Nakheel loses case against ex-CEO

Dubai: Nakheel has been told it must pay ex-CEO Chris O'Donnell $3.25 million in unpaid bonuses and leave in a judgment by the Dubai World Tribunal (DWT).

The court ruled in favour of the former Nakheel chief yesterday, telling the developer that it must pay two bonuses worth $1.5 million a piece and almost Dh850,000 in leave. O'Donnell claimed airline tickets for his family, but the court agreed that Nakheel should pay Dh67,000 only for his flight tickets.

Speaking following the judgment, O'Donnell said he was disappointed that the dispute had to go to court.

"I am naturally disappointed that, despite my best efforts at compromise the matter was not able to be resolved amicably without the need to take costly legal proceedings that vented Nakheel's internal business in a public forum," he said.

Nakheel's lawyers, which had argued that DWT did not have jurisdiction to try the case, said in a statement that the company was ‘disappointed' with the decision.