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  • RSS Dubai United Arab Emirates Property Real Estate Debt Fraud Developer Investor Court News

    • Criminal Complaint filed against Al Fajer Properties Sheikh Maktoum
      Criminal Complaint filed in Germany against Sheikh Maktoum Hasher Maktoum Juma Al Maktoum CEO of Dubai Developer Al Fajer Properties The Dubai Sheikh who mislead and extort a German Couple  Germany – Dubai 2011 A German elderly couple , today 80 + 50 years old who have been Dubai Tourists since a decade, bought in 2005 an apartment at Nakheel´s Dubai Residen […]
    • UAE: Human Rights Blogger, Sorbonne Lecturer Charged With ‘Humiliating' Officials
      source Human Rights Watch www.hrw.org (Beirut) - The United Arab Emirates attorney general should immediately drop all charges against five pro-democracy activists to halt their trial, Human Rights Watch said today. The charges of "humiliating" top officials relate solely to the defendants' peaceful use of speech to criticize the UAE governmen […]
    • Nakheel Dubai Sunland Case
      June 5, 2011After 21 hearings, Chris O'Donnell, the Australian chief executive of Dubai's major developer, Nakheel, came to the defence of his former colleagues Matthew Joyce and Marcus Lee. Mr Joyce and Mr Lee are accused of profiting from the sale of land that had been earmarked for a colossal high-rise development, which was to include the futur […]
    • Dubai Nakheel CEO decided to leave the company
      Dubai June 7, 2011 Nakheel said on Wednesday that its CEO Chris O'Donnell had left the company "after completing his contract terms". O'Donnell, an Australian who joined the developer in 2006, said he had decided to leave Nakheel following five years spent with the company, the statement added. O'Donnell has overseen a traumatic time […]
    • Owner of Dubai Developer Damac Hussain Sajwani files case against Egypt corruption ruling
      Dubai property developer Damac said on Tuesday it had filed an international arbitration case against Egypt over a land dispute and the conviction of its chairman and owner, Hussain Sajwani.A Cairo court last week sentenced Sajwani in his absence to jail and ordered him to pay a $40.5 million fine in connection with his 2006 purchase of land at Egypt's […]
    • Dubai Palm Jumeriah - Investors plan to take legal action
      Investors in Dubai Palm Jumeirah’s Golden Mile complex will this week serve the developer behind the project with a legal ultimatum to hand over their units or issue them with a refund.Up to ten investors in the luxury complex plan to issue Souq Residences with legal notice in a bid to force a resolution to a dispute that has been ongoing for more than a yea […]
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Posts Tagged ‘Dubai Court’

Nakheel Ex CEO Chris O´Donnell wins at Dubai Court

Posted by 7starsdubai on February 9, 2012


Dubai Court Ruling

Nakheel former CEO Chris O’Donnell who left Nakheel last June after five years, has won a $3 million claim against the Dubai real estate developer for breach of contract, the Dubai World Tribunal ruled Thursday.

Chris O’Donnell was awarded $ 3 million in bonus compensation in the  judgement.

Judge Anthony Evans made the award at the Dubai World Tribunal held at the DIFC Courts.

Posted in Chris O Donnell CEO Nakheel Dubai, Dubai court, Dubai Justice, Dubai Legal, Nakheel | Tagged: , , , , | Comments Off on Nakheel Ex CEO Chris O´Donnell wins at Dubai Court

Dubai detained American Adam Foster claims torture

Posted by 7starsdubai on May 16, 2011


Adam Foster has been detained in Dubai since his arrest on February 26. He is charged with stealing police handcuffs

source CNN

Detained in Dubai for more than two months in the United Arab Emirates faces up to seven years in prison for stealing police handcuffs, an allegation he says he only confessed to after being tortured.

A judge in Dubai is expected to hand down a verdict next week against Adam Foster, 30, of Burdett, New York, whose case has become the focal point of a grassroots letter-writing campaign via Facebook that calls for his release.

“It’s hard to be hopeful at this point,” Foster told CNN by telephone Thursday from Dubai, where he has been detained since his February 26 arrest. “I don’t want to think I’m going to be getting out of here in a few days and then find I have to stay for seven years.”

The UAE has charged Foster with theft of government property, possession of police paraphernalia and theft at night. If found guilty, he faces up to seven years in prison.

The U.S. State Department confirmed that Foster was detained. American consular officers met him on February 28 before UAE authorities released him on bail March 1.

Foster said he found the handcuffs a day earlier on the ground at a mall parking lot, about a mile and half from the police station where he was questioned.

“I was thinking ‘souvenir,'” Foster said. “They were lying on the ground. So I picked them up.”

Foster, who was on his way home after a six-week stint as a contractor for Dubai Energy Water Authority, was arrested after authorities found the handcuffs in his luggage during a routine security screening at the Dubai airport.

He said he was pulled off the plane, questioned and taken to a police station, where he was interrogated twice by two officers.

It was during that second round of questioning, after hours of maintaining his innocence, he said he was beaten and forced to confess.

Officials in the UAE did not respond to a CNN request for comment.

continue reading CNN

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Posted in Adam Foster Dubai, Detained in Dubai, Human Rights Dubai | Tagged: , , , , , | Comments Off on Dubai detained American Adam Foster claims torture

Dubai Properties Chairman released from jail after repaying 130 Million

Posted by 7starsdubai on June 17, 2010


source The National
DUBAI , June 16. 2010// The former chairman of Dubai Properties, a unit of Dubai Holding, has been released from jail after repaying Dh130 million in state funds.

Hashim al Dabal was freed after eight months in custody, the Dubai Attorney General, Essam Issa al Humaidan, said yesterday. Mr al Dabal had been held since being taken in for questioning in October on suspicion of taking illegal profits from property transactions.

The funds have been deposited in the Public Prosecution’s treasury and will be returned to the Dubai Government, which owns Dubai Holding. “Mr al Dabal was granted his freedom after he repaid the amounts he acquired through abusing his position and power,” said Mr al Humaidan.

The former Dubai Holding board member was the second executive to be released under similar circumstances under an amnesty law issued last December.

Omar bin Sulaiman, the former governor of the Dubai International Financial Centre, was freed on May 20 after repaying Dh51.5m obtained during his tenure.

While free for now, Mr al Dabal could soon find himself behind bars again. He may face charges with regard to more than 15 separate investigations being conducted by the recently formed Monetary and Public Funds prosecution, which is headed by Ismail Ali Madani.

Posted in Detained in Dubai, Dubai Justice, Middle East, UAE | Tagged: , | Comments Off on Dubai Properties Chairman released from jail after repaying 130 Million

Dubai dream trip turned into a nightmare for Charlotte

Posted by 7starsdubai on May 10, 2010


source Mirror UK
Human Rights Dubai !

Staring down the police station stairs into the stinking hellhole below, Charlotte Adams retched. Just a few hours before, the young Briton had been enjoying a relaxing holiday in the sun-seekers’ resort of Dubai.

But her dream trip turned into a nightmare when Charlotte, 26, found herself flung into a filthy police cell – just for kissing a male friend on the cheek.

It was the start of six months of hell, in which she eventually begged to serve a 23-day prison sentence for “indecency” – alongside murderers and prostitutes – rather than remain in limbo in Dubai while trying to appeal.

On Friday Charlotte was tearfully reunited with her mum Lorraine, 48, after touching down at Heathrow airport.

A few hours later she was back home at Mersea Island, Essex, and hugging twin brother Chris and sister Emma, 20.

In her first interview since being released Charlotte told the Sunday Mirror: “I never, ever imagined, in a million years, something like this would happen – it just seems so unjust. It is so good to be back. I’ve thought of nothing else for the past few months. The hardest part was having my freedom taken away. I’ve been stuck in Dubai since November knowing that what I was guilty of was such a small, harmless gesture.”

Charlotte spent a hellish 23 days in a cell with eight other women – only let out to see sunlight for 20 minutes twice a week.

She had travelled out to Dubai to visit a group of British friends, after splitting from her boyfriend in London and quitting her job as an estate agent.

But a night out with pals at a burger bar sparked a police inquiry that pushed her to the brink.  continue reading

Posted in Dubai law, Tourism Dubai | Tagged: , , , , , | Comments Off on Dubai dream trip turned into a nightmare for Charlotte

Dubai Former Minister of State suspended sentence for fraud

Posted by 7starsdubai on April 13, 2010


original source The National

DUBAI // Khalifa Bakheet al Falasi, a former minister of state, has
received a suspended one-year prison sentence after being found guilty
of defrauding a Lebanese woman of her family’s Dubai-based business.

The
verdict of the Dubai Court of Cassation brought an end to a long case
that has twice been before the emirate’s highest appellate court.
continue reading

Posted in Dubai, Dubai law | Tagged: , | Comments Off on Dubai Former Minister of State suspended sentence for fraud

Investor wins lawsuit against ACI Real Estate Dubai – Development Niki Lauda Twin Tower

Posted by 7starsdubai on March 7, 2010


original source The National
A property investor has been awarded a refund by Dubai Courts for an office unit he bought in a project that is 20 months behind schedule.

The British businessman Ron Oakeley bought two offices in a building in Dubai’s Business Bay that was to be named after the former Formula One racing driver Niki Lauda. The proposed Niki Lauda Twin Towers building was part of a trio of projects launched by Alternative Capital Invest (ACI) Real Estate, a German developer, in late 2007 that were to be
named after famous sport stars. continue reading….

Posted in ACI Real Estate Dubai, Dubai court, Dubai Legal - Real Estate Lawsuits, Dubai Property dispute, Dubai Property Investors, Lawsuit Dubai, United Arab Emirates | Tagged: , , , | Comments Off on Investor wins lawsuit against ACI Real Estate Dubai – Development Niki Lauda Twin Tower

Damac Properties 140 Million Dollar suit under way at Dubai International Financial Centre Court

Posted by 7starsdubai on February 24, 2010


original source Emirates Business24-7

Lawyers representing a German investor, Dr Lothar Ludwig Hardt, said the developer allegedly used the money from other property projects to construct Park Towers, the only development that appears to be ongoing out of the five that Hardt had signed up in February 2007.

“These close links show the other four properties are connected to Park Towers… which should have been finished two years ago,” Ludmila Yamalova, legal consultant and partner at Al Sayyah Advocates and Legal Consultants, told Emirates Business. She said Hardt has invested $9.7 million on five properties which, in addition to Park Towers include the two cancelled projects – Lotus Residences and Wildflower; Ocean Heights, which was scheduled for completion eight months ago; and Water’s Edge, where construction hasn’t been started yet.

The German investor is thus demanding refund of $9.7m and is seeking damages and lost profits caused by the developers’ breach of contract and other violations of the UAE, Dubai and DIFC Courts. Yamalova estimates that damages, loss of profits plus all the legal fees could go up to $140m.

“As of today, defendants have not delivered any of the properties and have not complied with any of the contractual obligations to claimants,” a claim form seen by Emirates Business said.

Defendants have committed a series of violations of UAE, Dubai and DIFC Laws in connection with properties such as enticement and unfairness, illegal sale, failure to obtain necessary approvals, failure to commence construction timely, failure to timely register developer and obtain necessary license, mismanagement of escrow funds and violation of trust account regulations, unfair contracts of adhesion, fraud and deception… illegal competition, bribery, trickery, breach of trust, cheating in commercial transactions, money laundering and accomplice liability,” said the claim form.

…..continue reading

Posted in Damac Dubai, Dubai, Lawsuit Dubai, Lawyer Dubai, Ludmilla Yamalova | Tagged: , , , , | Comments Off on Damac Properties 140 Million Dollar suit under way at Dubai International Financial Centre Court

Dubai Fraud Trial – Lawyer asked the court to subpoena Hussein Sajwani, the owner of Damac Properties

Posted by 7starsdubai on December 18, 2009


originaL source The National
DUBAI // Defence lawyers in the Sama Dubai fraud trial tried to use the fallout from the recent restructuring of Dubai World to make their case to the Appeals Court yesterday that their client should not be tried as a public official.

AM, 42, an Emirati and former senior executive at Sama Dubai, was acquitted of charges of breach of duty in July.

Last month the public prosecution asked that he be retried, saying his acquittal came because he had been tried as a private employee.

The prosecutor, Abdel Rahman al Memari, told the court that since Sama Dubai was owned by Dubai Holdings – owned by Sheikh Mohammed bin Rashid, the Ruler of Dubai and Vice President of the UAE – AM should instead have been tried as a public official.

In that case, Mr al Memari said, AM would have been legally required to declare commissions he received, including five apartments valued at Dh2.7 million (US$735,000), and Dh200,000 in cash.

If accepted, that claim would have significant repercussions for a number of the fraud cases currently working their way through the Dubai courts, as many of the defendants could similarly be considered to be public officials.

However, in court, the defence pointed out that since Dubai World’s restructuring was announced last month, officials had stressed the arm’s-length relationship between the Government and some of the emirate’s biggest companies.

For the defence, Ali al Shamsi reminded the three Appeals Court judges of government statements saying it would not guarantee the debts of a conglomerate owned by Sheikh Mohammed.

“The recent press statements issued by government officials about the company owned by the Ruler of Dubai are a clear indication that these companies are not government-owned entities,” said Mr al Shamsi.

He referred to a television interview given by Abdel Rahman al Saleh, the director general of the Dubai Department of Finance, in which Mr al Saleh said: “Creditors need to take part of the responsibility for their decision to lend to the companies. They think Dubai World is part of the Government, which is not correct.”

Mr al Shamsi told the court that Dubai Holdings, like Dubai World, was not owned by the Dubai Government.

Its subsidiaries were registered as limited liability companies, he said, meaning that AM could not be charged as a public official.

Meanwhile, Saeed al Ghailani, who is representing a Syrian Damac property development manager, AH, 32, in the same trial, asked the court to subpoena Hussein Sajwani, the owner and chief executive of Damac Properties, to be cross-examined.

AH is accused of being complicit in the alleged bribes of the Sama Dubai employees as well as accepting Dh650,000.

Mr al Ghailani said his client acted according to the instructions of the owner of the company, Mr Sajwani.

The trial was adjourned until January.

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Nakheel and its parent will be a test case for Dubai

Posted by 7starsdubai on December 3, 2009


original source Business Standard

Dubai World’s guarantee to bondholders could prove worthless. The emirate’s holding company, which is seeking a six-month standstill from creditors, pledged to repay a $3.5 billion Islamic bond issued by its now troubled property subsidiary Nakheel. Yet with local creditors effectively calling the shots, foreign lenders might find enforcing that guarantee impossible.

Nakheel has asked for trading in all three of its listed Islamic bonds to be suspended. Only the first, which was issued in 2006 and is due to mature December 14, was guaranteed by parent Dubai World. The liability on the subsequent two bonds, which have a total face value of $1.7 billion and mature in 2010 and 2011, appears to be limited to Nakheel itself.

The Dubai property developer’s 2008 accounts show $41.5 billion of assets and $17.5 billion of liabilities — a net asset value of $24 billion. But real estate prices in the emirate have fallen around 50 per cent in 2009.

That means Nakheel, which funded some of the emirate’s most outlandish projects, could easily now have a negative equity value of $5.5 billion.

The equity value at parent Dubai World, which had liabilities of $59 billion at the end of 2008, is also likely to be negative. Its portfolio of 10 companies looks mostly troubled. However, Dubai World does hold 77 per cent of publicly-listed ports operator DP World. That was worth $5.1 billion on November 25, just before Dubai World announced its intention to restructure.

Nakheel’s foreign creditors shouldn’t get excited about their recovery prospects.

To get a lawsuit against Dubai World off the ground, 75 per cent of Nakheel’s bondholders have to agree. But the majority of creditors are local banks, which are likely to accede to any request to roll over Nakheel’s debt — even if the capital structure remains unsustainable, according to one ratings analyst. And even if local lenders joined in, Dubai’s law might not support a claim that forced the sale of the assets of government-related entities.

Lawyers agree the restructuring of Nakheel and its parent will be a test case. That makes Dubai World’s guarantee look less than solid.

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