Counterclaim against two companies owned by the same owner

I write to you from the UK.

There are two corporate companies owned by the same owner and operating in the same territory; one of them is a property company, the second is a financial services company.

The first one has defaulted on a transaction with me for £700,000. This amount has remained outstanding for the last 10 years and is a proven debt.

The second company is making a claim against me for £53,000 and starts bankruptcy action against me.

Does Sharia / Dubai law permit me to make a counterclaim against the second company because of the outstanding debt (£700,000) that the first one owes me?

The transactions between both were separate transactions. Does Sharia Law permit a “set-off"?

In law, set-off is a legal technique applied between persons with mutual rights and liabilities. It permits the rights to be used to discharge the liabilities where cross-claims exist between two parties.