Al Ain Civil Court Orders Borrower to Settle Dh181,890 Outstanding Loan

The Al Ain Civil, Commercial and Administrative Cases Court has ordered a man to repay Dh181,890 to a bank after defaulting on a personal loan originally valued at Dh607,000.

According to case records, the borrower had been making repayments for a period before the outstanding amount remained unpaid. Despite repeated amicable attempts by the bank to recover the dues, he allegedly failed to clear the remaining balance.

The bank subsequently filed a lawsuit seeking Dh215,341, along with legal interest at 12 per cent from the date of filing until full settlement, in addition to fees and legal costs.

In its submission, the bank stated that the loan had been granted at the borrower’s request, but he did not adhere to the agreed repayment schedule, leaving part of the amount unpaid.

However, based on an expert report presented during proceedings, the court determined that the remaining principal stood at Dh181,890 and ordered the man to pay that amount.

On the issue of interest, the court ruled that the bank is entitled to 5.75 per cent annual interest from the date the case was filed until full payment is made, provided it does not exceed the principal amount.

For any enquiries or information, contact ask@tlr.ae or call us on +971 52 644 3004. Follow The Law Reporters on WhatsApp Channels.