Civil Court has ordered Football Association of Maldives (FAM) to pay USD 3,382,000 (MVR 52.1 million) to a South Korean company, T Kuing Construction.
Civil Court has ordered Football Association of Maldives (FAM) to pay USD 3,382,000 (MVR 52.1 million) to a South Korean company, T Kuing Construction.
The agreement between T Kuing Construction and FAM is for the development of football grounds in ViliMale' and Hulhumale', with payments due for two invoices of USD 1,197,200 and USD 1,940,800. Together with the cost for reconstruction work in Hulhumale' of USD 122,000 and costs for work after changing company requirements of USD 122,000, a total of USD 3,382,000 is owed by FAM.
T-Kuing Construction even provided concessions following FAM's failure to pay as per the agreement. However, the funds remain unpaid even after the concessions were granted as per FAM's request.
The company then submitted a case to Civil Court claiming the due funds, as well as losses incurred of USD 2,529,200. This included a monthly charge of USD 202,920 in the 10 months since legal notice was issued, plus USD 500,000 as legal fees.
However, as the agreement signed on March 20, 2021 does not state that losses have to be covered, the Court ruled in FAM's absentia that USD 3,382,000 due for the work conducted by the Korean company be paid by the association within one month from October 1.
Prior to this agreement with T-Kuing Construction, FAM had entered another agreement with South Korea's Skywind Global for a USD 17 million project. This project also remains incomplete.
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