The High Court has ordered a stay on the Bank of Maldives' (BML) planned sale of Raha Resort, which is developed and operated by Heavy Load Maldives, a company owned by former Deputy Speaker of Parliament and ex-MDP Chairperson Moosa Manik.

Raha Resort, located in Lhaviyani Atoll, spans the islands of Fares, Kudafares, and Boduhura. BML had announced the sale of the resort on 27 October, following a Civil Court ruling permitting the sale. The bank's announcement invited bids in three categories: for Fares and Kudafares separately, Boduhura separately, or all three islands together. The starting bid price was set at USD 23.2 million, with the islands' head lease valid until 2064.

On 19 May, Heavy Load Maldives filed an appeal in the High Court seeking a stay on the Civil Court's decision. The company argued that the permission to sell was granted without properly assessing the property's value.

Responding to the plea, the High Court issued a stay order, halting the execution of the Civil Court's decision. The ruling was made under Section 49 of the High Court's Civil Procedure Rules, citing potential grounds for reviewing the case. The stay will remain in effect until a decision is made under Section 68 of the High Court Rules.

The case was heard by a bench comprising Justices Mohamed Faisal, Hussain Majeed, and Mohamed Shaneez Abdulla, with Justice Mohamed Faisal presiding over the proceedings.