One of the two 1MDB subsidiaries that had won the claim on the superyacht Equanimity has a larger stake from the vessel than the other, according to the Kuala Lumpur High Court’s orders.

According the documents obtained by Malaysiakini, the court declared that Global Diversified Investment Company Limited (formerly known as 1MDB Global Investment Limited) has 53.57 percent shares in the vessel.

Meanwhile, 1MDB Energy Holdings owns the remaining 46.43 percent of shares.

“Upon the sale of the vessel, the proceeds of sale of the vessel be distributed and paid to 1MDB Energy Holdings Limited and Global Diversified Investment Company in accordance with, and to the extent of, their respective ownership in the vessel as declared in paragraphs (2) and (3) above, and consistent with the order as to priorities hereafter to be made by this honourable court,” the court declared on Oct 19.

The court had previously appointed the London-based firm Burgess as the central broker to facilitate the sale of the yacht. Bids are expected to open at the end of the month and will continue for a month.

The decision to award ownership of the yacht to the two 1MDB subsidiaries was made on Oct 19, after 1MDB and government lawyers argued that the subsidiaries are the rightful owners to the yacht and no defendants had filed an appearance.

The lawyers had based their claims on allegations made by the US Department of Justice (DOJ), which had filed for the civil forfeiture of the yacht at a California court last year.

The DOJ claimed that Penang-born businessperson Low Taek Jho had siphoned US$250 million in 1MDB funds to purchase the vessel.

The 91.5-metre long vessel is the 54th largest yacht in the world, featuring amenities such as a helicopter landing pad, gymnasium, cinema, sauna, steam room, an experiential shower, and a plunge pool. It had won the “Best in Show” award at the Monaco Yacht Show in 2014.


Read more: ‘Stolen’ 1MDB Funds: The DOJ Lawsuit Revisited