IN THE DOCK
ONE of the ‘protagonists’ in the 1MDB saga, the ‘Equanimity’, berths at Port Klang after a 20-hour journey from Batam. Putrajaya secured ownership of the luxury yacht through the Mutual Legal Assistance treaties between Malaysia, Indonesia and the United
A-G SAYS SEIZURE WAS DONE PROPERLY ON THE INITIATIVE OF THE U.S. DEPARTMENT O USTICE
NAJIB SAYS HE DOES NOT KNOW ABOUT ‘EQUANIMITY’ BEING BOUGHT ALLEGEDLY USING 1MDB MONEY
ADMIRALTY COURT TO TAKE 6 TO 9 MONTHS TO DETERMINE OWNERSHIP OF THE US$250 MILLION VESSEL
PORT KLANG: It will be take six to nine months for the Admiralty Court to determine the ownership of super yacht Equanimity, said lawyer Jeremy Joseph.
However, the efficiency of the courts, especially the Admiralty Court in the case of Equanimity, may see the matter being expedited.
“It usually takes between six to nine months, but it could be sooner.
“It depends on whether there will be any serious contest on the ownership. The court will rule on this.
“We are seeking a declaration of ownership but we are also asking for an order for the sale of the vessel because it is quite expensive to maintain it.
“There will be formalities to maintain the vessel, so that must be sorted out,” he said in a press conference at the Boustead Cruise Centre here yesterday.
Joseph said it would take the government an estimated RM3 million monthly to maintain the vessel.
He said Equanimity would be sold through a court process called judicial sale to the highest bidder.
Joseph is part of a six-lawyer team led by Sitpal Selvaratnam, who were appointed by the Attorney-General’s Chambers, to initiate an Admiralty In Rem suit, as soon as the Equanimity docked at the centre yesterday.
(An action in rem is an action directly against property as a defendant.)