Announcements & Disclosures

1. Obliging the defendants, from the first to the seventh jointly to pay an amount of AED 82,022,600 (equivalent to approximately KD 6.9 million) and legal interest at the rate of 5% from the claim date till full settlement, which represents the estimated budget for the repair cost of the subject buildings.
2. Obliging the defendants from the eighth to the eleventh jointly with the defendants from the first to the seventh to pay an amount of AED 23,200,000 (equivalent to approximately KD 1.9 million) and legal interest at the rate of 5% from the claim date till full settlement, which represents part of the main claim mentioned in the previous clause and includes the estimated budget for the repair cost of the subject buildings.
3. Reserving the right to request compensation after assessing the damages and losses
4. Obliging the defendants to pay the related fees, expenses, and attorney’s fees.

Subsequently, the subsidiary amended its requests in that lawsuit by claiming an additional AED 40,000,000 (equivalent to approximately KD 3.4 million) as punitive damages.

Al Sarh Contracting Company and others (defendants)

The court ruled in the presence of the defendants from the first to the fourth and from the eighth to the last, as well as for the remaining defendants as if they are present as follows:

First: The court ruled not to accept the inclusion of Amal Daniel, Patrick Daniel, and Melanie Daniel (heirs of the fifth defendant) as parties to the lawsuit, and ordered the plaintiff to bear the costs of their inclusion.

Second: The court accepted the inclusion of both “EForce Engineering Consultancy" and Salem Rashid Salem Al-Khidr Al-Shamsi in his capacity as the judicial liquidator of Al-Sarh Contracting LLC (the sixth defendant) as a matter of form.

Third: The court rejected the lawsuit against the defendants from the second to the fourth due to the lawsuit being filed by a party without proper standing.

Fourth: The court rejected the lawsuit against the first defendant due to the existence of an arbitration clause.

Fifth: The court ordered the included party, Salem Rashid Salem Al-Khidr Al-Shamsi, in his capacity as the judicial liquidator of Al-Sarh Contracting LLC (the sixth defendant), to pay the plaintiff the amount of 27,598,079 AED (Twenty seven million, five hundred ninety-eight thousand, seventy-nine Emirati Dirhams) equivalent to approximately 2.3 million Kuwaiti Dinars as compensation and punitive damages from the funds of the sixth defendant company, along with a legal interest of 5% annually from the date this ruling becomes final until full payment.

Sixth: The court rejected the lawsuit against the defendants from the seventh to the last.

Seventh: The court rejected the inclusion of "EForce Engineering Consultancy" and ordered the plaintiff to bear the costs of their inclusion.

Eighth: The court ordered Salem Rashid Salem Al-Khidr Al-Shamsi, in his capacity as the judicial liquidator of Al-Sarh Contracting LLC (the sixth defendant), to bear the costs of the lawsuit and to pay an amount of 1,000 Emirati Dirhams for legal fees from the funds of the sixth defendant company and rejected all other requests.