Maldives to pay US$15m for scrapping Nexbis border control deal
Malaysia-based security firm Nexbis Solutions has won an arbitration award of US$15 million as compensation for the Maldivian government’s termination of a US$39 million border control project.
21 Dec 2016, 9:00 AM
Malaysia-based security firm Nexbis Solutions has won an arbitration award of US$15 million as compensation for the Maldivian government’s termination of a US$39 million border control project.
Deputy Attorney General Ahmed Usham confirmed that the International Arbitration Court in Singapore ruled “a few days ago” that the cancellation of the agreement with Nexbis in August 2013 was illegal.
“The Attorney General’s office is now reviewing the ruling and will decide on what course of action to take,” he told the Maldives Independent.
According to local media, Nexbis sought US$269 million in damages. The details of the arbitration process remain unclear.
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