Supreme Court orders US$30 million payout
The payout was ordered to a company linked to JP leader Gasim Ibrahim.
01 Apr 2019, 9:00 AM
The Supreme Court has ordered the state to pay US$29.9 million to World Link Travel over the refusal to hand over three islands for resort development in line with a 2007 agreement.
The long-running dispute started when WLT – a local company partly owned by Jumhooree Party leader Gasim Ibrahim’s Villa conglomerate – sued the defunct state-owned Airport Investments Maldives for US$112 million as compensation in addition to US$16.9 million paid in advance.
WLT appealed at the Supreme Court after the civil court refused to award compensation. But the lower court had ordered the state to reimburse the advance payment, a judgment that was upheld on appeal by the High Court.
On Thursday, the Supreme Court ordered the state to pay more than US$13 million incurred as finance costs within a month.
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