Maldives tax authority drops Villa lawsuits
Villa Group’s bank accounts were unfrozen on Wednesday, having been frozen, unfrozen then frozen again in recent years.
26 Apr 2018, 9:00 AM
The Maldives tax authority has withdrawn all lawsuits filed against Jumhooree Party leader Gasim Ibrahim’s Villa Group to recover MVR2.9 billion (USD$188 million) in unpaid rents and fines for its properties.
The withdrawal of all four lawsuits follows a favourable Supreme Court verdict, in which it ruled the government had unlawfully revoked agreements for three islands and two lagoons in 2015.
The suits against Villa Shipping and Trading, Villa Holidays, Villa Hotels and Maanenfushi Private Limited were withdrawn on Wednesday at the Maldives Inland Revenue Authority’s request.
Villa Group’s bank accounts were unfrozen on Wednesday, having been frozen, unfrozen then frozen again in recent years.
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