STO withdraws civil action against Meridiam

State Trading Organization (STO) has withdrawn a civil action brought by the company against Meridiam Services.

The case, involving a sum of money amounting to 19 million Rufiyaa, was withdrawn by a request filed at the Civil Court, over which the Court made its decision last Thursday.

Civil Court judgment, pronounced by Judge Abdullah Jameel Moosa, said that STO had filed a request to cancel the claim as some issues to be decided by the STO Board were not decided. The Judgment said that there were no grounds upon which the claim could be pursued further.

The Judgment also said that STO couldn’t decide the issues in question due to a change in the company Board, as per the letter sent to the Civil Court by STO requesting the cancellation of the case.

STO brought a claim against Meridiam, a company owned by Riyaz Rasheed, MP for Vilufushi Constituency, saying that Meridiam defaulted on the payment for oil sold on credit. The claim sought an amount of 19.3 million for the price of oil sold plus fines.