My brother is the 100 percent owner of an LLC company. Due to financial troubles, several payments which had to be made by the company lapsed and as of now the company is in hundreds of thousands of dirhams in debt.
Currently in the Dubai courts system it shows that there are 3 cheque execution cases pending against him: 2 of them are originally against the company but I guess he was made party due to him being the owner and also the signatory of the cheques for the company. 1 of them is by a finance company for an outstanding loan he had taken for company purposes in his personal name.
A travel ban is already there in his name. He is currently in his home country.
My doubts are:
- He is the registered owner of a car which is on loan. In cheque execution cases against the company (in which he is also implicated), is it possible that the car in his personal name will be seized by the court for recovery of the execution amount?
- If yes, what is the usual procedure of the car seizure? Will it be towed from wherever it is parked at the moment?
- If not, is it recommended that he transfer the car to my name (as his brother)? Is it technically possible since cheque executions are going on against him? If it is realistically possible, will he or I get into legal trouble for trying to transfer the car?
- Will getting his power of attorney in my name be possible when he is in India? If the PoA is obtained, will I able to approach the bank in which the car is mortgaged to, for transferring the car to my name?
Kindly forgive for any mistakes. I’m seeking valuable advice from any individuals who have been through the same situation, or from any lawyers here who have experience in dealing with such cases.