Buying an unused/unpaid fee, yacht from a boat yard

I met someone who got a bargain in these circumstances.

He found out how much the boatyard was owed then managed to track down the owner and convinced him the boat was virtually worthless.

He then went to the yard and told them he was considering buying the boat from the owner but he would only pay a certain amount in lieu of the outstanding charges.

Once he'd agreed a figure he bought the boat very cheaply and off he went.
 
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