AG: Equanimity to be liquidated if nobody else lays claim

The Equanimity will be liquidated if nobody else besides 1MDB lays claim over the superyacht in the next two to three months, said attorney-general Tommy Thomas.

Following this, the government would keep the funds in a fixed deposit.

Thomas said the legal process would be done through the Admiralty High Court in Kuala Lumpur and the government would apply for the necessary orders.

The yacht, which is estimated to be worth RM1 billion, has been linked to fugitive financier Jho Low, who is accused of purchasing the vessel with funds misappropriated from 1MDB.

Thomas said if Jho Low wished to claim ownership of the Equanimity, then he should engage a Malaysian lawyer.

The AG also maintained that Malaysian authorities had secured the yacht through proper legal means, which Indonesian and US authorities agreed to through admiralty laws.

"We have this admiralty law which has been recognised and practised worldwide," he said.

"Would the vessel be here unless we had already obtained it legally and with which the US and Indonesia agree?" he asked.

Thomas was asked to comment on Jho Low's claims last Sunday that the vessel, which arrived in Port Klang last week, had been “hijacked” by Malaysia.

"Jho Low can apply to set aside the arrest warrant (on the Equanimity) but he must make his case before the court," said the AG, adding the order it obtained was done ex-parte (one side).

Aviation law

Thomas also said that while his chambers had identified a firm in Singapore to represent Malaysia in the recovery of assets, the chambers was also identifying firms to represent the country in proceedings in the US as well as the UK.

Thomas said the precondition in selecting the firms was that they were highly respected and have a good rapport with the judiciary.

It was previously reported that the AG Chambers had hired the firm of Tan, Rajah & Cheah to represent Malaysia.

The AG was also asked on whether he knew of efforts to acquire Jho Low's private jet which the Singapore authorities had seized.

He said this part of aviation law would be looked at and the Bar here could assist if they had the expertise.

On the issue of 1MDB investigations, Thomas said he had yet to receive any new investigation papers either from the police or the MACC.

He said the last one he received was on SRC international Sdn Bhd, a former subsidiary of 1MDB, from the MACC during the Hari Raya festive period. - Mkini