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Steve Jobs' yacht freed in time for Christmas

After being impounded, the Venus is heading home. The notoriously controlling Jobs forgot one thing while working on the mega yacht: A contract with the designer.

The Venus designed for one of the world's most successful icons is now free from debt collectors.
One More Thing/YouTube Screenshot by Chris Matyszczyk/CNET

Steve Jobs' yacht, a floating goddess of a dinghy dubbed the Venus, was freed from impound in the Netherlands in time for Christmas. It's a typical feel-good holiday story, except that it involves a dispute over an extravagant boat and millions of dollars between the estate of an American icon and a renowned French designer.

Apparently when superstars of their respective industries get together to collaborate on hundred million dollar projects like the Venus, they don't necessarily sign very explicit contracts.

A lawyer for Starck told the AFP that the two were "very close" during the period that they would get together every six weeks to work on honing the boat's design and had no formal agreement for the job.

Starck apparently felt he was owed a flat fee of 9 million Euros for the job, while lawyers for the Jobs estate claim he was owed a percentage of the total cost of the hundred million Euro yacht equal to six million Euros. The dispute wound up getting Venus impounded in Amsterdam at Starck's request late last week.

Jobs' estate paid a security deposit of an undisclosed amount into a bank account just before Christmas to free the Venus, the estate's attorney told AFP.

The ship will be shipped via another ship to the U.S. where Jobs' family will take over her be-iMac-ed bridge, assuming everything else is paid off.