Tuesday 02, September 2014 by Robin Amlôt

Clifford Chance reviews DIFC Court ruling against Bank Sarasin

The DIFC Court of First Instance found Bank Sarasin & Co. Ltd, a Swiss incorporated bank with no registered presence in the Dubai International Finance Centre (DIFC), and its Dubai Financial Services Authority (DFSA) authorised DIFC subsidiary, Bank Sarasin-Alpen ME Limited (Sarasin-Alpen), in breach of the DIFC Regulatory Law with liability to pay compensation to the members of the Khorafi family who purchased $200 million of structured products, which were financed, in part, by loans from Bank Sarasin and from another bank.

Features & Analyses

SME Finance A sincere form of flattery?

  When Stevi Lowmass of The Camel Soap Factory discovered her product was being copied and sold, she took a number of steps to… read more