Civil Court has ordered Fenaka Corporation to settle its outstanding debt of MVR 27.1 million owed to Apollo by paying a minimum of MVR 3 million per month, starting 1 August.

The ruling follows a lawsuit filed by Apollo on 18 August last year, seeking recovery of the unpaid amount for assets provided to Fenaka on credit. Apollo also claimed MVR 25,000 as trial expenses and requested a declaration entitling it to compensation for delayed payments.

On 24 November 2024, Judge Adam Zalif ruled that Fenaka was liable to pay MVR 27.1 million but rejected Apollo’s request for trial expenses and damages, citing insufficient proof and procedural limitations. The court allowed Fenaka three months to clear the debt in a lump sum, but the corporation failed to comply.

In April this year, Apollo petitioned the court to enforce the judgment. The new order permits Apollo to recover the debt in instalments, with the right to seek enforcement for any remaining balance if Fenaka defaults on monthly payments.

The court reaffirmed Apollo’s entitlement to the original verdict while maintaining that damages and additional costs cannot be pursued in a separate suit.