William Frain-Bell has had another success in the Dubai World Tribunal before Sir John Chadwick and Sir Anthony Evans.
The Claimant Mr Ahmed Al Muhairi is one of the most senior UAE Nationals in Dubai. He had been awarded an employee discount as an employee of Dubai World in respect of the purchase of two villa development plots situated on the eponymous Palm Jumeirah in Dubai. Following the collapse in the real estate market the Defendant Nakheel sought to annul the 15% purchase price discount and seek it’s repayment along with delay fees – in total an additional AED 3.1million.
The argument before the Tribunal related to whether the Claimant was in terms of the published criteria an employee of Dubai World and whether in any event the Defendant was legally entitled to change its mind after the discount had been awarded. Having heard evidence from both the Claimant and the COO of Nakheel the Tribunal found that Mr Butti was an employee of Dubai World and was therefore entitled to his employee discount and that no further sums were due and nor could the purchase be annulled.
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