Indonesian court: Return Equanimity to Jho Low, seizure invalid
Jho Low wins suit in Indonesian court, luxury yacht to be returned to him
ALUXURY yacht seized by Indonesian authorities must be returned to its rightful owner, an Indonesian court ruled yesterday, citing missteps by police in seizing the vessel.
The decision comes about six weeks after Indonesian authorities, acting on a request from the Federal Bureau of Investigation, seized the Cayman Islands-registered Equanimity, reportedly worth US$250 million (RM965 million), which was moored off the tourist island of Bali.
Its three dozen crew remain on the impounded ship.
Suits list US$1.7 billion in assets allegedly bought with funds which US officials are seeking to recover. Those assets include the 90m yacht purchased by Malaysian Low Taek Jho or Jho Low.
Low, whose exact whereabouts are unknown, challenged the seizure in court.
Yesterday, it sided with the Malaysian financier, calling the police action “invalid” and “unlawful”.
Indonesian authorities did not follow proper procedures concerning confiscation of assets sought by foreign authorities, it said.
“The Indonesian police acted beyond their power,” said presiding judge Ratmoho.
“(The court) annuls the seizure.” Police spokesman Setyo Wasisto said authorities would abide by the decision, but could not say when the boat would be returned to Low.
“We need to study the ruling first.”