Car Parks Update - November 2019

There have been continuing activities related to the court actions in both the UK and UAE, with the final stages of the UAE being progressed through to conclusion.

In the UK, there were attempts again to retain control of the assets related to the ABC companies. Historically, this has been an aggressive fight and so the legal team were fully prepared and this resulted in the successful extension of the assets being held by the administrators to allow time for the UAE actions to conclude. The end target being that assets cannot be dissipated inappropriately.

In the UAE the reports were received from the Expert Witness and since then there have been two more court hearings. The expectation is that the case will conclude in the next one or two court hearings. The reason for so many court hearings is that the system in the UAE involves both sides raising challenges to each other through multiple small court hearings. The legal team are confident of a positive conclusion in the near future and that the court will uphold the preliminary verdict of the Office of Public Prosecutions.

Preparations are now well underway to structure how any receipts from the case can be processed correctly for the right beneficiaries.