{"id":7695,"date":"2024-11-29T11:09:34","date_gmt":"2024-11-29T11:09:34","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=7695"},"modified":"2024-11-29T11:09:40","modified_gmt":"2024-11-29T11:09:40","slug":"macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/","title":{"rendered":"Macau Legend Development Announces Its Intention to \u201cvigorously contest\u201d the Accusations of the Cape Verde Government"},"content":{"rendered":"\n<p>The legal confrontation intensifies following a statement from <strong>Macau Legend Development (MLD) <\/strong>about its plans to &#8220;vigorously contest&#8221; the claims of the Cape Verde Government.<\/p>\n\n\n\n<p>The statement followed accusations from the Cape Verde Government, which asserts that Macau Legend Development failed to meet the set deadlines for the project, leading to the cancellation of the license for the planned construction.<\/p>\n\n\n\n<p>This means the group will also take control of assets that were previously transferred to its subsidiaries.<\/p>\n\n\n\n<p>In response to this decision, Macau Legend Development stated: \u201cThe Cape Verde Government is allegedly entitled to exercise the right to terminate the Convention and the Concessions, and to assume control of all assets previously assigned to the subsidiaries, as well as the assets already constructed by the subsidiaries, under the Investment Project.&nbsp;<\/p>\n\n\n\n<p>\u201cThe company is currently actively seeking legal advice in Cape Verde on the appropriate course of action and intends to vigorously contest these allegations to safeguard the interest of the company and its shareholders.\u201d<\/p>\n\n\n\n<p>Prime Minister <strong>Ulisses Correia e Silva<\/strong>, the <strong>Council of Ministers <\/strong>also signed a statement, which said: \u201cGiven that MLD flagrantly and repeatedly violated its obligations, the State of Cape Verde has no choice but to proceed with the termination of the contracts.&nbsp;<\/p>\n\n\n\n<p>\u201cThe State of Cape Verde gave MLD companies every opportunity to resume construction works, negotiate the sale of shares, or transfer their contractual position to a potential interested party to continue the project. Contractual violations committed by MLD occurred on several levels.\u201d<\/p>\n\n\n\n<p>One of the reasons for the delays was cited as the consequences of the COVID pandemic, although the agreement was signed back in 2015. However, the Government of Cape Verde rejected this explanation.<\/p>\n\n\n\n<p>Despite the growth of Macau&#8217;s gaming sector and the economy as a whole, the decision of the Cape Verde Government will be seen as a step backward for the region.<\/p>\n\n\n\n<p>Don&#8217;t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The legal confrontation intensifies following a statement from Macau Legend Development (MLD) about its plans to &#8220;vigorously contest&#8221; the claims of the Cape Verde Government. The statement followed accusations from the Cape Verde Government, which asserts that Macau Legend Development failed to meet the set deadlines for the project, leading to the cancellation of the [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":7696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[8,1],"tags":[10618,10624,10619,10621,10622,3513,10623,10620],"class_list":["post-7695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino","category-news","tag-asset-control","tag-council-of-ministers","tag-delayed-implementation","tag-government-of-cape-verde","tag-investment-project","tag-license-revocation","tag-macau-legend-development","tag-ulisses-correia-e-silva"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Macau Legend Development Announces Its Intention to \u201cvigorously contest\u201d the Accusations of the Cape Verde Government - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Legend Development Announces Its Intention to \u201cvigorously contest\u201d the Accusations of the Cape Verde Government - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"The legal confrontation intensifies following a statement from Macau Legend Development (MLD) about its plans to &#8220;vigorously contest&#8221; the claims of the Cape Verde Government. The statement followed accusations from the Cape Verde Government, which asserts that Macau Legend Development failed to meet the set deadlines for the project, leading to the cancellation of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/\" \/>\n<meta property=\"og:site_name\" content=\"SBC EURASIA EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-29T11:09:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-29T11:09:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/11\/Macau-to-vigorously-contest-Cape-Verde-government-claims.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"464\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Khomeriki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Maria Khomeriki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/\"},\"author\":{\"name\":\"Maria Khomeriki\",\"@id\":\"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/f6f1bec1f527da78057fa0c8d3b56dd6\"},\"headline\":\"Macau Legend Development Announces Its Intention to \u201cvigorously contest\u201d the Accusations of the Cape Verde Government\",\"datePublished\":\"2024-11-29T11:09:34+00:00\",\"dateModified\":\"2024-11-29T11:09:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/\"},\"wordCount\":338,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/11\/Macau-to-vigorously-contest-Cape-Verde-government-claims.jpg\",\"keywords\":[\"Asset Control\",\"Council of Ministers\",\"Delayed Implementation\",\"Government of Cape Verde\",\"Investment Project\",\"license revocation\",\"Macau Legend Development\",\"Ulisses Correia e Silva\"],\"articleSection\":[\"Casino\",\"News\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/\",\"url\":\"https:\/\/sbceurasia.com\/en\/2024\/11\/29\/macau-legend-development-announces-its-intention-to-vigorously-contest-the-accusations-of-the-cape-verde-government\/\",\"name\":\"Macau Legend Development Announces Its Intention to \u201cvigorously contest\u201d the Accusations of the Cape Verde Government - 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