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Jailed UK Expat Sues To Make Dubai Bank Drop $500M Claim

Law360, London (February 27, 2019, 6:27 PM GMT) -- A British businessman who has been jailed for nearly a decade by Dubai authorities for $430 million in allegedly unpaid debts tied to a purportedly fraudulent investment scheme has asked a London judge to force an Emirates lender to drop its latest collection efforts so that he might go free. 

Charles Ridley has asked the High Court to bar the Dubai Islamic Bank PJSC from demanding repayment of a $500 million loan, arguing that the lender's claims breach an agreement he signed in 2007 that aimed to restructure the debt, according to a particular of claims filed Feb. 19.

"The claimant...

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