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Pay $6 million DIFC Court orders to Prior CEO at Dubai, UAE

The Court of First Instance in Dubai DIFC Court, Ignored the counter claim by defendant David Haig.

The DIFC Courts on Wednesday ordered a former deputy chief executive of GFH Capital to pay out $6 million in damages and other costs to his former employer, upholding the claim by investment banking arm of Bahrain’s GFH Financial Group.

The Court of First Instance, discounted the offset claim by defendant David Haig and awarded GFH Capital’s claim in full, along with legal expenses and exchange rate charges as the currencies to be paid will be at various currencies.

“The court, bearing in mind the seriousness of the allegations made, is satisfied on the evidence that the defendant is a fraudster who caused to be paid into his own bank accounts and that of his close friend, monies belonging to the claimant in the sums of £2,039,793.70, Dh8,735,340 and US$50,000,” the verdict by judge Sir Jeremy Cook said.

The court verdict is the latest in a long-running dispute in which Haig was convicted of embezzling millions of dollars from his former employer.

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