KUALA LUMPUR,. A US federal court has supposedly approved an agreement to auction the Bombardier Global 5000 jet said to be bought by fugitive Malaysian Jho Low with money allegedly from 1Malaysia Development Berhad (1MDB).
In a statement by its attorneys, Global One Aviation (Global 5000) Ltd, which is a claimant to the jet currently grounded in Singapore, said that the agreement was reached with the US Department of Justice (DOJ) and the court approval was made on October 31.
The jet was the subject of a civil action in the US.
“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 United States until the legal rights of the various parties can be determined through proper judicial proceedings.
”This agreement has been reached in cooperation with the United States 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 stated, without mentioning whom it was representing.
The statement was issued by one Gus Sellitto from a London-based firm called Byfield Consultancy.
It added that the rights and protection granted by the US is crucial, as the jet is currently in Singapore.
The statement was also critical of the Malaysian government’s seizure of superyacht Equanimity, which was also said to have been bought with 1MDB funds by the Penangite whose real name is Low Taek Jho.
“As recently demonstrated by the Malaysian government’s illegal seizure of the yacht Equanimity, the unlawful commandeering of an asset outside of 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.
”With this agreement reached with the Department of Justice, and approved by a US federal court, Global One Aviation (Global 5000) Ltd. is confident that the parties’ rights with respect to the jet will remain protected and that resolution of these claims will be determined in a proper court of law,” the statement stated,.
The Global 5000 is currently parked at Singapore’s Seletar Airport while bidding is open for superyacht Equanimity, docked off the coast of Selangor.