Vancouver: After a 10-year dispute over finances, Ripudaman Singh Malik is finally repaying the B.C. government millions of dollars in loans that went to cover his legal bills during the Air India trial where he was acquitted of the murders of 331 people.
The payment of $6.3-million will come from proceeds of the sale of prime property in Vancouver’s trendy Yaletown district that closed Tuesday.
However, the payment will not end the matter.
The B.C. government had asked for an additional $1.6-million to cover punitive damages and their legal costs. The government has also indicated its intention to pursue a charge of civil fraud and conspiracy against Mr. Malik and his family members for trying to hide assets during their decade-long dispute.
Mr. Malik declined to comment Tuesday about his decision to repay the loan.
His lawyer, Bruce McLeod, said Mr. Malik initiated court action that led to the sale of the property, which enabled Mr. Malik to pay the outstanding debt in full.
“The province sought an immense amount of money, and it is only by the sale of this property that it has been possible to pay the amount the Attorney-General has been seeking,” Mr. McLeod said in an interview.
Rapidly escalating real-estate prices in Yaletown have made repayment of the loan much easier for Mr. Malik. The property, which was owned jointly by Mr. Malik and his wife, Raminder, was sold for $14.5-million. It was valued at $2.5-million in 2003 when the government agreed to provide the loan to pay Mr. Malik’s legal bills, according to media reports at that time.
28/02/12 Robert Matas/The Globe & Mail
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