Drake & Scull International, listed on the Dubai Financial Market, revealed today that it had won a final court ruling from the Dubai Court of Cassation, rejecting all appeals submitted against the appeal ruling issued in favor of the company in Case No. 2021/1985.
According to the company’s statement, the case relates to a commercial appeal against Khaldoun Rashid Al-Tabari, the former CEO of Drake & Scull, and Saleh Maradwej, where the ruling obligated them to jointly pay an amount of 151.98 thousand dirhams, compensation for the material and moral damages that the company suffered. The ruling also approved legal interest at a rate of 5% from the date of issuance of the ruling until full payment.
The company confirmed in the statement that this ruling has become final and cannot be appealed. It also began taking the necessary measures to collect the amount awarded, as it had previously seized assets belonging to the convicts.
She indicated that there were seizures issued by the Public Funds Prosecution in Abu Dhabi on assets and funds belonging to Khaldoun Rashid Al-Tabari.
In July 2024, Drake & Scull International announced the issuance of a judicial ruling by the Dubai Court of Appeal in its favor against Khaldoun Rashid Al-Tabari (former CEO of the company) and Saleh Maradwej.
The company said at the time in a statement that the ruling obligated both Khaldoun Rashid Al-Tabari and Saleh Muradwej to jointly pay an amount of 152 million dirhams in compensation for the material and moral damages it suffered and legal interest at the rate of 5% from the date the ruling became final until full payment.
Drake & Scull indicated that the ruling is subject to appeal by cassation and has begun taking enforcement measures.
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