Nissan and its middle eastern subsidiary found diverting profits from its partner for a decade
The case, first filed in 4th July, 2019, sought compensation for damages suffered due to breach of contract committed by Nissan, its subsidiary Nissan Middle East and two appointed Directors. The Dubai Court of First Instance initially issued its judgement ordering Nissan to jointly pay Al Dahana over AED 1.3 billion, inclusive of interest, on 29th September, 2021.
Following the review of presented evidence and provisions of the law, on 4th October, 2021, the Dubai Court of Urgent Matters issued a precautionary attachment order over goods and moveables, bank accounts and balances of the two companies and valued the debt owed by them to be approx AED 1.3 Billion including interest.
Speaking about the landmark ruling Nasser Watar CEO for Al Dahana Group said, "Al Dahana is extremely happy with the court's verdict and would like to thank Dubai Courts for their impartial and just ruling. We feel heard, and believe this will pave the way for other regional companies to seek justice as well." ■