High Court to rule in $2bn claim against Dubai Islamic Bank
Issue 1028
- 15 Dec 2016
| 4 minute read
Judgement is expected in early 2017 in a $2bn case brought in the UK’s High Court against Dubai Islamic Bank (DIB) by Plantation Holdings, a Dubai-based real estate company owned by British property developer Arthur Fitzwilliam. The hearings started in October and concluded in mid-December. If successful, the claim will embarrass DIB not just because of the heavy financial cost, but also because it would implicitly confirm damaging allegations that the bank used state power for business advantage.
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