Dubai, UAE

Can CEO be sued for unsettled bank loans of the company?

My associate was working as CEO (employee) in an entity in Sharjah. The owner has left the country with unsettled bank loans.

(1) Can the Bank put the CEO in jail charging him that he was operationally responsible for the bank borrowings?

(2) What defence my associate can get from the UAE Law?

Iqra Salim

Dr. Hassan Al Marzooqi Advocates & Legal Consultants

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10 Sep 2017, 11:32

Dear,

If your associate left the country without settlement of his loans and the installments are pending for more than 3-4months then definitely there are chances that the banks have filed criminal cases against him and he will be caught at the immigration. He needs to settle with the bank in order to enter safely inside the UAE.

Regards

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