Heirs of Canadian businessman sue bank

The Dubai Court of First Instance heard a civil lawsuit filed by the heirs of a deceased Canadian businessman against a local bank, accusing the bank of mismanaging the estate and withholding tens of millions of dirhams in violation of banking regulations and the orders of the Dubai Probate Court.

- Mohammed Yaseen, Staff Reporter

The heirs (the deceased's brother and two sisters) filed the case before the Dubai Commercial Court, alleging that the bank conducted unauthorised financial transactions in the deceased's accounts after his death in October 2020.

The heirs demanded the recovery of Dhs76.9 million, in addition to interest and compensation, asserting that they discovered significant violations in the bank's handling of their brother's accounts while initiating procedures to retrieve the estate assets.