Court gives green light for appointment of brokers, appraiser for superyacht to go under the hammer.
The Admiralty Court has approved the appointment of a central broker and an appraiser for the Equanimity, paving the way for the sale of the superyacht.
Judicial Commissioner Khadijah Idris made the order after hearing submissions by lawyers representing 1Malaysia Development Berhad (1MDB) and the government on Friday (Oct 5).
Sitpah Selvaratnam, the private admiralty law specialist appointed to oversee the matter by the attorney-general, said today’s ruling meant both parties could now proceed with the intended sale.
“The vessel is going to come out for sale pretty soon.
“The appraiser based in the United Kingdom can start evaluating the worth of the boat which will be confidential, while the broker can start receiving bids,” she was quoted as saying.
“The buyers will bid and we will choose the best buyer and come back to court. It is a niche market, so the bids can come and the sale be done within a month. Hopefully, we can sell the vessel by mid-November or early December, and she leaves the waters by the end of December.”
Sitpah said the appointed brokers and appraiser had international reputations and were well-known in the yacht industry.
When asked if there would be buyers for the superyacht, Sitpah expressed confidence.
She added that Jho Low, who supposedly owns the RM1 billion luxury yacht, had not appeared to challenge its sale.
The vessel is currently docked at the Boustead Cruise Centre in Port Klang, having arrived there 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 US authorities as part of a multi-billion dollar corruption probe launched by the US Department of Justice over 1MDB.