Latest / Cork News Today | 2 Min News | The Daily News Now!
One Dollar Ship That Could've Been Worth Millions | Cork News
A seized drug-laden ship, the MV Matthew, sold for just one dollar after a record-breaking cocaine bust worth 157 million euros, sparking debate over missed revenue opportunities. A British firm proposed turning it into scrap for $3.9M or repurposing it for rice trade to earn $5–7M annually—but claims they were blindsided by Revenue’s swift sale. Revenue countered they received an April email but contracts were already finalized, citing regulatory hurdles and Panama title completion as critical steps. The case underscores chaotic asset management—and eight convicted men now face over 129…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.