DCC 326/2003
Background
The Respondent company filed the action No 311/2001 against the Appellant demanding they pay 875,837 AED and 12% interest as of the maturity date on 05/01/2001 until payment.
The amount demanded was the value of the rest of gold which had been sold to them and they refused to pay back.
Proceedings:
Court of First Instance | Decision taken on 31/03/2002
On 31/03/2002, the court rejected the action.
Court of Appeal - Appeal No 478/2002 | Decision taken on 12/03/2003
The Plaintiff lodged the appeal No 478/2002 and after the court appointed an expert and he deposited his report, and it decided on 12/03/2003 to cancel the appealed judgment and give the Plaintiff their requests with an interest rate of 9% annually as of 21/04/2001.
Appeal in Cassation before the Dubai Court of Cassation