Latest news with #CourtOfCassation
Khaleej Times
3 days ago
- Business
- Khaleej Times
Dubai: Islamic banks, insurance firms can not claim delayed interest, court rules
A Dubai court has prohibited Islamic banks and Takaful insurance companies from claiming delayed interest, even if it is in the form of compensation, in cases where the debtor delays payment. This ruling, announced by the General Authority of the Dubai Court of Cassation in Appeal No. 595 of 2025 (Commercial), is based on the newly introduced Article 473 of the Federal Commercial Transactions Law, considering it a matter of public order. Dr Habib Al Mulla, founder of Habib Al Mulla & Partners, said this ruling differs from what was previously announced when the Federal Supreme Court in the 1990s deemed it permissible for them to claim legal interest as compensation for payment delays. Al Mulla said Federal Decree-Law No. (50) of 2022 regarding commercial transactions had prohibited Islamic financial institutions from borrowing or lending with interest or benefit in any form, or from imposing or collecting interest or benefit on any delayed debt, including delay interest, even if it is in the form of compensation. However, the text did not address legal interest, so the Court of Cassation, in its ruling, interpreted the text broadly and considered that interest, regardless of its nature, is prohibited, the renowned lawyer said on social media platform X. He added that this text regarding legal interest is 'open to interpretation in more than one way and depends on whether such interest is considered a form of compensation or falls under the category of prohibited usury (riba) under Sharia law.' Based on this, he elaborated, it is determined whether the interest referred to in the text is delay interest or a contractually stipulated penalty for late payment, which is considered a form of prohibited usury under Sharia, or whether the text also includes legal interest claimed in court, acknowledging the difference in concept and provisions between the two. 'The conclusion reached by the Federal Supreme Court in its famous aforementioned ruling, which considered legal interest a form of compensation, is more precise, especially since it places all litigants on an equal footing and serves as a deterrent to those who seek to procrastinate in fulfilling their obligations. We may see differing rulings from other courts in interpreting this text, which would necessitate referring the matter to the Authority for Unifying Principles,' he said. At the end of the second quarter of 2025, according to the Central Bank of the UAE, the number of licensed insurance companies in the UAE stood at 59, comprising 23 traditional national and 10 takaful national companies, and 25 branches of foreign insurance companies and one branch of a foreign reinsurance company operating in the UAE. The number of insurance-related professions increased to 504. There were 24 local and 38 foreign banks operating in the UAE at the end of last year.
Yahoo
15-07-2025
- Politics
- Yahoo
Brigitte Macron launches appeal against acquittal in gender rumours case
Brigitte Macron, the wife of the French president, has lodged an appeal with France's highest appeals court, the Court of Cassation, after the Paris court of appeal last Thursday acquitted two women who spread a rumour online alleging that she is a transgender woman, her lawyer told French news agency AFP. On Thursday, the Paris appeals court overturned earlier convictions against the two women for spreading false claims, which went viral online, that Brigitte Macron, 72, had been born a man. Macron filed a libel complaint against the two women after they posted a YouTube video in December 2021, alleging she had once been a man named Jean-Michel Trogneux – who is actually her brother. Macron's lawyer Jean Ennochi told French news agency AFP on Sunday that Trogneux too was filing an appeal. Disinformation targeting Brigitte Macron spreads beyond France Disinformation on Macron's gender has circulated on social media for years. Her 24-year age difference with President Emmanuel Macron has also attracted much comment. In the video at the centre of the libel complaint, defendant Amandine Roy, a self-proclaimed spiritual medium, interviewed Natacha Rey, a self-described independent journalist, for four hours on her YouTube channel. Rey spoke about the 'state-sponsored lie" and "scam" she claimed to have uncovered – that Jean-Michel Trogneux had changed gender to become Brigitte, and then married the future president. The claim went viral, including among conspiracy theorists in the United States. Read more on RFI EnglishRead also:France's Brigitte Macron to sue over claims she was born a man
Khaleej Times
11-07-2025
- Business
- Khaleej Times
UAE: Former employee who missed 13 years of annual leave awarded Dh59,000 compensation
The Court of Cassation in Abu Dhabi has ordered an employer to compensate a former employee for 13 years of unused annual leave. The case involved an employee who worked at the company from 2009 until his contract was terminated in June 2022. After leaving the organisation, the employee claimed he had never taken his entitled annual leave during his tenure and sought financial compensation. According to Habib Al Mulla and Partners, the employer failed to provide any documentation proving otherwise. As a result, the court awarded the employee Dh59,290 in compensation. Initially, in case number 2024/73, a lower court had ruled in favour of the employee but limited the compensation to a maximum of two years' worth of unused leave. However, the Court of Cassation overturned this decision and granted full compensation for the entire period. Dr Habib Al Mulla, founder of Habib Al Mulla and Partners, said in a statement on the social media platform X that this ruling sets a significant precedent in labour disputes related to unused leave in the UAE. He added that the ruling will have significant implications for employers concerning the management and recording of leave entitlements, the potential financial obligations arising from unpaid leave and practical steps for employers to review and update leave policies. The verdict was announced by the Cassation Court in December 2024. Navandeep Matta, Senior Associate at Kochhar & Co. Inc. Legal Consultants (Dubai Branch) described the decision as a landmark in UAE employment law. 'This ruling has sent shockwaves through the employment sector, as the court awarded compensation for 13 years of unused leave. It marks a turning point in how accrued leave is interpreted under UAE labour law,' he told Khaleej Times. Citing Article 29 of Federal Decree-Law No. 33 of 2021 and Cabinet Resolution No. 1 of 2022, Matta explained that employees are legally entitled to compensation for unused leave upon termination, including a limited portion of leave carried forward from previous years. 'In this case, the Court emphasised that it is the employer's legal responsibility to prove that the employee either took their leave or was compensated for it,' he added. 'The company's internal records showed only one vacation over a decade, with no evidence of payments in lieu of leave. Based on this, the court ruled in favour of the employee, using the final basic salary to calculate the owed compensation.' Matta further noted that the decision sends a strong message to employers about the importance of proper documentation. 'This judgment should serve as a wake-up call to HR departments and company leadership. Accurate leave tracking and timely settlement of entitlements are not just best practices — they are essential for compliance.' 'Ultimately, the judgment strikes a balance between legal entitlements and evidentiary fairness. Accrued rights cannot be ignored due to poor record-keeping. Employers must act proactively or risk being caught on the wrong side of the law,' he concluded.
Russia Today
16-06-2025
- Politics
- Russia Today
Sarkozy stripped of France's highest state award
Former French President Nicolas Sarkozy has been excluded from the prestigious National Order of the Legion of Honor, according to a state decree published on Sunday. The revocation follows a 2022 conviction for corruption and influence peddling. Established by Napoleon Bonaparte in 1802, the Legion of Honor (Légion d'honneur) is currently France's highest award. It is bestowed for exemplary civil or military service and is regarded as a mark of distinction and official recognition of exceptional merit. The rules of the Legion of Honor mandate the exclusion of any recipient sentenced to a term of imprisonment of one year or more. The exclusion stems from a conviction in what has become known as the 'wiretapping affair.' In 2021, Sarkozy, who led France from 2007 to 2012, was found guilty of attempting to bribe a judge in exchange for confidential information about a separate investigation related to his 2007 presidential campaign. In 2023, the former president was handed a three-year prison sentence, including two years suspended and the remaining one at home with electronic monitoring. In late 2024, the Court of Cassation, France's highest court, upheld the sentence that Sarkozy had sought to challenge. The revocation makes Sarkozy the second head of the French state to be stripped of the Legion of Honor; the first was the notorious Marshal Philippe Petain. The head of the Nazi puppet regime of Vichy France during World War II was convicted of high treason in 1945. The decision to strip Sarkozy of the award came despite the reported reluctance of current French President Emmanuel Macron, who said in April that he thought that the former head of state 'deserves respect.'
CTV News
15-06-2025
- Politics
- CTV News
French ex-president Sarkozy stripped of Legion of Honor medal over corruption scandal
PARIS — France's former president Nicolas Sarkozy has been stripped of his Legion of Honor medal after being convicted last year of corruption and influence peddling while he was the country's head of state, it was announced on Sunday. The decision was made via a decree released in the Journal Officiel that publishes the government's major legal information. It comes in line with the rules of the Legion of Honor. The conservative politician, who was president from 2007 to 2012, has been at the heart of a series of legal cases since leaving office. He was found guilty of corruption and influence peddling by both a Paris court in 2021 and an appeals court in 2023 for trying to bribe a magistrate in exchange for information about a legal case in which he was implicated. He was sentenced to wear an electronic monitoring bracelet for one year, a verdict upheld by France's highest court, the Court of Cassation, in December. Earlier this year, Sarkozy stood trial over allegations he received millions of dollars from Libya for his successful presidential campaign in 2007. He denies the claims. Prosecutors requested a seven-year prison sentence. The verdict is expected in September. Sarkozy becomes the second former head of state to be stripped of the Legion of Honor — France's highest distinction — after Nazi collaborator Philippe Petain, who was convicted in 1945 for treason and conspiring with the enemy for his actions as leader of Vichy France from 1940-1944. Hollywood producer Harvey Weinstein was stripped of his Legion of Honor award in the wake of widespread sexual misconduct allegations against him in 2017. Disgraced cyclist and former Tour de France star Lance Armstrong also had his French Legion of Honor award revoked. Sarkozy retired from public life in 2017 though still plays an influential role in French conservative politics. Sylvie Corbet, The Associated Press
