky on the acquisition after he expressed interest in a vessel while waiting for a custom build. However, the brokerage claims Storonsky bypassed them by purchasing the vessel directly from the seller, Patrick Dovigi. The firm argues it is entitled to a 5% commission as it was the "effective cause" of the transaction. Storonsky's representatives have stated that the legal action is without merit.