Gasim’s Villa denied stay order in court battle
09 Apr 2015, 3:30 PM
The Villa Group has been denied a stay order on the tourism ministry’s seizure of two lagoons in a court battle that could bankrupt one of the Maldives’ largest companies.
The civil court yesterday rejected a request by Villa, which is owned by opposition Jumhooree Party (JP) leader Gasim Ibrahim, for the stay order, paving the way for the tourism ministry to take control of the lagoons.
Villa Group is currently locked in a series of lawsuits against the state over the seizure of several leased properties as well as a notice to pay US$100 million allegedly owed as unpaid rent and fines.
The opposition claims the government is unfairly targeting Gasim’s business interests following the JP’s split from the ruling coalition. The government denies any political motivation behind the moves.
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