Ex-MIFCO MD seeks USD 42,000 after being sacked without notice

Dr. Vitaliy Lyubimov, the former CEO and Managing Director of the Maldives Industrial Fisheries Company (MIFCO), who was dismissed less than three months after his appointment, has filed a case with the Employment Tribunal seeking USD 42,000 in compensation for his notice period, claiming he was terminated without notice.

Lyubimov, a Ukrainian national, was appointed as the CEO of MIFCO on December 9, 2024.

Privatization and Corporatization Board (PCB) announced his dismissal on March 3^rd, less than three months after his appointment.

Subsequently, Lyubimov filed a case against MIFCO with the Employment Tribunal, claiming he was terminated without notice.

Lyubimov, in his case, claimed he was dismissed without the three-month notice required under his employment agreement. As such, he is seeking three months of his salary amounting to USD 42,000 (MVR 649,211.33).

MIFCO has challenged whether the Employment Tribunal has the jurisdiction to review the case by questioning whether the Employment Act can be applied to Lyubimov’s post.

The state-fisheries company has requested to dismiss Lyubimov’s case.

However, Employment Tribunal accepted the case and has ordered MIFCO to respond in the case.

While MIFCO has long since been running at a loss, President Dr. Mohamed Muizzu earlier declared he go to the root of the corruption within the company and eliminate it, and had previously stated he appointed a foreign CEO towards this goal as well.

Soon after he assumed his new duties, the Lyubimov warned he will not tolerate political interference or attempts to influence MIFCO's management. He also vowed to publicly expose anyone who attempts to influence the company.

Notably, Noel Gregor Paterson-Jones, who was appointed as the CEO and Managing Director of the Development Bank of the Maldives (DBM), has also filed a case with the Employment Tribunal seeking his salary for a notice period.