Auction for superyacht ‘Equanimity’ now closed

Ian Molyneaux
By Ian Molyneaux November 28, 2018 17:53

Auction for superyacht ‘Equanimity’ now closed

The auction for the seized superyacht Equanimity has now formally closed after a month of highly secretive bidding.

It is expected that the sealed envelopes containing the bids will be opened tomorrow (29th October) by the Judicial Commissioner in Malaysia.

The process for the bidding was formally set out by the Malaysian High Court, Kuala Lumpur on the 29th October.

Potential owners were instructed to make a refundable deposit of $1,000,000 dollars to ensure that only serious buyers were considered.

The selling brokers, Burgess Yachts has confirmed that the highest offer and number of bidders is likely to remain confidential.

The 91-metre superyacht has been at the centre of a fraud investigation against a former Malaysian government official Jho Low. Low is alleged to have fraudulently used the state’s 1MDB investment fund’s money to indulge in an “exuberant” lifestyle. He denies the charges and his whereabouts are unknown to authorities.

On the 19th October the High Court confirmed that 1MDB and its two subsidiaries, MDB Energy Holdings Limited and 1MDB Global Investment Limited, were the rightful owners of Equanimity. The decision was made after the yacht’s registered owner, Equanimity Cayman failed to attend court.

Ian Molyneaux
By Ian Molyneaux November 28, 2018 17:53

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