According to Knoxvillebiz.com website "a little more than a year after Christensen Yachts began construction of a $20 million Loudon County boat yard to build "super-yachts" on Tellico Lake, work on the facility has come to a stop."
Mr Henry Luken, lead investor in the Christensen project, said "...the market collapsed on the very wealthy people who buy these boats" and added "I had three guys (customers) who lost a half a billion in one week."
Mr Luken also said "I'm spending my own money, none of it is borrowed, so I have to be careful how I use it".
Mr Luken expects work to begin again at the shipyard before the end of the year.
The 2008 163ft Christensen "Casino Royal" that belongs to the yacht builder and owner of Millenium Super Yachts John Staluppi, was launched in August 2008...and is already for sale.
Knowvillebiz.com article here
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