THE US Department of Justice’s (DoJ) forfeiture withdrawal action acknowledges the finality of the declaration of Equanimity’s ownership by the Malaysian Admiralty Court, said the legal team representing the Malaysian government in the super yacht case.

“In legal terms, Equanimity Cayman and Low Taek Jho have no right to the Equanimity. Any public assertion of ownership of the Equanimity by the fugitive Low has therefore no value and should be ignored,” the lawyers said in a statement today.

The lawyers said the filings on December 19 to 21, 2018 by DoJ in the US District Court for the Central District of California confirmed that the forfeiture action against the Equanimity by the US had been publicised in accordance with the law.

It also confirmed that Low’s company Equanimity (Cayman) Ltd had filed a claim to the Equanimity in that action and that all such claims to the Equanimity have now been withdrawn, the team said.

On June 15, 2017, the DoJ had filed the forfeiture action against the Equanimity on the basis that Low purchased the Equanimity with funds stolen and embezzled from 1Malaysia Development Bhd (1MDB). On October 11, 2017, Equanimity Cayman filed a claim to the Equanimity in that forfeiture action.

“Following the change in government in Malaysia in May 2018, the 1MDB companies rightfully asserted their claim to the Equanimity, consistent with DoJ’s allegations in the forfeiture action, and the Equanimity was arrested by the Admiralty Court in Malaysia,” the lawyers said.

“Despite all due process, Low did not enter a claim to the Equanimity, and never challenged the right of the 1MDB companies to assert legal ownership in the Malaysian court proceedings.”

The lawyers said after the withdrawal of the US DoJ’s forfeiture action on December 21, 2018, there is now no claim to the Equanimity by either DoJ, or Equanimity Cayman, or Low.

“The declaration by the Malaysian Admiralty Court on October 19, 2018 that the Equanimity is owned by the 1MDB companies remains totally unchallenged. It is now clear beyond any doubt that no one has any competing claim to the Equanimity, including Low.”

The lawyers added that the judicial sale of the Equanimity by the Malaysian Admiralty Court gives a “clean and clear” title to the purchaser, and is recognised in admiralty jurisdictions around the world. – January 4, 2019.