Malaysia Airlines withdraws lawsuit following out-of-court settlement
07 Mar 2010, 6:04 PM
Malaysia Airlines has withdrawn a long-running US$35.5 million lawsuit against Air Maldives in the Malaysian High Court, after the Maldivian government withdrew a US$90 million counter-claim in the Singapore International Arbitration Centre.
Malaysia’s national news agency Bernama reported that an out-of-court settlement had been reached between the two parties after discussions on 14 February. The Maldivian cabinet held a meeting to discuss such a settlement in late December.
According to Bernama, the agreement was reached after “intense negotiations” between Malaysian Airline Systems (MAS) executives Dr Mohd Amin Khan (General Manager of Network and Revenue) and Dr Wafi Nazrin Abdul Hamid (General Manager of Corporate and Legal Services), and State Finance Minister Ahmed Assad and Attorney General Husnu Suood representing the Maldives.
Last week Suood told parliament that the Air Maldives case presented “legal challenges” and there was little documentation in favour of Air Maldives.
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