Where two subsidiaries of Al Mazaya Holding Company in the Emirate of Dubai (the defendants in this case) previously filed a lawsuit against the plaintiffs in this lawsuit by claiming sums in exchange for developing real estate projects for them in the Emirate of Dubai, and they obtained a final judgment and settled against them for a total amount of 19,780,852 AED (the subject of the disclosure dated 10/19/ 2021, and its implementation is being completed, as a result of which the plaintiffs filed this lawsuit by claiming the following amounts against Al Mazaya Holding Company, the two subsidiaries and others, as follows:
1- Claiming that the defendants and those required to be included jointly, severally, and jointly be required to pay to the plaintiffs an amount of 261,026,454 AED with legal interest at the rate of 5% from the date of the judicial claim until full payment, with the inclusion of the judgment of expedited exhaustion free from the bail bond.
2- Claiming that the defendants and those required to be included jointly, severally, and jointly be required to pay to the plaintiffs an amount of 50,000,000 AED as compensation for lost profits.
3- Obligating the defendants and those required to be included with the fees, expenses, and attorney’s fees
|
Subject of the Lawsuit
|
Granada Holdings Limited and others (plaintiffs)against Al Mazaya Real Estate Development Company W.L.L., Al Mazaya Real Estate Company FZ W.L.L. (subsidiaries), Al Mazaya Holding Company K.S.C.P., and other liabilities (defendants)
|
Parties of the Lawsuit
|