Malé, Maldives – Civil Court of Maldives has dismissed the lawsuit against Addu City mayor Ali Nizar by Bank of Maldives (BML) for failing to repay an MVR 1.2 million demand loan.
According to the court verdict, Nizar paid off the loan to the bank after BML sued him to take over his house and restaurant which had been mortgaged. BML had requested the court on Wednesday to dismiss the suit. The Civil Court yesterday dismissed the suit.
Bank of Maldives sued Nizar for failing to repay a loan of MVR 1,248,000 he and his wife Leena Jabir had taken.
Nizar took out the loan when Nizar’s was a member of the 18th parliament. He also took out the loan by mortgaging his land called “Hiyala” in Hithadhoo, all the buildings on the land and all the properties of “Cress Garden” restaurant he used to run in Hithadhoo.
BML sued for the outstanding balance of the loan, service charge, interest and penalty all at once.
During the time when news of Nizar’s loan first surfaced, there were text messages between the him and former Vice President Ahmed Adeeb requesting for financial assistance.
These messages were recovered from Adeeb’s phone by Faraday Forensics in the United Kingdom.
In July 2014, Nizar sent a message to Adeeb saying he needed a big favour from Adeeb to pay off a major debt. Nizar said he needed MVR 250,000 for the time being. In August of that year, Nizar also texted Adeeb to seek a loan of USD 70,000.