9 months to determine who owns Equanimity

The luxury yacht, Equanimity, arriving in Port Klang today.

KLANG: The 1MDB legal team appointed by the Attorney-General’s Chambers to represent both the investment firm and Putrajaya today said it would take six to nine months to determine who owns the 91m luxury yacht Equanimity.

Lawyer Jeremy M Joseph said the process could be completed sooner, depending on whether there had been any serious contest for ownership.

“But the courts will do that. Now, we are seeking the declaration (on ownership).

“We are also asking for an order for sale of the vessel because it is quite expensive to maintain the vessel,” he said in Port Klang today following the arrival of the superyacht from Indonesia.

Joseph said it would cost about RM3 million a month to maintain the yacht.

Equanimity arrived at about 12.15pm today at the Boustead Cruise Centre terminal in Pulau Indah. It was escorted by marine police patrol boats.

The US$250 million yacht, which is at the centre of a US investigation into 1MDB, earlier travelled from Tanjung Benoa port in Bali to Batam island before leaving for Malaysia yesterday.

It is believed that the Indonesian government, which seized the yacht at the request of US authorities early this year, decided to hand it over to Malaysia following a visit by Prime Minister Dr Mahathir Mohamad to Jakarta last June.

Joseph described the yacht as “classy” with its combination of timber and marble finishing.

Another lawyer representing the case, Sitpah Selvaratnam, said the legal team was in the yacht for about two-and-a-half hours.

“We are not in a position to tell you what exactly we found on the vessel,” she said.

She said the vessel was currently under the jurisdiction of the courts. Therefore, no one can move it and no activity can take place without the courts’ permission.

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