A derelict ship that was once home to a floating restaurant that brought scores of tourists to Toronto’s waterfront has been sold and will be removed from its slip at the foot of Yonge Street within three weeks.

The M.V. Jadran, which was the long-time home of Captain John’s Restaurant, was sold by a federal court for $33,501 on Thursday under the condition that it be removed from the waterfront by Aug. 22, according to the Toronto Port Authority.

It is not immediately clear what the new owner plans to do with the ship, which has been vacant since the city shut off its water over more than $500,000 in unpaid taxes back in 2012.

The boat’s former owner Ivan “John” Letnik had previously challenged the legitimacy of the unpaid debt, saying that the city had no right to charge him property taxes on a boat that was in the water and therefore not on City of Toronto land..

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