DCC 68/2008

This case involved the amount due after a bank loan settlement had not been followed. A key issue was whether there was a requirement for the court also to consider an expert report produced for a criminal appeal.

Background

An Appellant obtained a bank loan from the Respondent bank of 250 000 AED and then reached a settlement on 10-6-2002 in respect of the payment of the rest  by monthly instalments of 3000 AED with a mortgage of their car and continued to pay until they were to find the debt had been inflated to 294,000 AED which prompted the Plaintiff to file the lawsuit and request an accounting expert to review the loan and the balance.

The bank also filed suit No. 481/2006, in full before the court itself, requesting  81,320,261 AED for non-payment in accordance with the settlement.

Proceedings

Court of first instance | Decision dated 25/04/2007

Based on the expert report, the court obliged the Appellant to pay the bank 66,27,307 AED and interest of 11.5% per annum from the date of filing the lawsuit in 4-7-2006 until payment but the interest could not exceed the remaining amount of the loan of 136,337 AED.