Keystone Law acts in landmark decision in Dubai

Keystone barrister Rob Lawrie has acted as a senior member of the legal team, for a group of minority shareholders from Lebanese Canadian Bank (LCB), in a negligence and deceit claim against Deloitte and Touche Middle East

In a landmark decision, a Judge in the Dubai International Finance Centre Courts has ruled that the claim has a ‘real prospect of success’ and should proceed to trial.

This is the first claim of its kind to be considered by the DIFC Courts – targeting a leading brand in their audits of a client bank that was allegedly acting as the financial arm for drug traffickers and terrorist financiers. The decision is also significant because it extends the potential liability of DIFC regulated bodies to acts or omissions of foreign agents based in other jurisdictions.

The ruling follows a hearing which saw the claimants successfully oppose an application to strike out the Claim. The judgment is available here.

Share this article

Other Recent Articles