DIFC 496/2023
Najee v Nash
Type
Case
Court
Dubai International Financial Centre - Small Claims Tribunal
Jurisdiction
Dubai International Financial Centre
Taxonomy
General Banking & Finance Law, Arbitration, Civil Courts, Jurisdiction & Choice of Law, Breach, Discharge & Rescission of Contract
Decision date
26 Dec 2023
Panel
SCT JUDGE MAITHA ALSHEHHI
Catchwords
Arbitration - Court - Jurisdiction - Savings Plan Policy - Void - Contract
The initial dispute involved a request to void a bank savings plan agreement. Issues included whether the DIFC Court had jurisdiction. A key point was a clause in the policy stating arbitration was to be the mechanism for dispute resolution.
Background
The Claimant was Najee an individual who purchased a policy (Super Secure Savings Plan) with BANK which was offered by Union Insurance (P.S.C).
The Defendant was Nash a company registered in Dubai, the UAE.
On 14 December 2023, the Claimant filed a claim with the DIFC Courts’ Small Claims Tribunal requesting that the Policy be rendered void and seeking a return of the amounts paid of AED 180,000.