DCC 201/2007

The initial dispute involved amounts owed to partners in a company. Where one partner had sold their shares to his wife who had later sold her shares to the plaintiff. A key issue was the evidential power of a criminal judgment which was not final on the civil case.

Background

A Defendant was a limited liability company based in Dubai involved in trading equipment, measuring instruments, alarms, and precision electronic devices.

It had been formed between a guarantor who owned 51% of the capital of the company and the another partner who owned 49%. On 26-4-1999 the second party sold all their shares in the company to his wife and became a director of the company.

On 15 December 1999, the wife sold part of her shares to the Plaintiff and an annex to the Memorandum of Association was issued with 12% of the shares and 20% of the profits.