The bidding process for the billion-ringgit superyacht Equanimity will begin on Monday (Oct 29) and run until Nov 28.
1Malaysia Development Bhd Group’s (1MDB) counsel Ong Chee Kwan confirmed the matter after meeting High Court (Admiralty Court) Judicial Commissioner Khadijah Idris in chambers on Friday (Oct 26).
“Those who are interested to bid need to pay US$1 million as deposit,” he said.
Also present were counsel Jeremy Joseph and Senior Federal Counsel Alice Loke who acted for the government.
“Today we finalised the putting up of advertisement of the vessel in the local and international media and the terms they had to fulfil with the (court’s) sheriff and the Kuala Lumpur High Court.
“What is important is that they will have a clean title (to the vessel). The deposit is to ensure that we get serious bidders,” Ong and Joseph told reporters outside the court after meeting Khadijah.