Executive Summary
- The Commercial Bank of Dubai PSC and related claimants seek to recover debts exceeding AED 382 million from the Al Sari family and associated companies.
- The Al Sari Defendants allegedly employed fraudulent schemes involving sham tenancy agreements and fabricated debt documents ("Globe Documents") to shield London properties ("Bridge Properties") from enforcement.
- The UAE Sharjah Court initially dismissed Globe’s claim based on these documents as fabricated, but Globe succeeded on appeal, resulting in a judgment for AED 582 million plus interest.
- The English High Court found the Globe Documents to be shams, backdated, and created to harm the claimants, and ruled the Sharjah appeal judgment was obtained by fraud and should not be enforced.
- Defendants largely failed to engage or attend trial; some were imprisoned for contempt of court for non-compliance with asset disclosure orders.
Sanctions Highlights
- — No sanctions implications identified in the case text.
Emerging Risks
- Use of complex corporate structures across UAE, BVI, and Cayman Islands to obscure asset ownership and frustrate debt recovery.
- Fabrication of legal documents and sham agreements to manipulate cross-jurisdictional enforcement.
- Risk of fraudulent judgments in foreign courts being used to shield assets.
- Non-cooperation and contempt by defendants increase enforcement challenges.
Geopolitical Impact
- Case highlights legal friction between UAE and UK jurisdictions regarding recognition and enforcement of judgments.
- UAE Sharjah Court’s initial dismissal contrasts with later appeal judgments, underscoring divergent judicial outcomes within UAE.
- The involvement of UAE-based companies and nationals (Al Sari family) and UK property assets illustrates the transnational nature of Gulf-UK commercial disputes.
- Potential reputational risks for UAE’s judicial processes amid allegations of fraud and sham documentation.
Economic Intelligence
- The dispute involves significant sums: over AED 382 million owed to the Bank, and a contested AED 582 million judgment in UAE courts.
- The Al Sari Group’s diversified business interests (oil, real estate, manufacturing, retail, insurance, hospitality) indicate broad economic footprint.
- London real estate market implicated as a key asset class targeted for debt recovery.
- Use of offshore entities (BVI, Cayman) complicates asset tracing and enforcement.
Strategic Recommendations
- Prioritize forensic document analysis and cross-jurisdictional cooperation to challenge fraudulent foreign judgments.
- Leverage UK court’s findings to resist enforcement of UAE judgments obtained by fraud.
- Monitor Al Sari Group’s corporate restructuring and asset transfers to pre-empt further concealment.
- Engage with UAE legal authorities to clarify procedural safeguards against fraudulent claims.
- Consider enhanced due diligence on UAE-related counterparties in financial and real estate sectors.
- Prepare for protracted litigation and enforcement efforts given defendants’ non-cooperation and contempt findings.
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**Source Notes:**
Case Title: *Commercial Bank of Dubai PSC & Ors v Al Sari & Ors [2025] EWHC 1810 (Comm)*
Link: https://empyreanprotocol.com/litigation/view/www.bailii.org/ew/cases/EWHC/Comm/2025/1810.html