Kuala Lumpur: Malaysian Airline System Bhd (MAS) is facing arbitration at the ICC International Court of Arbitration, Paris, after Air Maldives Ltd alleged that MAS had failed to perform its duties under a management agreement signed on Jan 16, 1996.
In a statement on May 16, MAS said it had received a letter from the secretariat of the Court of Arbitration giving notice of the arbitration proceeding initiated by Air Maldives.
It said the notice referred to the memorandum of understanding dated July 29, 1994, between the government of Maldives and Malaysian Helicopter Services Bhd (MHSB), now known as Nalur Corp Bhd.
The notice also referred to the shareholders agreement dated Oct 1, 1994, between the government of Maldives and MHSB, and the management agreement between MAS and Maldives Air.
"MAS is taking legal advice to challenge the claim," the national carrier said in a statement to Bursa Malaysia. MAS said the notice did not specify the amounts claimed by Maldives Air.
- The Edge Daily -
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