Abu Dhabi Court orders man to repay Dh370,000 in investment dispute

Dubai: The Abu Dhabi Court of Cassation has upheld an appellate ruling ordering a man to return Dh370,000 to another, along with Dh30,000 in damages, after a dispute over money transferred for investment purposes.

Court documents show the plaintiff had sued, seeking Dh780,000 plus interest and an additional Dh50,000 in compensation. The complainant said he transferred Dh370,000 to the defendant’s bank account and later handed him Dh410,000 in cash in front of witnesses. The defendant, he argued, had promised to return the funds but failed to do so.

The defendant countered that he had only received Dh370,000, which he used to buy stocks on the plaintiff’s behalf, claiming the money was lost in trading. He denied ever receiving the additional Dh410,000 in cash.

A lower court initially dismissed the case, but the plaintiff appealed. The appellate court overturned the decision, ordering the defendant to repay Dh370,000 plus Dh30,000 in damages and litigation costs. Both parties challenged the ruling before the Court of Cassation.

The plaintiff argued the appellate court erred by not awarding him the additional Dh410,000 he said was handed over in cash, and by refusing to hear witnesses. The high court dismissed his claim, noting that under Article 66 of the Evidence Law, obligations exceeding Dh50,000 cannot be proven by witness testimony alone. Since no documentary proof existed and the defendant denied receiving the money, the court found no legal basis for the claim.

The defendant also appealed, arguing that the appellate court had relied on bank transfers without establishing their purpose. The Court of Cassation rejected his appeal, ruling that the transfers, along with the defendant’s acknowledgement of receiving the funds and his commitment to repay them, were sufficient grounds to hold him liable.

The court dismissed both appeals, ordered each party to bear the costs of their challenge, and confiscated the deposits lodged in connection with the cassation proceedings.