KUALA LUMPUR: Despite being embroiled in litigation, the super yacht Equanimity can be sold in transparent ways as there is a need to transform the ship into monies.
In saying this, Attorney-General (AG) Tommy Thomas informed that the yacht, linked to fugitive businessman Low Taek Jho or Jho Low, would be sold by the end of this year.
“We expect the process to be completed within three to four months pending nobody contests the ownership of the yacht in our court.
“The money that we get (from the selling) will be transferred into a fixed bank account which will be granted to any party who can successfully establish ownership of the yacht in the civil suit,” he said during a special session at the 2018 International Malaysia Law Conference, here, today.
It was reported on Aug 7 that 1Malaysia Development Berhad (1MDB), among others, claimed ownership over The Equanimity, which is currently docked at the Boustead Cruise Centre in Klang, Selangor.
Other claimants are two of 1MDB subsidiaries and the government of Malaysia who believe their money was misappropriated in the purchase of the RM1 billion yacht.
It was also reported that the A-G’s Chambers had invoked the Admiralty jurisdiction of the High Court of Malaya in Kuala Lumpur against the yacht; and on Aug 6, the court issued a warrant against it.
In a separate matter, Thomas said Jho Low should appoint a lawyer to set aside the warrant against the super yacht.
“He should appoint a good shipping lawyer to set aside the order in our Court,” he said.
Thomas said this when asked about Jho Low’s comment that Prime Minister Tun Dr Mahathir Mohamad ‘hijacked’ the legal proceedings of other countries in order to acquire the Equanimity.