DIFC 158/2022
Latuf v Lufiti
This case involved a separation and release agreement - where shares, an interest in properties and misrepresentation of the value of fixtures and fittings were claimed. Clarification was also sought on the financial status of the defendant as a liquidator had been appointed and issued a net realisable statement. Security for costs so proceedings could be initiated in the Court of First Instance was also requested/ A key point was the amount claimed went beyond the jurisdictional remit of the small claims tribunal.
Background
The dispute arose over the Separation and Release Agreement dated 13 November 2018 signed by the Claimant and the Defendant.
The Claimant, submitted that the value of his claims against the Defendant was Undelivered Restricted Shares (USD 612,000); Economic Interest in Unit 001 and 002 of Tower (AED 856,345.72) and Material and Direct misrepresentation by the Defendant of the value of fixture and fittings (USD 340,656).