DIFC 186/2021
(1) Lajvati (2) Laghuvi v (1) Lankesh (2) Larraj
This case involved a claim by purchasers under a share purchase agreement that there had been a breach of a warranty for there only to be one outstanding debt after a loan was made to the company after the acquisition date in the contract but before the actual completion. Also considered was interest on the amount claimed as leakage and a counter claim for legal fees and stress and trauma by the defendants.
Background
The First Claimant was Lajvati an individual residing in Dubai, UAE.
The Second Claimant was Laghuvi an individual residing in Ras Al Khaimah, UAE.
The First Defendant was Lankesh an individual residing in Dubai, UAE.
The Second Defendant was Larraj , an individual residing in Dubai, UAE.
The underlying dispute arose over the Claimants’ claim that the Defendants had allegedly breached the Share Purchase Agreement dated 6 July 2016, relating to the acquisition of the entire issued share capital of Latinu and the Amendment to the Share Purchase Agreement dated 6 September 2016.
The Defendants filed an Acknowledgment of Service setting out their intention to defend all of the Claim.