Singapore HC stays termination of GMR Male airport contract
Agencies: Singapore, Dec 03 2012, 12:33 IST
Our decision was based on legal advice we got from our lawyers in UK and Singapore," Maldives President Mohamed Waheed's press secretary Masood Imad said.
The Singapore High Court today stayed the Maldives government's decision to terminate the USD 500 million contract awarded to a GMR-led consortium for modernising the Male international airport.
Asked about the government's reaction to the Singapore court's order, Imad said, "We believe the judge was incorrect in interpreting the law".
He added, "Where compensation is adequate, an injunction cannot be issued. A court cannot issue such an injunction against a sovereign state.
"The laws of Singapore and Britain is very clear. It does not permit issuing an injunction where compensation is adequate".
The official said Maldives have initiated the arbitration process and "GMR will be compensated".
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