Court to hear disposal of yacht to recoup 1MDB billions

KUALA LUMPUR: The court will hear the application for the disposal of the luxury yacht Equanimity today, a move, if successful, will mark the first effort by Malaysia to recover the billions diverted from the troubled 1Malaysia Develoment Bhd (1MDB).

1MDB and its two subsidiaries 1MDB Energy Holdings Limited and 1MDB Global Investment Limited as well as the government of Malaysia have named the owner of the ship Equanimity of Cayman Islands as the sole defendant in the suit.