Yacht Tours ordered to pay USD 29 million, in Alidhoo island dispute
Yacht Tours is required to pay USD 5.6 million in unpaid rent
Signboard outside the Justice Building in capital city Malé
The Civil Court on Wednesday has ruled against Yacht Tours, a company owned by opposition supporter Abdulla Jabir, in a USD 29 million case involving its lease of Alidhoo island Haa Alif atoll.
The Civil Court ruled, in the company’s dispute with the state, that Yacht Tours is required to pay USD 5.6 million in unpaid rent and USD 23.4 million in unpaid fines.
Alidhoo was given the contract to develop the island as a tourist resort in May of 2005. Presiding Judge Ali Abdulla, ruled that there is sufficient reason for the company to pay off the amount, as the lease agreement and other relevant documents show.
The case seeking compensation for unpaid rent and fines was filed by the Maldives Inland Revenue Authority. Judge Ali Abdulla ordered the company to finish paying off the sum within a year, starting July. Yacht Tours is also required to pay rent and fine sums for this duration as well.
Yacht Tours had previously asked that a stay order on the matter be issued, so as to halt the need to pay lease rent, after damages caused by adverse weather in 2014. Yacht Tours has also filed a dispute against insurance provider Allied Insurance, for not providing coverage for said damage.
Former lawmaker Jabir is currently aligned with the Joint Opposition, particularly the Maldivian Democratic Party, and now serves as political advisor to former president Mohamed Nasheed, the party's presidential candidate for the upcoming elections.
