German Shipyard Lürssen Subpoenaed in Banco Master Liquidation Case

The German shipyard Lürssen has been subpoenaed to provide documents and designate executives for testimony regarding potential business dealings with banker Daniel Vorcaro and other individuals linked to Banco Master. The subpoena was issued by Eduardo Felix Bianchini, the liquidator for Banco Master, as part of a liquidation process taking place in the United States under Chapter 15 of the bankruptcy code. This legal mechanism allows foreign liquidators to seek information and documents within the U.S. when a foreign bankruptcy process is recognized by American courts. The subpoena, issued on June 15, set a deadline of July 2 for the delivery of documents. Lürssen declined to comment on the matter, citing corporate policy.

The liquidator is seeking contracts, agreements, letters of intent, and records of financial transfers involving Banco Master, LetsBank, Banco Master de Investimentos, and Master Corretora De Câmbio, Títulos e Valores Mobiliários. The request also includes information on transactions with individuals whose assets were frozen by the Brazilian Central Bank, including Vorcaro, former partner Maurício Quadrado, and Luiz Antonio Bull.

While the subpoena focuses on business transactions, the reports mention the Nixie, a superyacht manufactured by Lürssen and once owned by Vorcaro. The vessel, valued at approximately 350 million euros or 2.1 billion reais, has a complex ownership history. It was originally ordered by Canadian businessman Patrick Dovigi, sold to Vorcaro, and later repurchased by Dovigi following the banker's arrest in November 2025. Dovigi subsequently sold the yacht to Nik Storonsky, the founder of the fintech Revolut. The vessel is currently the subject of a legal dispute between Storonsky and the British brokerage Cecil Wright and Partners, which is suing for 17.5 million euros in unpaid commissions. Neither Revolut nor the brokerage provided comments on the dispute.