DCC 243/2003

This case involved a provisional seizure on guarantee letters issued by a bank. A key issue was who had the capacity to file a grievance on this request. The bank had not been the one to request the issue of the letters of guarantee.

Background Facts

The Respondent bank issued a request for a judge to impose a provisional seizure on letters of guarantee issued by the Bank because of debts of 82 / 3,854,877 AED. The Respondent explained that the Appellant had taken loans from them. The Appellant paid the bank a cheque for the amount claimed, but the bank refrained from paying this cheque. The Appellant was charged with a criminal action and after the case was referred to the competent court, the Public Prosecution informed the Bank by a letter dated 8 July 2002 that it had kept three letters of guarantee for the Appellant and granted the bank several days to sign the arrest. The Appellant filed a grievance No. 117 of 2002 in which they were acquitted of the charge.

Proceedings:

Court of first instance - Decision 19/11/2002