Businessman sues bank, seeks Dhs60m in compensation - GulfToday

Businessman sues bank, seeks Dhs60m in compensation

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A UAE businessman has sued a local bank demanding Dhs60 million in compensation for financial loss and the psychological stress he has incurred due to bank's negligence.

According to the Emirati he issued a cheque of Dhs10 million for the payment of a plot of land but the bank failed to honour the cheque.

The bank allegedly claim the signature on the cheque does not match the one on the account in the bank's system.

The seller of the land filed a criminal case against the buyer for paying him with a dud cheque.

The case was dismissed by the court because investigations carried out revealed the signature on the cheque matched the one in the account.

The Abu Dhabi Civil Court of First Instance and the Appeal Court ordered the bank to pay the man Dhs500,000 for losses and damages.