Abu Dhabi :Bank Sues Borrower who Failed to Pay Loan Installments

The Abu Dhabi Commercial Court upheld the appeal of the Court of First Instance’s ruling obliging a borrower to pay an amount of 121,630 dirhams to his bank, from which he obtained a bank facility “personal loan” and arranged the amount and refrained from paying the due installments..

In the details, the plaintiff’s bank filed a lawsuit against one of its borrowers, the “defendant”, in which it requested a judgment obliging him to pay him an amount of 127,782 dirhams, and obliging him to pay legal interest at the rate of 12% from the due date until full payment, expenses and fees, and the provision includes expedited enforcement.

The Court of First Instance had ordered the borrower to pay the bank an amount of 121,630 dirhams, and oblige him to pay the late interest on the balance of the principal debt of 86,627 dirhams, at a rate of 3% annually from the date of the claim until full payment, provided that the principal does not exceed the principal of the debt, and oblige him to pay the expenses and attorney’s fees and reject other requests