ADCC 221/2024
This case involved a bank's seizure and auction of mortgaged property. Issues included notice that the bank should give before auctioning the property and the approach that should be taken to lease to buy,
Background
Some Appellants filed case number 1458/2023 against the Respondent bank, requesting that the court order the bank to pay them 100,000 AED which was the amount paid in excess in the loan account, and to appoint a banking accounting expert to investigate the case and prove the debt in light of the results of the expert reports, and to cancel the seizure order on the mortgaged property and consider it as if it did not exist due to the failure to meet the conditions for its issue, and to nullify the notice sent by the mortgagee to the mortgagor on the notification of the occurrence of the breach and the order to pay, due to non-compliance with the formal and procedural conditions stipulated in the Real Estate Development Law Abu Dhabi Law No. 3/2015 and its executive regulations.