Onion has been selling at over Dh6 per kg in the local hypermarkets after India put restrictions on exports last year
uae4 hours ago
The DIFC Courts on Wednesday ordered a former deputy chief executive of GFH Capital to pay out $6 million in damages and other costs to his former employer on Wednesday, upholding the claim by investment banking arm of Bahrain's GFH Financial Group.
The Court of First Instance, dismissed the counter claim by defendant David Haig and granted GFH Capital's claim in full, in addition to legal costs and exchange rate fees as the monies to be paid are in different currencies.
"The court, bearing in mind the seriousness of the allegations made, is satisfied on the evidence that the defendant is a fraudster who caused to be paid into his own bank accounts and that of his close friend, monies belonging to the claimant in the sums of £2,039,793.70, Dh8,735,340 and US$50,000," the verdict by judge Sir Jeremy Cook said.
The court verdict is the latest in a long-running dispute in which Haig was convicted of embezzling millions of dollars from his former employer in 2015. The case centred on a claim by GFH Capital, which was seeking $5 million in damages plus legal and other costs, which it argued is owed after Haigh was convicted of breach of trust by Dubai Criminal Court in a separate case in 2015 and deported to the UK.
issacjohn@khaleejtimes.com
Onion has been selling at over Dh6 per kg in the local hypermarkets after India put restrictions on exports last year
uae4 hours ago
Determined to drive all the way to her birthplace of Lagos, her journey involved wild camping for almost 74 days, and a harrowing car crash
travel4 hours ago
Explorers have reported experiencing overflowing wadis across the country
uae4 hours ago
The pre-race favourite is bidding to become the first man to win the Giro d'Italia and Tour de France double since Marco Pantani in 1998
sports9 hours ago
Rublev had lost four consecutive matches before arriving in the Spanish capital but came from a set down to beat his Canadian opponent
tennis10 hours ago
He is best remembered for leading Argentina to the 1978 World Cup triumph
football10 hours ago
The UAE lost to Sri Lanka by 15 runs in the Global Qualifier semifinal
cricket11 hours ago
Narine's 81 off 39 balls guided Kolkata to 235-6 after they were invited to bat first in Lucknow's final home game
cricket11 hours ago