YTM settles cases out of court


Yatch tours recently announced that they have settled 2 pending cases out of court which would have dragged on in legal process for years if the parties were not able to come to agreement on the issues. The first case which was settled out of court was the failed business partnership between YTM and MTDC on the island of Herethere. Both parties have lost considerable amount of money as tour operators were hesitant to do business with them when there were pending court cases against them. Now that the issue was solved, MTDC is frantically looking up for investors to sell a management contract of the island as Herethere is politically important to be a viable business.

The second case settled out of court was between the landlady of Vatavarreha and Jabir. With the money receved from MTDC to settle the earlier case, Jabir effectively bought the island from the landlady. The island of Vatavarreha is 150 room island and Yacht Tours says the island will be opened for guests in the coming year.

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