Billionaire auto dealership mogul Herb Chambers agreed to purchase the Lady May, a luxury yacht upon which Trump adviser Steve Bannon was arrested in 2020, from the bankruptcy estate of federally-indicted Chinese exile Guo Wengui.
Herb Chambers Yachting LLC, a company owned by the eponymous businessman, submitted the winning bid of $24 million to buy the 150-foot vessel out of Chapter 11, according to filings Friday in the US Bankruptcy Court for the District of Connecticut.
The private sale agreement “represents the highest and best bid obtained after an extensive marketing campaign” and competitive bidding process that began in late ...
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