The Civil Court has ruled that the Housing Development Corporation (HDC) was justified in canceling its agreement with Sea Life Global project.
The agreement, which was for the development of 3,000 apartment units in Hulhumalé, was terminated after Sea Life submitted a forged performance guarantee from Credit Suisse and collected money from several Maldivians.
Following the termination on December 24, 2018, Sea Life filed a case against HDC, claiming the cancellation was unlawful and seeking compensation. However, on March 16, 2025, the Civil Court’s Heathrow Division ruled in favor of HDC, stating the termination was lawful and that no damages were owed to Sea Life.
HDC has reaffirmed its commitment to taking legal action against parties that violate agreements in similar projects.
The agreement, which was for the development of 3,000 apartment units in Hulhumalé, was terminated after Sea Life submitted a forged performance guarantee from Credit Suisse and collected money from several Maldivians.
Following the termination on December 24, 2018, Sea Life filed a case against HDC, claiming the cancellation was unlawful and seeking compensation. However, on March 16, 2025, the Civil Court’s Heathrow Division ruled in favor of HDC, stating the termination was lawful and that no damages were owed to Sea Life.
HDC has reaffirmed its commitment to taking legal action against parties that violate agreements in similar projects.
