An Arab man in Dubai has been denied compensation of AED 48 million (approx. BD 4.9 million) after his ex-wife took control of his company.
According to court documents, the dispute dates back to 2011 when the man founded a medical imports firm. Due to legal regulations at the time, he registered the business under the name of a third party, who promised to grant him power of attorney and refrain from intervening in the management of the company.
The company operated normally for years until the man attempted to transfer the ownership into his own name. He then discovered that his power of attorney had been revoked by the third party without his knowledge or consent, and subsequently handed over to his ex-wife.
The man claimed this was part of a coordinated scheme to oust him from the business. He alleged that his ex-wife used her newly acquired powers to review the accounts, strip him of his privileges, and eventually sell the company, making a transfer of ownership back to him impossible.
However, following extensive deliberations, a Dubai court determined that the man lacked sufficient proof to justify the exorbitant compensation he was demanding. Furthermore, the court discovered that his ex-wife had personally covered several operational costs for the business, meaning he actually owed her AED 323,275 (approx. BD 33,200).
Consequently, the court dismissed the man's multi-million-dirham claim and ordered him to settle the outstanding balance with his ex-wife.
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