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Rakeen wins another case against former chief

|By Arabian Post Staff| In another case involving Dr Khater Massad,  a former Georgian associate appointed by the former RAKIA chief has been ordered to pay compensation to Rakeen Uptown Development in respect of claims of breach of duties as director, embezzlement and fraud.

This is the first in a series of Georgian cases brought by RAK entities against Georgian aide Mikadze, Dr Massaad and their associates to reach judgment. A majority-owned subsidiary of Rakeen Development PJSC, Rakeen Construction, has brought a case against Dr Massaad comprising of similar claims against him. Dr Massaad and Mr Mikadze are also co-defendants in another similar civil case brought by Rakeen Construction.