Mediterranean Aviation Company Limited (Medavia), has successfully reached an agreement with Luxury Living Technologies Limited, a company primarily active in the solar power field but also operating several restaurants and a hostel, resulting in the withdrawal of a garnishee order of an undisclosed amount against it.

The dispute, first reported in January last year, saw Luxury Living emphasising its obligation to maintain confidentiality while asserting that it had “a strong case backed by robust arguments to reject the claim being made against it.”

Luxury Living also serves as the guarantor of €8 million in bonds, maturing in 2028, which are listed on the Malta Stock Exchange’s Prospects Multilateral Trading Facility.

Previously co-owned by Jean Paul Busuttil, who was tragically shot and killed in Bidnija earlier this year, the company saw the appointment of his daughter, Sophie-Ann Busuttil, as Director just weeks after his death. She assumed the role at the age of 22.

As a result of the agreement, all ongoing legal proceedings have been withdrawn, bringing the matter to a complete resolution.

Luxury Living Finance plc, confirmed in its announcement that it will continue to focus on expanding its operations, confirming a strong business performance with a healthy annual growth rate.

As a result of this agreement, all ongoing legal proceedings have been withdrawn, and the matter has now been fully resolved.