Seeking Return of Jho Low’s Jet Only if It is Worthwhile

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US court approves sale of Jho Low’s jet.

Malaysia will only seek to bring back the US$35 million (RM146 million) business jet linked to Jho Low if it is worthwhile, says Tun Dr Mahathir Mohamad.

The Prime Minister was commenting on the US federal court’s decision to allow the Bombardier Global 5000 aircraft, which was impounded by Singapore authorities last year, to be auctioned off.

“I don’t know whether it’s worth taking it back now. The plane cannot be flown. Only if it’s worthwhile we’ll bring it back,” he said.

The proceeds from the auction will be held in escrow by the US until the rights of various parties over the jet are determined by the courts.

The jet is currently being held at a private company’s hangar at Seletar Airport in Singapore.

The US court ruling said an open bidding process would be established for the jet beginning 15 days after entry of the court order. The bidding will remain open for 25 days, following which the parties and the winning buyer will enter into a purchase agreement for the aircraft.

“With this agreement reached with the DoJ, and approved by a US federal court, Global 5000 is confident that the parties’ rights with respect to the jet will remain protected and that resolution of these claims will be determined in a proper court of law,” the statement issued by Global One Aviation (Global 5000) Ltd’s attorney said.

Global One Aviation is a trust that was established to hold the Bombardier jet in compliance with US laws, and it filed a claim over the aircraft in the DoJ’s suit to seize it.