YACHT broker Burgess has been appointed by the High Court as the central exclusive agent for the sale of the Equanimity, the luxury vessel owned by wanted businessman Low Taek Jho, reports The Edge Markets.

The appointment was made on Friday after submissions by lawyers representing 1Malaysia Development Bhd (1MDB) and the government in their bid to reclaim the 91.5m superyacht with luxury fittings.

Equanimity was transferred to Malaysia in August from the Indonesian authorities, which had detained the Cayman Island-registered yacht in February.

The seizure was done in Bali, under the civil forfeiture suits filed by the US’ Department of Justice to seize more than US$1.7 billion (RM7.05 billion) in assets that were acquired by Low and his accomplices, using funds allegedly stolen from 1MDB.

Putrajaya is hoping to sell the super yacht quickly – by end of this year at the latest – as its US$250 million value depreciates.

Low had said handing the Equanimity to Malaysia was illegal and an abuse of the law by Dr Mahathir Mohamad’s government.

Low, who is at large, has been charged “in absentia” with money laundering by Malaysian courts. – October 8, 2018.