Cohen said he is 72 and his wife, Clodagh, who goes by Clo, is 55. Fortress contends Cohen’s Connecticut residence is worth about $20 million, while the 220-foot yacht is worth $50 million.

Real estate mogul Charles Cohen stands to lose his prized possessions—including luxury yachts, Ferrari collection, and priceless artwork—as creditors circle his crumbling $2 billion (£1.48 billion) ...