The Lands Authority is currently conducting a verification of MIDI plc’s claims regarding the payments and expenses related to Manoel Island, covering the annual rent outlined in the concession agreement, restoration costs for Fort Manoel and various other infrastructural investments made on the island.
This was confirmed in MIDI’s latest statement, which formally responded to the Government, the Lands Authority and the Transport Authority, following a second judicial letter concerning its emphyteutic concession for the Manoel Island and Tigné Point development.
In its response, the company “categorically rejected the allegations” against it, reaffirming its legal position that it is entitled to an automatic extension of the completion period as per the contractual terms. MIDI insists that “no breach of the deed of emphyteusis has occurred.”
The company said the Government’s claims are “premature and untimely.” It explained that the deadline to finish the project keeps getting extended every day MIDI waits for the final development permit for Manoel Island, which is still not issued.
Consequently, MIDI maintains that it has fulfilled its obligations, and that the Government’s threats to cancel the agreement or punish the company have no legal grounds and are “wholly vexatious.”
MIDI has urged the Government and the relevant authorities to cease making unfounded allegations, to recognise the automatic extension of deadlines and to “withdraw the threat of rescission of the deed of emphyteusis,” while reserving the right to pursue legal action to protect its interests.
Despite the dispute, MIDI stressed that discussions with the Government are ongoing, including the Lands Authority’s verification of the expenses and payments claimed by the company. MIDI reiterated its commitment to reaching a solution that aligns with the Government’s objectives for Manoel Island, while safeguarding its contractual rights.
The company assured the market that it will continue to provide updates on any material developments in this matter.
