GFH to pursue David Haigh's Dubai and London assets in damages enforcement - The National

GFH to pursue David Haigh's Dubai and London assets in damages enforcement - The National:

GFH, the Dubai-listed parent of investment banking company GFH Capital, will start enforcement proceedings in Dubai and London for an award of around $5.1 million (Dh18.73m) in damages it received in a judgment against its former employee David Haigh last week. DIFC Courts last Wednesday ruled that Haigh, a former deputy chief executive of GFH Capital who was convicted of breach of trust by Dubai Criminal Court in 2015, must pay damages to his former employer equivalent to the sum he was convicted of embezzling from the company. “GFH can start enforcement of this judgment on Haigh’s assets in Dubai and the UK,” GFH said in a statement to the Dubai Financial Market, where its shares are listed. “It is expected that the collection of these amounts will have impact on GFH’s financials for the year 2018/2019,” the company said yesterday without giving the details of the likely effect. Haigh’s assets were frozen under an earlier DIFC Courts order.