Potential buyers can approach 1MDB directly to purchase luxury yacht
The Admiralty (High) Court has granted a varied order to allow potential buyers of the luxury yacht Equanimity to approach 1MDB directly, besides the appointed brokerage firm Burgess...
The Admiralty (High) Court has granted a varied order to allow potential buyers of the luxury yacht Equanimity to approach 1MDB directly, besides the appointed brokerage firm Burgess.
The order was given by judicial commissioner Khadijah Idris in chambers.
This was disclosed by 1MDB lawyers Jeremy Joseph and Ong Chee Kuan following the case being called up this morning, where the company sought a varied order to the Central Sales Agreement dated Dec 13 last year.
"With today's order, potential buyers can approach us (1MDB) or Burgess to help facilitate the sale of the ship. We also got Burgess' agreement on this matter," they said.
It was previously reported that on Oct 19, Khadijah ruled that 1MDB and its subsidiaries 1MDB Energy Holdings Ltd and 1MDB Global Investment Ltd are the rightful owners of Equanimity.
The US$250 million vessel, registered in Cayman Islands, is said to have been purchased by fugitive businessperson Jho Low, who is accused of being the mastermind in the 1MDB fund misappropriation scandal.
According to the US Department of Justice (DOJ) in 2017, the Equanimity was acquired by Jho Low using funds siphoned from 1MDB.
Malaysian authorities took custody of the vessel on Aug 6, after it was seized by their Indonesian counterparts.
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