A US federal court has approved an agreement between Global One Aviation Ltd (Global 5000) and the Department of Justice to sell a private jet in Singapore linked to Low Taek Jho, who is at the heart of the 1Malaysia Development Bhd scandal.

Global 5000, in a statement released via its attorney, said the approval was given yesterday.

It said the parties have agreed that a formal bidding process to sell the Bombardier Global 5000 aircraft should be undertaken immediately, and the proceeds held in escrow in the US until the legal rights of all parties involved are determined by the courts.

The agreement was reached in cooperation with the US government, to ensure that the parties’ legal rights are maintained and the jet’s value is not depleted while the claims are being resolved, it said.

“These rights and protections afforded by the US are all the more important given that the jet is currently located in Singapore.

“As recently demonstrated by the Malaysian government’s illegal seizure of the yacht Equanimity, the unlawful commandeering of an asset outside sovereign legal proceedings is not only an affront to the rule of law and international comity, but also greatly diminishes the fair market value of the asset.”

The Malaysian Insight previously reported that the court application by the DoJ was filed despite Malaysia seeking the aircraft, which is parked in a hangar at Singapore’s Seletar Airport.

The whereabouts of Penang-born businessman Low, better known as Jho Low, remains a mystery despite his spokesman having issued statements on the seizure of Equanimity several months ago.

He has maintained that Malaysia’s actions are a trial by media. – November 1, 2018.