The wreck of the Solway Harvester will begin to be demolished today.
The vessel will be broken up by the Laxey Towing Company which was awarded the tender for the job.
Seven fishermen from Galloway in Scotland were killed after the scallop dredger sank in January 2000.
Since then the boat has remained in Manx waters while it was decided if legal proceedings should be brought.
Infrastructure Minister David Cretney says it is the end of a chapter:
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