Equanimity sale gains RM6.4 million in sheriff's commission

PUTRAJAYA (Dec 10): The sale of the 1Malaysia Development Bhd (1MDB) linked super yacht, the Equanimity, resulted in approximately RM6.4 million or US$1.5 million in sheriff’s commission for the courts.

During the opening of the 2020 legal year today, Attorney General Tan Sri Tommy Thomas in his speech said the commission was levied against the RM523 million selling price of the yacht.

“Chief Justice may be interested to learn that the Sheriff’s commission for the private treaty sale of the “Equanimity” was in excess of RM6.4 million (or US$1.5 million) which was paid in December 2019. Certainly a record in our legal history,” said Thomas.

A sheriff’s commission is a commission levied by the court on the court mandated sale of an asset.

To recap the government had sold the yacht to Genting Malaysia Bhd for US$126 million or RM523 million last year.

The yacht was believed to have been purchased by fugitive businessman Low Taek Jho, better known as Jho Low for US$250 million or RM1.42 billion, who used money linked to 1MDB to purchase the vessel.

Click here for more property stories.