Supreme Court of Maldives has ordered the state to pay USD 13 million to World Link Travel (WLT) Private Limited, for failing to handover 3 islands to be developed as resorts. WLT is a subsidiary company of Villa Group, owned by Speaker of Parliament Qasim Ibrahim
WLT filed a case against a joint venture company established by several state-owned enterprises, for failing to handover 3 islands to be developed as resorts, as per the agreement. WLT was seeking USD 112 million as compensation and also wanted the return of USD 16.9 million paid as an advance payment. Previously, the Civil Court and the High Court had ruled that WLT must receive the advance payment in full. However, the courts denied the compensation payment as requested by the company.
The Supreme Court ruled WLT must receive the advance payment as ordered by the lower courts. The superior court also ruled WLT is entitled to a further 13 million as compensation for financial cost.
Previously, the Supreme Court had also ruled the islands were taken from WLT in violation of the agreement and that the agreement is still in effect.