Under what legal process was the Equanimity purchased by Genting Malaysia?

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Genting Malaysia Acquired the Superyacht Equanimity Through a Judicial Sale Process

Genting Malaysia confirmed its purchase of the superyacht Equanimity for US$126 million (RM514.6 million) via a judicial sale process. This acquisition was formally approved by the Kuala Lumpur High Court of Malaya, acting under its Admiralty jurisdiction. The transaction included the yacht itself, along with its existing consumables such as bunkers, fuel, and lubricants.
Approval of Offer on Sheriff's Terms

The Admiralty Court in Kuala Lumpur granted approval for Genting Malaysia's offer to purchase the Equanimity. This approval was specifically granted on the Sheriff’s Terms and Conditions, signifying adherence to the established legal framework for such sales. The offer was made by Genting Malaysia on March 26, 2019, through a private direct sale, as permitted by a prior court order.
Private Direct Sale Under Court Order

The purchase of the Equanimity was conducted as a private direct sale. This method of transaction was executed pursuant to an Order issued by the Kuala Lumpur High Court of Malaya. The court's Admiralty jurisdiction provided the legal basis for overseeing and sanctioning this specific sale process.
Expected Completion of Acquisition

The acquisition is anticipated to be completed by the end of April 2019. Genting Malaysia's wholly-owned subsidiary will undertake the finalisation of the sale. This timeline follows the court's approval of Genting Malaysia's offer, as detailed in the company's filing to Bursa Malaysia.

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Under what legal process was the Equanimity purchased by Genting Malaysia?

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