HC denies stay order on Maafaru Airport Project

High Court has denied Millennium Capital Management Private Limited’s request for a stay order on N. Maafaru Airport Project.

Millennium Capital Management’s request for a stay order follows termination of the contract between the State and the company to develop an airport in Maafaru.

The project was handed over to Sun Siyam Resorts on April 26 following the termination of contract with Millennium Capital Management.

Millennium Capital Management and the State is in the midst of a civil lawsuit filed by Millennium Capital Management over the issue.

The original request for a stay order pending outcome of the court case was requested by Millennium Capital Management with the Civil Court.

The request was denied by Civil Court, following which Millennium Capital Management made the request with High Court.

High Court ruled that Millennium Capital Management had not done sufficient work to develop an airport in Maafaru. It said that though the company had been ready to start construction work on the airport, they had said they wouldn’t be able to complete the project and make the airport operational in time as stated in the contract.

High Court also said in its ruling that it also needed to consider the rights of the defendant when granting such an order. It said that the rights of the State which will be protected by denying the stay order outweighed the rights of Millennium Capital Management which will be protected by granting the stay order.

Millennium Capital Management is owned by Hamid Ismail – who is serving a prison sentence for embezzlement.