Arab News, Saturday, Oct 16, 2021 | Rabi Al-Awwal 10, 1443
Dubai Court tells Nissan to pay $354m to Al Dahana over agreement breach
Emirates:
Nissan Motor Co. Ltd. and
Nissan Middle East have been told to pay in excess of 1.3 billion dirhams ($354
million) including interest, to Al Dahana FZCO, in the case filed by the latter
back in 2019, Al Dahana said in a statement.
The case sought compensation for damages suffered
due to breach of contract allegedly committed by Japanese automaker Nissan, its
subsidiary Nissan Middle East and two appointed directors, following the arrest
of former Nissan Chairman Carlos Ghosn in Tokyo.
The Dubai court issued a precautionary attachment
order over goods and moveables, bank accounts and balances of the two companies,
according to the statement.
Al Dahana was founded in 2008 to help promote
sales of Nissan vehicles in the Gulf region, and is jointly owned by Saudi
Arabian billionaire Khaled Juffali and Nasser Watar, a Lebanese businessman,
Bloomberg reported.
Japanese automaker Nissan told Bloomberg the
partnership ended in 2019 after it fully complied with its contractual
obligations, and that legal proceedings are ongoing in the emirate.