MIDI was forced to accept a €43 million deal to return Manoel Island after the government’s legal threats brought it to the brink of insolvency, MIDI told its shareholders in a circular issued on Monday, TimesofMalta.com reported. The starkly worded circular traces MIDI’s account of how negotiations for the return of Manoel Island progressed, detailing how it found itself holding a weak hand as a result of the government’s legal threat to scrap the entirety of the concession signed in 2000.
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