Firm's right to dispose off land invalid, rules court

The Dubai Civil Court has revoked a company’s right to dispose of a plot of land of more than 33 million square feet area, which it had acquired as a gift in 2015, after a bank filed a lawsuit claiming that the right of disposal was invalid, based on the fact that the company that owned the land had declared bankruptcy and owed it more than Dhs97 million under final court rulings, and that the disposal of the land is fraud and a way to get rid of the company's assets in an attempt to evade its obligations.

- Mohammed Yaseen, Staff Reporter

According to the case file, the bank filed the lawsuit against two companies, the first being the owner of the land, which declared bankruptcy in 2024, and the second being the company that received the grant.

During the inventory of assets, the bankruptcy trustees found that the land had been transferred years ago to another company without any financial compensation.