Wednesday 29 August 2012

Freed Briton fails to halt Dh57m Nakheel payout - The National

A British developer released from jail in Dubai last month after going on hunger strike made a surprise court appearance in the emirate yesterday in a bid to freeze a Dh57 million (US$15.5m) payout from Nakheel to another investor.

Safi Qurashi, 43, spent 30 months in prison after being found guilty of bouncing cheques. He was at the Dubai World Tribunal yesterday as the investor, Shokat Mohammed Dalal, won his case against Nakheel over a disputed deposit paid for three islands on The World, a Dubai World project developed by Nakheel.

In a highly unusual move, Afridi & Angell, acting for Mr Qurashi, requested the Tribunal freeze the money awarded to Mr Dalal because he and Mr Qurashi were involved in a separate civil dispute in the Dubai Courts.

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