uae-difc-cases
FIRST ABU DHABI BANK v LARMAG HOLDING [2019] DIFC CA 010 — Jurisdictional reach over licensed financial institutions (23 March 2020)
The litigation arose from a claim by Larmag Holding B.V. (the Respondent) concerning the alleged fraudulent transfer of bonds. Larmag contended that it was induced by fraud, purportedly committed by a Mr. Aljabri and an entity known as Elite Holding Group, to sell certain Reditum SA Bonds.
