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(November 28): The bid for the superyacht Equanimity, formerly owned by the fugitive financier Jho Low, was lifted today.
According to the Financial Times, sealed offers will be opened Thursday at the High Court of Malaysia, but will remain confidential, according to Jeremy Joseph, 1MDB lawyer and the government.
The successful bidder may take possession of the yacht within the next two to three weeks.
However, if no bid matches the estimated value established by an independent expert appointed by the courts, Malaysia could launch a second round of auctions or engage directly with a potential buyer who has submitted a "sufficiently high" bid. reported FT.
Bidders were forced to pay a $ 1 million deposit to qualify for the auction, Joseph added.
The 300-foot Equanimity was moored at the Langkawi naval base.
Equanimity is one of a number of assets, including Picasso's paintings and bespoke jewelery, which would have been purchased with the misuse of 1MDB. It is alleged that $ 4.5 billion has disappeared from the fund, reported FT.
The US Department of Justice said that Jho Low had used the misappropriated product of a 1MDB bond issue arranged by Goldman Sachs and a loan issued by Deutsche Bank to acquire Equanimity.
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