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  • Dubai Court tells Nissan to pay $354m to Al Dahana over agreement breach

Dubai Court tells Nissan to pay $354m to Al Dahana over agreement breach

Al Dahana was founded by associates of former Nissan Chairman Carlos Ghosn in 2018. (Getty Images)
Al Dahana was founded by associates of former Nissan Chairman Carlos Ghosn in 2018. (Getty Images)
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16 Oct 2021 02:10:33 GMT9
16 Oct 2021 02:10:33 GMT9
  • The case was brought by Al Dahana against Nissan and Nissan Middle East in 2019 for alleged breach of contract

Arab News

RIYADH: Nissan Motor Co. Ltd. and Nissan Middle East have been told to pay in excess of 1.3 billion dirhams ($354 million) including interest, to Al Dahana FZCO, in the case filed by the latter back in 2019, Al Dahana said in a statement.

The case sought compensation for damages suffered due to breach of contract allegedly committed by Japanese automaker Nissan, its subsidiary Nissan Middle East and two appointed directors, following the arrest of former Nissan Chairman Carlos Ghosn in Tokyo.

The Dubai court issued a precautionary attachment order over goods and moveables, bank accounts and balances of the two companies, according to the statement.

Al Dahana was founded in 2008 to help promote sales of Nissan vehicles in the Gulf region, and is jointly owned by Saudi Arabian billionaire Khaled Juffali and Nasser Watar, a Lebanese businessman, Bloomberg reported.

Japanese automaker Nissan told Bloomberg the partnership ended in 2019 after it fully complied with its contractual obligations, and that legal proceedings are ongoing in the emirate.

 
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