High Court: State not required to pay USD 112 mn compensation to WLT

High Court has ruled State-owned Airport Investment Maldives (AIM) is not required to pay USD 112 million to World Link Travels (WLT) – a company which Jumhoory Party Leader Qasim Ibrahim has a stake in – in compensation for violating agreement to lease three islands to the company.

WLT filed its lawsuit against AIM asking for USD 112 million in compensation back in 2014.

Civil Court had ruled that AIM was not required to pay the USD 112 million, but was required to recompense WLT for the money it paid the company in advance.

High Court issued its ruling upon appeal this Tuesday that it had been proven to court WLT paid AIM USD 16.9 million in lease payment, which it needed to be recompensed for.

But it agreed with the original Civil Court ruling that AIM was not required to pay USD 112 million in compensation saying there was no judicial or legal basis for the claim.

The verdict was issued with the unanimous vote of the judges.