This follows the news that Moonen was declared bankrupt by a Dutch court last month.

At the time, reports suggested that the Dutch builder was close to finding a new financial backer.

The bankruptcy ruling shielded any potential new owner from becoming retroactively liable for debts incurred under the current one, Mexican steel company Altos Hornos de Mexico (AHMSA).

Moonen Yachts has had a tumultuous relationship with the steel giant, as the Mexican company faced financial and regulatory difficulties.

Last year, the bank accounts of Altos Hornos de Mexico were frozen, and the money tap for the shipyard was turned off.

The lack of financial support to pay wages and settle the required payments on the construction of one of Moonen Yachts' superyacht construction projects led the shipyard to declare bankruptcy.

The Baxters have replaced Altos Hornos de Mexico as owners.

Matthew, of Scottish origin, is a successful Australian businessman and entrepreneur, who in 1972 established the AM Group, a global privately owned group of manufacturing companies of which he is executive chairman.

The company made roller shutters for truck bodies and commercial and industrial buildings.

Today, AM Group's Australian operations comprise eight manufacturing businesses.

Louise and Matthew first discovered Moonen Yachts while sailing on Pittwater Harbour in Sydney where they came across the Moonen yacht, Aurora.

"It is a privilege to own a yard like Moonen," Matthew said.

"The brand has an impeccable pedigree.

"The yachts are true Dutch quality.

"The team is young. reliable, talented and very loyal to the company.

"These characteristics are fundamental for success.

"I realise that the yard has to re-energise.

"But we are well prepared with a strong strategic plan and a strong balance sheet.

"I see a promising future ahead."

The company has expressed confidence in the new investor to boost production of Moonen's steel yachts.

The yard aims to spec-build at least two to three yachts per year to shorten delivery times.

"We have trust in these new investors and have faith that they will establish a strong future for Moonen Yachts," Moonen's chief executive officer, Johan Dubbelman, said. "The 30 to 50 metre market is solid for well-built designs, and our plans are to increase production."

Dubbelman said Moonen currently had one 36-metre yacht in build.

"She's 50 per cent ready," he said.

"The focus is to have her on display at the Monaco Yacht Show 2020."

Dubbelman said the aim was to scale up production efficiently and start two new build projects in the coming six months.

"Following on with the current build, we will start a second 36 metre and a 44 metre, both new and future-proof timeless Moonen yachts with interiors designed by the award-winning renowned design houses, like Studio Indigo," Dubbelman said.

"By building on speculation, delivery times will be shorter and customisation still possible, which is an absolute advantage for our future clients."

The majority of the staff and workforce at Moonen Yachts have been reappointed.

To assure continuity, Moonen Yachts will reinforce the cooperation with long-term strategic partners and subcontractors.

In recent years, Moonen Yachts has delivered several yachts, including the 36-metre Brigadoon, winner of a 2018 World Superyacht Award.

The 31st running of Airlie Beach Race Week came to a close last week, with winners declared over multiple divisions.

Newcastle and Lake Macquarie boats made to the trip up north, with varying results. Tim Cummings' Lake Macquarie boat Kraken was second overall in the performance racing division, while Newcastle boat Mako, skippered by Greg Busch for the regatta, was third in cruising division 2.

A few local boats continued on to Hamilton Island Race Week, which wraps up on Saturday. Most of that fleet will move on to Magnetic Island Race Week on August 29.

Boat owners have been reminded to dispose of boats properly after the removal of a derelict 11-metre boat dumped on an emergency mooring at Camden Haven.

NSW Maritime executive director Mark Hutchings said Transport for NSW would seek to recover the estimated $20,000 in salvaging costs from the boat's owner.

"It is the responsibility of owners to dispose of their boats properly and to respect the various forms of moorings available," Hutchings said.

"A poorly maintained vessel can sink - polluting the waterways and the environment and become a hazard to navigation."