‘Equanimity’ will be sold before end of March 2019 – lawyer

The Sheriff of the Admiralty Court will seek the necessary court orders to commence the second phase of the judicial sale by private treaty of superyacht ‘Equanimity’ for closing of the sale no later than March 31, 2019.

“The nine digit (US$) asking price will be available on application, once court approval is obtained,” said a a statement from a legal team representing the Malaysian government, 1Malaysia Development Berhad (1MDB) and two of its subsidiaries.

“The Sheriff of the Admiralty Court is of the view that proceeding with the second stage of the judicial sale process would be beneficial in securing the optimum value for the Equanimity” it said of the luxury vessel that had once belonged to fugitive Malaysian businessman Low Taek Jho or Jho Low.

On Aug 24, the Admiralty Court in Kuala Lumpur ordered the sale of the Equanimity.

As part of this judicial sale process, the Equanimity was made available on Oct 29, 2018 to receive offers by sealed bids, through Burgess, the central brokers appointed by the court.

The statement said this part of the judicial sale process was held open for one month, and much interest to purchase the Equanimity was recorded.

The wide publicity and advertisement for the sale, through invitation for public tender by sealed bids, was an essential aspect of the judicial sale process to transfer clean title to the purchaser, said the statement.

The Sheriff of the Admiralty Court has now considered the various aspects of the offers received at the closing of submission of bids on Nov 28, 2018.