Government’s seizure of Villa’s resort properties unlawful, civil court rules
Shortly after Gasim’s Jumhooree Party formed an alliance with the main opposition Maldivian Democratic Party in February and launched an anti-government campaign, the tourism ministry terminated the lease agreements of two lagoons and three islands leased to Villa and subsidiary companies for resort development.
14 Dec 2015, 9:00 AM
The civil court has ruled that the government’s seizure of two lagoons leased to Jumhooree Party leader Gasim Ibrahim’s Villa company in February was unlawful.
Shortly after the JP formed an alliance with the main opposition Maldivian Democratic Party in February and launched an anti-government campaign, the tourism ministry terminated the lease agreements of two lagoons and three islands leased to Villa and subsidiary companies for resort development.
In May, the central bank froze the bank accounts of Gasim’s Villa Shipping and Trading and subsidiary companies over US$90.4 million allegedly owed as unpaid rent and fines for the properties. The bank accounts were released after the JP backed the government in several crucial votes in parliament and agreed upon a two-year payment plan.
The civil court meanwhile ruled on Thursday that the tourism ministry’s cancellation of the leases for Kaafu Vaavedhdhi and Bolidhuffaru was invalid and in breach of the terms of the lease agreements.
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