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KUALA LUMPUR (Nov 1): A US federal court has approved the agreement between the Department of Justice (DoJ) and Global One Aviation (Global 5000) Ltd for the sale of the Bombardier Global 5000 jet linked to businessman Low Taek Jho, to ensure the parties' legal rights with respect to the jet are maintained.
Low is also known as Jho Low. Free Malaysia Today (FMT), quoting a statement issued by the attorney of Global 5000, reported today US district judge Dale S. Fischer gave the approval yesterday.
"The parties have agreed that a formal bidding process to sell the jet should be undertaken immediately, with the proceeds of the sale held in escrow in the US until the legal rights of the various parties can be determined through proper judicial proceedings.
"This agreement has been reached in cooperation with the US government to ensure that the parties' legal rights with respect to the jet are maintained, and that the jet's value is not depleted while these claims are appropriately resolved," the statement said.
According to FMT's report today, the US$35 million (about RM147 million) jet has been parked at Singapore's Seletar Airport since it was impounded by Singaporean authorities in 2017.
"It is reportedly part of some US$1 billion in assets allegedly acquired with funds misappropriated from state investment arm 1MDB (1Malaysia Development Bhd)," FMT reported. — theedgemarkets.com
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