Developers of the Momi Bay resort project, Matapo Limited has been summoned to a meeting today where key stakeholders are expected to decide the future of the multimillion dollar project which has been on hold for the last 13 months.

Fijivillage News has received confirmation that Executives of the Fiji National Provident Fund and Unit Trust of Fiji are to discuss with Matapo Limited ways to settle their outstanding payments to various construction companies who worked on the project.

It has been confirmed that Matapo Limited, which was responsible for stage 1 of the Momi development was issued with a winding up notice after it allegedly failed to pay the construction companies, which has now led to the project standing idle for 13 months. However Matapo has challenged this and their case is currently before the court.

The Matapo Limited's office based in Nadi has been shut down and officials from the company could not be contacted. However the lawyers representing Matapo Limited say they will not comment on the matter at this stage.

Meanwhile, with millions of dollars at stake, it has been confirmed that two separate investigations are now underway to determine whether the proper due diligence was carried out before the green light was given to go ahead with the Momi Bay project.

One investigation is being carried out at the FNPF while the other is being done by the Capital Markets Development Authority on behalf of Unit Trust of Fiji.

So far an estimated $160 million has been spent on the project with no confirmation yet on when and if the project will be completed.