Bank of Maldives has announced a public auction of Rahaa Resort in Laamu Atoll after the Civil Court authorised the sale of property mortgaged against a USD 11 million loan that Heavy Load Maldives Private Limited failed to repay. The bank set a minimum sale price of USD 45.63 million for the 100-room resort on Fares and Kudafares.
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the bank has set a minimum sale price of USD 45.63 million, approximately MVR 703.6 million
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a minimum sale price of USD 45.63 million, approximately MVR 703.6 million
Word for word from the report in MM TV (English). Open the report
The 100-room resort operates on Fares and Kudafares
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a dispute over a USD 11 million loan granted to Heavy Load Maldives in December 2016
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Bank of Maldives (BML) has announced a public auction of Rahaa Resort in Laamu Atoll after the Civil Court authorised the sale of property mortgaged against a loan that Heavy Load Maldives Private Limited failed to repay.
Word for word from the report in MM TV (English). Open the report
The Civil Court subsequently authorised the sale.
Word for word from the report in MM TV (English). Open the report