The superyacht Equanimity now belongs to Malaysia government, the court declared

The superyacht Equanimity was taken to Port Klang on Aug 7 2018 after the Indonesian authorities handed it over to Malaysia.PHOTO REUTERS
The superyacht Equanimity was caught in Indonesia and brought to Malaysia on Aug 7, 2018. Pic: REUTERS

KUALA LUMPUR (BERNAMA) – The High Court in Kuala Lumpur on Friday (Oct 19) declared that the superyacht Equanimity belonged to the Malaysian government with state fund 1Malaysia Development Berhad (1MDB) as the beneficiary owner, when its registered owner failed to appear in court to claim the vessel.

“To that effect, the government is now free to sell the super yacht,” said lawyer Sitpah Selvaratnam, who is leading the legal team for the government, 1MDB and two others who had applied for a judgment in default against the registered owner of Equanimity over the sale of the superyacht.

Ms Sitpah said the decision was made in chambers by Judicial Commissioner Khajidah Idris.

“The court today has declared that the two 1MDB companies which are 1MDB Energy Holdings Limited and 1MDB Global Investment Limited to be the legal and beneficial owner of the vessel. Therefore, indirectly the government of Malaysia be the ultimate beneficiary of these two companies.”

“Now, the vessel can be sold without any legal restriction,” she said.-BERNAMA

Graduate with a Master of Mass Communication. 10 years working experience in the media and broadcasting.

more recommended stories