Q: A debenture that I had with a Family Office based in Dubai was not repaid to me on the due date. I am concerned that the Settlement Agreement has already been broken…A: If he violates the terms of the agreement, you may file a civil case in court against the person and get an order in your favor…

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The validity of a settlement agreement and recovering the outstanding money

Can you help, please? I live in the UK.

A £125k debenture that I had with a Family Office based in Dubai was not repaid to me on the due date of 31 July 2019.

After numerous broken promises to repay my capital, I eventually signed a Settlement Agreement providing repayment over 10 months commencing in January 2020.

The first payment was not made on the due date and the Family Office blamed the banking system. The payment eventually arrived today, some 10 days after the due date.

I am concerned that the Settlement Agreement has already been broken, and that I may experience problems with future payments.

I believe that as the Settlement Agreement has been broken, I may be able to recover the full outstanding amount of £120k.

Can you assist me, please?

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Maryam Ali Saleh Hayyaz

Maryam Hayyaz & Wejdan Bushahab Advocates

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12 Feb 2020, 18:30

Dear questioner,

We can help you to recover your outstanding amount at the earliest.

Kindly contact us via phone for a detailed discussion or write us an email for further assistance.

12 Feb 2020, 19:08

What other information do you require from me to enable you to decide how you might assist me and to determine a fee?

I tried to send an email but it was undeliverable because of 'spam/phishing' concerns?

13 Feb 2020, 06:27

We would need to review the settlement agreement and any other documents related to this case.

7 Mar 2020, 15:09

What costs and fees would I incur if I took out a civil court action to recover my investment?

Would a Court award me my full costs of taking out the action?

I would not want to spend money on a court action if I could not be certain that the other party could pay any award made, but I do not seem to be able to get financial information for the LLC anywhere.

Is there any way of finding out the financial position of LLC and their directors?

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Ashraf Konsowa

Ali Alshimmari Advocates & Legal Consultants

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12 Feb 2020, 19:20

Dear,

We can help you to recover the outstanding amount.

To assist you, kindly contact us via phone or email.

12 Feb 2020, 20:42

I would like to know if the terms of the settlement agreement have been broken and, if so, whether I can immediately take action to recover the outstanding amount as soon as a payment date is not met?

13 Feb 2020, 06:19

Kindly provide us with a copy of the settlement agreement to advise you.

7 Mar 2020, 15:09

What costs and fees would I incur if I took out a civil court action to recover my investment?

Would a Court award me my full costs of taking out the action?

Is there any way of finding out the financial position of LLC and their directors?

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Brett Michael Westernoff

Elnaggar & Partners

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13 Feb 2020, 08:08

Dear Sir/Madam,

We can assist you in recovering your outstanding GBP 120,000.

Can you please send me a copy of your Settlement Agreement to my email to review and discuss your options in detail.

7 Mar 2020, 09:33

What costs and fees would I incur if I took out a civil court action to recover my investment?

Would a Court award me my full costs of taking out the action?

Is there any way of finding out the financial position of LLC and their directors?

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Imran Khan

Bin Eid Advocates & Legal Consultants

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14 Feb 2020, 14:59

As you mentioned that you have signed an agreement for payment terms, if he violates the terms of the agreement, you may file a civil case in court against the person and get an order in your favour.

To file a civil case, you need to appoint a lawyer and pay the court fee (that you can get back and the court will ask the other person to pay).

This procedure may take time, therefore always better settle things amicably.

For further clarification, please feel free to contact us.

14 Feb 2020, 15:20

Thank you very much.

How much is it likely to cost to take out a civil case in court, and which court?

14 Feb 2020, 15:28

6% of the claimed amount is the court fee in Dubai Court.

Please call or Whatsapp us for further details!

2 Mar 2020, 18:16

The Family Office has another LLC. If the Court were to award order in my favour, could the assets of the other LLC be called upon to pay my debt?

2 Mar 2020, 19:03