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Dubai Labour Court has found in favour of Shuaa Capital in an AED22 million ($6 million) unpaid labour dues case filed by a former executive.
The Dubai-listed entity, which has undergone debt restructuring over the past year, said the court had issued a judgement in its favour in reference to the case, which was filed in August.
“The company values the trust and support of its shareholders and reaffirms its commitment to assessing all available legal options to safeguard its rights and those of its shareholders,” a disclosure said.
While the former executive was not named by Shuaa, it is understood to be former largest individual shareholder, CEO, MD and board member Jassim AlSeddiqi, who Zawya reported was not absolved of liability for the financial year 2023 by shareholders.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
