Plea to cancel Dh34m stock deal rejected

DUBAI — The Dubai Court of Cassation has upheld the lower courts' verdict and dismissed a lawsuit filed by Abdullah Hasan Al Rustomani seeking termination of a Dh34 million stock deal involving First Gulf Bank shares, besides compensation of Dh9 million.

By Mohsen Rashid

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Published: Sun 13 Nov 2005, 10:11 AM

Last updated: Thu 2 Apr 2015, 8:36 PM

Rejecting the appeal, the court ordered Al Rustomani to bear the cost of the case, besides paying Dh1,000 to each of the four defendants including a stockbroker and owner of the stocks in question.

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