Drake & Scull Wins AED 152 Million Final Court Judgment

Drake & Scull International PJSC ("DSI") has achieved a significant legal victory as the Dubai Court of Cassation issued its final ruling in the Company's favor. The court dismissed all appeals against a prior appellate judgment, solidifying DSI's right to recover AED 151,979,857 in damages from its former CEO, Mr. Khaldoun Rashid Tabari, and Mr. Saleh Muradweij.

The judgment mandates both individuals to jointly and severally compensate the Company, including an annual interest of 5% calculated from the date the ruling becomes final until full payment is made.

DSI has taken swift action to enforce the judgment, initiating recovery procedures and securing attachments on the defendants’ assets. The Abu Dhabi Public Funds Prosecution has also implemented additional measures targeting the assets and funds of Mr. Khaldoun Rashid Tabari.

This landmark ruling represents a pivotal moment for DSI, reinforcing its commitment to safeguarding its interests and shareholders' value. With this legal matter resolved, the Company is poised to strengthen its operations, pursue new projects, and drive sustainable growth to enhance shareholder returns.