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24 February 2024

Al Sanea lawyer doubts Mashreq documents

By Mohammed Elsidafy

The defence lawyer of Saudi Arabian businessman Maan Al Sanea yesterday doubted the authenticity of a copy of original documents presented by Mashreq bank to the Dubai Commercial Court in a case of payment default on a loan.

Salah Al Baloushi, representing Al Sanea, asked for the original contract signed between the bank and his client to be produced in court. The court adjourned the case until March 18 to give time to the bank to produce the original contract document.

The case was filed by Mashreq bank against Al Sanea and Saad Trading, Contracting and Financial Services Company on June 24 last year, two weeks after the date of maturity of a loan taken earlier by Al Sanea through his company. The first hearing was on August 31 last year.

In its case, the bank has asked for Dh542 million as legal charges and an interest rate of nine per cent to be charged on the loan amount starting from the date of maturity in June 10 until the date of payment.

The bank also called for provisional seizure of the properties of Al Sanea and his company in the UAE.

Mashreq has also filed a case against Ahmad Hamad Al Gosaibi and Brothers at the Dubai Commercial Court asking for a sum of Dh1,457,164,000.

The court adjourned this case to March 15.


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