UAE: Aging father takes back 7,400 trade shares from sons who refused to take care of him

UAE: Aging father takes back 7,400 trade shares from sons who refused to take care of him

Man said he had bought the stocks in his five childrens' names to gift to them 23 years ago

Published: Thu 27 Oct 2022, 7:23 AM Last updated: Thu 27 Oct 2022, 7:31 AM

An Abu Dhabi father has won a civil lawsuit against his five children in which he demanded that they return the 7,400 trade shares in a business that he bought and registered in their names 23 years ago.

The children had refused to take care of their aged father despite earning from the trade shares he gave them.

The Abu Dhabi Court of Appeal for Family and Civil Administrative Claims overturned an earlier ruling by a lower court that dismissed the father's case. Instead, the judge ruled that the father had the right to reclaim the trade shares he had gifted his sons and their mother.

The man had filed a lawsuit against his sons and their mother (his ex-wife), demanding that a document he signed giving his 7,400 trade shares in a business to his sons and their mother be nullified.

He also requested that the defendants be obliged to return the shares to him with their profits or cash value and to re-register them in his name. The father also