EXCLUSIVE: Herbert Wigwe’s Daughter Moves BVI Court to Restore Dissolved Offshore Company Over $6.5m Luxury Yacht

EXCLUSIVE: Herbert Wigwe’s Daughter Moves BVI Court to Restore Dissolved Offshore Company Over $6.5m Luxury Yacht

By TrackNews Online

The daughter of the late former Access Holdings Chief Executive Officer, Herbert Onyewumbua Wigwe, has approached the High Court of Justice of the British Virgin Islands (BVI) in a series of legal proceedings seeking to restore a dissolved offshore company that holds a luxury yacht valued at $6.5 million.

The daughter, Otutochi Channel Uzoamaka Wigwe, alongside Uchechukwu Nwabueze Wigwe, initiated three court actions in January and February 2026 concerning Grosvenor Marine Ventures Ltd., a company incorporated in the British Virgin Islands that jointly belonged to the late Herbert Wigwe and his wife, Doreen Chizoba Wigwe.

Court documents exclusively obtained by TrackNews Online indicate that the proceedings were designed to secure legal control of the company’s shares, restore the company to the register and facilitate the sale of its sole asset, a luxury yacht named Chitochi.

The company was struck off the BVI Register of Companies and dissolved on November 5, 2024, over the non-payment of annual fees.

HOW THE LEGAL BATTLE BEGAN

Herbert Wigwe and his wife, Doreen, died in a helicopter accident on February 9, 2024. The court filings state that both were domiciled in Nigeria at the time of their deaths.

According to the documents, all issued shares in Grosvenor Marine Ventures Ltd. were held jointly in their names, and they were the company’s only directors.

The company was incorporated on March 7, 2012, under registration number 1699812.

Its principal asset was the Chitochi, a 2016 Custom Line 108 luxury yacht measuring approximately 33 metres in length.

The vessel was located in Fort Lauderdale, Florida, where American yacht brokerages advertised it for sale at $6.5 million.

The court documents describe the yacht as a depreciating asset requiring substantial expenditure on maintenance, insurance and other upkeep to preserve its value.

They warned that continued expenses and the inability to exercise the company’s ownership rights placed the estates of the deceased couple at risk of financial loss.

THREE COURT ACTIONS IN FOUR WEEKS

The first claim, numbered BVIHCOM2026/0032, was filed on January 6, 2026, concerning the estate of Doreen Chizoba Wigwe.

The second claim, BVIHCV2026/0004, followed on January 15, 2026, concerning the estate of Herbert Onyewumbua Wigwe.

In both proceedings, Otutochi Wigwe and Uchechukwu Nwabueze Wigwe applied to be appointed administrators for the limited purpose of collecting and securing the shares held in Grosvenor Marine Ventures Ltd.

The applications sought emergency grants under the applicable Virgin Islands legislation and probate rules.

The proposed grants were intended to enable the administrators to have their names entered into the company’s register of members and exercise the rights attached to the shares to protect the value of the estates.

The filings stated that applications for full Grants of Letters of Administration were being prepared. Both applications were accompanied by certificates of urgency.

The court subsequently granted the requested limited representation, according to the third claim.

COURT ASKED TO RESTORE DISSOLVED COMPANY

The third claim, numbered BVIHCOM2026/0068, was filed on February 2, 2026.

In that action, Otutochi and Uchechukwu, acting as joint administrators of the two estates, asked the court to restore Grosvenor Marine Ventures Ltd. to the Register of Companies.

The application was brought against the Registrar of Corporate Affairs under sections 218(1)(d) and 218(2)(f) of the BVI Business Companies Act, 2004.

The claim followed a Grant of Letters of Administration ad colligenda bona defuncti issued on January 22, 2026, pursuant to orders made by Justice Theresa Hadad on January 15, 2026.

The limited grant enabled the applicants to collect and preserve assets pending further administration of the estates.

The restoration claim was supported by an affidavit from Uchechukwu Nwabueze Wigwe and an affirmation from Otutochi Channel Uzoamaka Wigwe.

The documents also identified Global Corporate Consultants Group, Inc. as the registered agent willing to act for the company following its restoration.

The applicants undertook to file the company’s register of members, register of directors and beneficial ownership information within 14 days of restoration.

They also undertook to pay the applicable restoration fees, government licence fees, penalties and the Registrar’s legal costs.

According to the claim, the applicants were not aware of any person who would suffer prejudice if the restoration order was granted.

$6.5 MILLION YACHT SALE AT THE CENTRE OF THE CASE

A central issue in all three proceedings was an offer to purchase the Chitochi at what the applicants described as an attractive price.

The court documents stated that the proposed transaction was conditional on completion taking place on or before January 31, 2026.

However, the filings explained that the yacht could not lawfully be sold while the company remained dissolved and the rights attached to its shares could not be exercised by duly authorised representatives.

The applicants argued that Grosvenor Marine Ventures Ltd. first needed to be restored to the register before a lawful sale or other disposition of the vessel could proceed.

The restoration claim was filed on February 2, 2026, two days after the stated deadline for completing the proposed transaction.

This timing raises questions about the status of the original offer, whether the buyer extended the deadline and how the transaction ultimately proceeded.

The available court documents establish the applicants’ stated intention to sell the yacht, but further documentation would be needed to determine the precise terms under which the transaction was completed.

SALE REPORTED COMPLETED IN MARCH

In March 2026, specialist yachting publication SuperYacht24 reported that international yacht brokerage IYC had announced the completion of the sale of the Chitochi.

According to the report, IYC’s sales and charter consultant Mark Elliott handled the transaction on the seller’s side.

The yacht had previously been listed at $6.5 million.

The reported completion of the sale represents a significant development in the effort to realise value from the asset held by Grosvenor Marine Ventures Ltd.

However, the reported asking price should not be confused with the final sale price, which has not been established by the information contained in the court filings examined for this report.

Similarly, the available documents do not independently establish the final proceeds of the sale or how the money is being held and administered for the benefit of the two estates.

A SEPARATE FRONT IN THE WIGWE ESTATE MATTER

The BVI proceedings represent a separate legal process involving an offshore company and an asset that was not identified in the Nigerian estate proceedings described in the supplied documents.

Herbert Wigwe’s estate has previously been the subject of disputes in Nigerian courts, where members of his extended family challenged arrangements under his will and reportedly lost.

The British Virgin Islands proceedings, however, focused on the corporate status of Grosvenor Marine Ventures Ltd., the administration of its shares and the preservation and sale of its principal asset.

The case highlights the legal and administrative complications that can arise when assets are held through offshore companies whose directors and shareholders die before corporate compliance issues have been resolved.

In this instance, the company’s dissolution over unpaid annual fees created an additional obstacle to dealing with the yacht, even as maintenance and insurance costs continued to accrue.

The court applications sought to address that obstacle through limited grants of administration and the restoration of the company.

TrackNews Online obtained the three claim forms on which this report is based. The documents provide a detailed account of the legal steps taken by the applicants, while the subsequent report of the yacht’s sale indicates that the transaction was eventually completed.

The final sale price, the net proceeds and the subsequent distribution or administration of those proceeds remain separate questions that require further documentary confirmation.

TrackNews Online will continue to follow developments concerning the administration of the estates and the handling of assets held through offshore corporate structures.