Nissan Motor Co and its Middle Eastern Subsidiary Nissan Middle East found “Unrightfully Diverting Profits” for a decade from it’s JV Partner Al Dahana and loses in Court in a landmark lawsuit Amounting to approx. AED 1.2 Billion in favour of Al Dahana FZCO
Dubai: Nissan Motor Co. Ltd (Japan). and Nissan Middle East (Jabal Ali) has been charged to pay in excess of AED 1.2 billion to the Partner Al Dahana FZCO in a landmark ruling in the case filed by the latter. The Dubai Court of Urgent Matters has issued a precautionary attachment of Nissan Motor Co. Ltd. and Nissan Middle East’s assets and bank accounts in the UAE.
The case, first filed in 4th July, 2019, sought compensation for damages suffered due to breaches committed by Nissan, its subsidiary Nissan Middle East and two Directors appointed by Nissan. The Dubai Court of First Instance initially issued on 29th September 2021 its judgment ordering Nissan and its subsidiary to jointly pay Al Dahana an approx. amount of AED 1.2 billion, plus interest.
Following the review of presented evidence and as per provisions of the law, on 4th October, 2021, the Dubai Court of Urgent Matters issued a Precautionary Attachment order over the Goods, Movables, Trade Licenses, and Bank Accounts of the two companies Nissan Motor Co. (Japan) and Nissan Middle East (JAFZA) in the value owed by them (i.e AED 1,159,777,806.50 plus the legal interest until full payment).
Speaking about the landmark ruling, Mr. Nasser Watar – CEO for Al Dahana Group said, “Al Dahana is extremely reified with the Court’s verdict and would like to commend the integrity and fairness of the Dubai Courts for their impartial and just ruling. We feel our call for justice has been heard and believe this will pave the way to other regional companies who were cheated out of their rights to seek justice as well.”