Wednesday 25 March 2015

DIFC Courts expected to unfreeze assets of Dubai businessman following Djibouti dispute | The National

DIFC Courts expected to unfreeze assets of Dubai businessman following Djibouti dispute | The National:



"The London High Court has lifted a worldwide freezing order on the assets of the Dubai-based businessman Abdourahman Boreh, paving the way for his Dubai holdings to be formally unfrozen within weeks.



It is the latest development in a series of bitter disputes between the government of Djibouti and Mr Boreh, formerly chairman of the East African state’s port and free zone authority.



Justice Flaux said that he had been “materially misled” when granting the worldwide freezing order against Mr Boreh, the former head of Djibouti’s port and free zone authority in September 2013, and that the freeze should be lifted immediately."



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