MP Moosa Manik

The Civil Court has ordered Heavy Load Maldives Private Limited, owned by the family of Hulhu-Henveiru MP Reeko Moosa Manik, to pay MVR 1.3 million to Maldives Finance Leasing Company Private Limited (MFLC), following failure by Heavy Load Maldives to make payments for several speedboats as per the pertinent agreement.

The court said in its ruling issued today that the agreement was terminated on 14 August 2012, after Heavy Load Maldives failed to make payments to MFLC for speedboats Heavy Speed, Heavy Speed 1, and Heavy Speed 2 leased on finance leasing basis, for which Moosa Manik (Reeko Moosa) of Maafannu Gulhazaaruge and Migdhaadh Moosa acted as guarantors.

The court ordered Heavy Load Maldives to pay the total outstanding amount as at 31 October 2013, MVR 1,314,549.14, to the court within three months (made up of $85,249.62 as rent, fines, and liquidation damages, MVR 26,000 as lawyers’ fees, and MVR 25 as court fees).