DCC 274/2009/1

This case involved rights and duties under a murabaha agreement.

Background

The First Respondent - an Islamic bank filed suit No. 771 of 2007 against the two Appellants and the Second Respondent obliging them to jointly pay 52 / 2,697.404 AED and requesting the Court to confirm the provisional seizure No. 173/2007 because of credit facilities granted to the First Defendant from 1-11-2005 to 3- 10-2007, and guaranteed by the Second and Third Defendants.

Proceedings:

Court of first instance - Decision dated 8/1/2009

The Court of First Instance appointed an expert and after he filing his original and supplementary reports, the Court confirmed the provisional seizure No. 173/2007 and obliged the First, Second and Third Defendants to jointly pay the Plaintiff 52,697,404 AED. The First and Second Defendants appealed this judgment.

Appeal Court - Appeal No. 63/2009 - Decision dated 7/10/2009

The Appeal Court rejected the appeal and confirmed the appealed judgment. The Appellants appealed further.

Appeal before the Dubai Court of Cassation