24 Oct 2025
NAORA GLOBAL DMCC PEMILIK DAN SEMUA PIHAK LAIN TERMASUK PINNACLES SHIPPING FZCO YANG MENDAKWA MEMPUNYAI KEPENTINGAN TERHADAP KAPAL ATAU VESEL MT TOP GRAND DARI PELABUHAN PANAMA
- Citation
- WA-27NCC-38-09/2024 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-27NCC-38-09/2024 (Mahkamah Tinggi)
On the balance of probabilities the court found Naora paid AED41,933,874.79 and Pinnacles paid AED39,500,000; Pinnacles’ additional claimed contributions were not proven and key documents relied on by Pinnacles were fabricated or unrelated. Although Naora contributed 51% of the purchase price, the parties’ agreement and conduct showed an intention for ownership on a 30:70 basis; accordingly Naora holds 30% beneficial interest and Pinnacles 70%, with Pinnacles liable to reimburse Naora AED17,101,113.70 (the 21% advance) with interest; Pinnacles’ counterclaim for wrongful arrest was dismissed;…