3 islands cleared for sale over Heavy Load’s debt

1 day ago

The Civil Court has authorised the Bank of Maldives (BML) to sell the head lease rights to three islands in Laamu Atoll, which were mortgaged against a USD 29.5 million (approximately MVR 455 million) debt owed by Heavy Load Maldives. In an order issued on October 28, the court approved the sale of the head lease rights to L. Fares, including