DCC 242/2007

This case involved the procedure and limits around a provisional seizure.

Background

An Appellant company filed a petition No. 76/2007 before the Magistrate of summary justice at the Dubai Court of First Instance to issue an order to impose a provisional seizure of the funds of the Respondent, movable and immovable wherever they may be, to guarantee its estimated right to 45 / 27.190998, AED especially 6,700,000 AED which was in the hands of a particular party.

The confiscator explained that he and the person over which the confiscation was required were partners in a company. On 25-3-2007, they signed an agreement under which the first bought shares of the second of 49% for 25 million dirhams based on the financial situation that the director of the company on which the confiscation was required showed. This agreement included the holding of 6,700,000 AED under the hands of the office (for law and its legal partners) where only 4,700,000 AED was paid the persons on which the confiscation was required after 50 days of signing the agreement and the remainder after 60 days of the same date.