Football Association of Maldives (FAM) now owes nearly MVR 150 million to various parties.
Football Association of Maldives (FAM) now owes nearly MVR 150 million to various parties.
The debt, which previously stood at MVR 85 million, has increased after a court order ruling that FAM must pay back MVR 50 million to a Korean company that former FAM President Bassam Adheel Jaleel had entered an agreement with.
The agreement between Korea's T Kuing Construction and FAM is for the development of football grounds in ViliMale' and Hulhumale'. With FAM failing to settle agreed payments, Civil Court ruled last week that the association must pay USD 3.2 million (MVR 52.1 million) to the company.
State airline Maldivian has also sent invoices and letters asking for payments of MVR 7.4 million for trips made by FAM in 2016 and 2017.
FAM failed to comply with court orders, with some cases now at implementation stage.
FAM's Normalization Committee, meanwhile, has decided to appeal the court ruling to pay the Korean company.
When asked if there is a risk of bankruptcy due to debts by Mihaaru News, Normalization Committee Chair Ahmed Zuhoor said that the committee is working to prevent such a thing from happening.
In a press conference held last month, committee member Ismail Siman had also said that cases with a window to appeal would be appealed. In the instance that rulings can no longer be appealed, those rulings will be discussed with the companies involved to seek concessions in debt repayment.
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