Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 7): Burgess has been appointed as exclusive central agent for the sale of the US$250 million (RM1 billion) Equanimity, owned by fugitive businessman Low Taek Jho.

A check on Burgess website showed that the High Court of Malaya has appointed Burgess to assist with the sale of the 91.5m or 300ft super yacht.

This follows the approval by the High Court, sitting as an admiralty court, on Friday (Oct 5) to appoint a central broker and an appraiser for the Equanimity, after hearing submissions by lawyers representing 1Malaysia Development Bhd (1MDB) and the government on the same day.

Lawyer Sitpah Selvaratnam, who is representing 1MDB, was reported as saying on Friday that it is hoped the Equanimity would have a new owner and be out of Malaysia by early December.

According to the Burgess website, the sales process will follow strict guidelines, but essentially shall be by the submission of sealed bids by qualified potential buyers, to be opened by the Sheriff of the High Court in November or December this year.

"In accordance with admiralty law, the judicial sale will provide the buyer with an internationally recognised ownership title free of mortgage, attachment and all encumbrances," it added.

The website stated that Equanimity was built by Oceanco in the Netherlands in 2014 to accommodate up to 20 to 22 guests in 10 to 11 suites in addition to 28 crew.

"Her interior was designed by Andrew Winch Design using a variety of exotic materials. Her amenities include an impressive beach club and health centre with gym, pilates studio, sauna, hamman, plunge pool and beauty salon. Other amenities and equipment include a hospital, a fully certified helipad, two 10.5m Hodgdon tenders and a 20 sq m swimming pool with jets.

"Equanimity is powered by two MTU 20v 4000M73L engines providing a maximum speed of up to 20 knots. At cruising speed, her range is 5,000 nautical miles," said Burgess.

The super yacht is reportedly among more than US$1.7 billion in assets that the US claims were acquired by Low, commonly known as Jho Low, and his accomplices with money they siphoned from 1MDB.

Low, while he never held any official role at 1MDB, was said to exert great influence over the fund. His current whereabouts are unknown but the Malaysian authorities have issued an arrest warrant for him. Low, whose Malaysian passport has been revoked, has previously denied any wrongdoing.

A representative for Low has said the handing over of the Equanimity yacht to Malaysia was illegal and in violation of Indonesian and US court orders.

The Cayman Islands-flagged vessel is currently docked at the Boustead Cruise Centre in Port Klang, having arrived on Aug 7 after being handed over by Indonesian authorities. Equanimity was seized off the coast of Bali by Indonesia in February at the request of the US authorities as part of a multi-billion dollar corruption probe launched by the US Department of Justice over 1MDB.
 

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