An ownership row over Tameer Holding Investment, a large property developer building towers in Dubai and Abu Dhabi, has erupted into the legal domain with at least four cases in the region’s courts.
The Dubai Civil Courts last week froze Dh4 billion (US$1.08bn) of assets controlled by Ahmad al Rajhi, the Tameer chairman, after a former business partner claimed he had not lived up to obligations to pay him for shares.
“We have submitted this order as a precautionary measure before we submit our case to the courts,” said Dr Habib al Mulla, the lawyer for the plaintiff Omar Hassan Ayesh.
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