Background

An Appellant bank filed the claim against the Respondents requesting for a judgment obliging them jointly to pay 2,478,694 AED and interest of 10.5% from the due date on 31-10-2001 until payment was complete and confirm the validity of a provisional seizure. On the basis that this was the value of the current account balance due to the second Respondent who was awarded banking facilities, and which was guaranteed by the remaining Respondents.

Proceedings

Court of first instance | Decision dated 10/06/2001

The Court ordered that the first and third respondents should be obliged to pay the Plaintiff the amount claimed and interest of 10.5% from the date of the claim on 25.2.2001 until the payment was complete and the validity of the provisional seizure No. 688 of 2001 and rejected all other requests.

Appeal at Sharjah Court of Appeal |Decision dated 15/03/2003

The court annulled the appealed judgment.

Appeal in Cassation before Dubai Court of Cassation