IMF chief said the region remains a bright spot despite numerous shocks over the past few years
a lawsuit demanding Al Nahda Service Establishment to pay Dh185,000, as the debt amount which it owes to the engineering establishment as the remaining charges for some engineering works executed by them in the headquarters of the services establishment and its two branches in Dubai and Sharjah.
At the Abu Dhabi Court of First Instance, the service establishment admitted its debt to the plaintiff, while assuring that it’s not capable of paying the debt in the meantime. The court decided to temporarily seize the assets of the service company in the British Bank and the Union National Bank until the completion of paying the debt. However, the defendant filed an appeal before the Court of Appeal, saying that the seizure violates Article 261/2 from the Civil Procedures Law, and for the lack of justification for the temporary seizure according to Article 252 of the same law, because the dues of the engineering establishment are subject to completion of the work executed in Al Nahda premises, which they say is not complete. The Court of Appeal annulled the appealed verdict and considered it void.
IMF chief said the region remains a bright spot despite numerous shocks over the past few years
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