Receivership sought in ex-minister's case

The Dubai Appeals Court – Commercial, received on Wednesday a memorandum submitted by the complainant for imposition of receivership on the company, the subject of the dispute with the former minister KBF.

The court has also given the defence lawyer of KBF until September 1 to reply to the memorandum.

The Court of First Instance had rejected imposition of receivership request made by MFJ, the sister of the diseased Lebanese businessman.

MFJ filed an imposition of receivership case after the Cassation Court had issued its sentence in favour of the complainant MFJ as the foremer minister was found guilty by the Cassation Court and was sentenced to one year in jail – without execution.

In 1995, a Lebanese set up a group of companies worth millions of dirhams, and as the laws did not allow a 100 per cent ownership, he sought an Emirati's help to find the legal mode to fully own the companies, and this Emirati was the former minister.

In addition to the group of companies, the businessman also had a building worth about Dh100m.

As the businessman died in 2005, the former minister had claimed he was a genuine partner and shared their money.

Prosecution showed that KBF’s title in the licence was that of service agent against an annual pay of Dh300,000, which was later increased to Dh600,000 and he was never a partner.

MFJ had filed a case against the former minister as he claimed he was a genuine partner after the death of the businessman.

In February 2008, the First Instance Court had sentenced him to two years in jail, and on May 28, 2009, the Court of Appeals acquitted the former minister.

The Cassation Court sentenced him a suspended one year jail (one year jail without execution).

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