DCC 274/2009
Background
Key Legal Questions in the Judgment
1. What are the bank credit operations?
2. Admissibility of the expert's report?
3. What are the rules for appointing an expert and to what extent is a court bound to the report?
4. What are the definitions of a Murabaha agreement?
Background Facts
The Plaintiff (a bank) filed a case before the court of first instance requesting the first, second and third Defendants jointly pay a sum of 2,697,404.52 AED for a documentary credits facilities granted by the bank to the first and second respondents. The guarantors of these facilities were the second and third defendants. The execution of provisional seizure was also requested. The court appointed an expert to review the matter. The expert submitted his report.
Proceedings: