Equanimity owner hails Indonesia court ruling

(FMT) – The owner of superyacht Equanimity has welcomed the ruling by a Jakarta court that the seizure of the vessel linked to controversial Malaysian businessman Low Taek Jho is invalid.

In a statement to FMT, Equanimity (Cayman) Ltd said the ruling “upholds the rule of law and confirms that the FBI-instigated seizure of the vessel was improper and unlawful”.

“The incident is yet another example of the unjustified global overreach by the US government, which has gone to extreme and improper lengths to seize assets around the world while steadfastly avoiding having to prove that there are any merits to its case,” it said.

The US$250 million vessel was impounded by authorities in Bali on Feb 28. 

Indonesian police later announced that they were handing over the yacht to the Federal Bureau of Investigation (FBI).

Equanimity Cayman subsequently filed a lawsuit in Indonesia to stop the seizure, saying the yacht was not linked to any criminal case in the country.

Yesterday, the South Jakarta District Court ruled that there should be no confiscation if there was no proven crime.

The judge said the seizure was invalid and legally baseless, and that Indonesian police were wrong in seizing the yacht as the vessel was under the jurisdiction of the law and human rights ministry.

The US Department of Justice (DoJ) claims the Equanimity was bought with money stolen from state investment fund 1MDB.

Other assets linked to Low, better known as Jho Low, and sought by the DoJ include a private jet, a hotel, and real estate in New York.