| Apex court orders developers to pay landowning company Dhs29 million ABU DHABI: The Federal Supreme Court upheld a ruling issued by a court obligating a property development company to pay Dhs29 million for unlawfully cancelling a property development contract. as though you have a completely The property owners went in appeal to the Court of Appeal against the ruling, which revoked the lower court's ruling and obligated the firm that voided the contract - the developers — to pay Dhs29 million to the home owning firm. as though you have a completely as if you have a totally The Court of First Instance after studying the auditor's report, ordered termination of the contract and obligated the property owners to repay Dhs1 million, return the cheques or amounts against cheques encashed along with Dhs90,000 as compensation for not complying with articles of the contract. as though you have a completely as if you have a completely Besides, the developers demanded that the land-owning party repay Dhs1 million paid as a down payment to it and return all cheques or amounts encashed thereof, side by side with a Dhs1 million compensation towards material and moral damages. as if you have a completely as if you have a totally The court had issued the verdict after it was verified that the house owning business had handed over the house to the developing institution inside of the period specified within the contract. Apex court orders developers to pay landowning company Dhs29 million |
Monday, 26 March 2012
Apex court orders developers to pay landowning company Dhs29 million
