Victims of property magnate Abed Al Boom must submit any claims against him by December 31, a new official decree has declared.
Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, has issued a decree to create a new Special Judicial Committee to deal with the financial case.
In 2011, Al Boom was found guilty of breaching the trust of 3,706 investors and embezzling Dh960 million of their money, which the court found him to have spent on parties, boats and luxury cars. Only 1 per cent of the stolen money was recovered and seized by authorities.
He was sentenced to 923 years and nine months in prison - three months for each offence.
But his jail term was later suspended by the Court of Appeal after an order was issued to calculate his assets.
The new decree stated: "Creditors and investors that submit their claims and petitions to the Committee after 31st of December 2013 do not benefit from the settlement, without prejudice to their rights, and they may claim their monies from any further settlements."
A clause in Sheikh Mohammed's August 2009 decree specifies that no criminal or civil action could be taken against Mr Al Boom until all his assets were liquidated and his investors reimbursed.
Those who fail to submit their claims before the latest stated date will not be able to claim compensation, and they may file a criminal report with reference to the penal action.
Dubai Appeal Court and Chairman of the Judicial Committee, Judge Saeed Hilal Al Zabbi, said that the decree amendment authorised the committee to determine the debtor's international assets, run settlements and distribute the liquidised monies to the creditors and investors whose claims had been endorsed by the committee.
Judge Al Zabbi said defining December 31, 2013 as the last date to accept creditors and investors claims would enable the committee to adhere to the time limitation stated in the decree.
newsdesk@thenational.ae
'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
If you go
The Flights
Emirates and Etihad fly direct to Johannesburg from Dubai and Abu Dhabi respectively. Economy return tickets cost from Dh2,650, including taxes.
The trip
Worldwide Motorhoming Holidays (worldwidemotorhomingholidays.co.uk) operates fly-drive motorhome holidays in eight destinations, including South Africa. Its 14-day Kruger and the Battlefields itinerary starts from Dh17,500, including campgrounds, excursions, unit hire and flights. Bobo Campers has a range of RVs for hire, including the 4-berth Discoverer 4 from Dh600 per day.
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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Killing of Qassem Suleimani
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
UAE currency: the story behind the money in your pockets
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
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Match info
Karnataka Tuskers 110-3
J Charles 35, M Pretorius 1-19, Z Khan 0-16
Deccan Gladiators 111-5 in 8.3 overs
K Pollard 45*, S Zadran 2-18
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
The Cockroach
(Vintage)
Ian McEwan
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners