The Greater Civil Court revealed a new violation in the contracts of a well -known contracting company with the buyers of real estate units from it, when he paid and caused it in a lawsuit against the company that the contract with the buyer is an investment contract and not a sale, as the court pointed out that the company has a limited responsibility and it may not invest the money of others except with a license from the Central Bank Khaleeji and the company, after its failure to hand over for more than 3 years, and the court obliged it to return 75 thousand dinars for the price of the apartment and 5 thousand dinars in compensation for the last gain, and 3 thousand dinars in exchange for the legal fees. The delivery of the unit in 2022, but the defendant did not commit to what was stated in the sales contract, due to the presence of debts, reservations, mortgages and restrictions on the property, noting that the contract included a delay fine, and said that its agent incurred losses to him as a result of the last earning. Selling and obliging the defendant to the company, “the company and its owner”, to return the amount of 75 thousand dinars to the plaintiff – the value of the amounts paid – and to compel the defendant for the amount of 5001 dinars as a matter of temporary compensation, and to include them in exchange for law fees at 3025 dinars and expenses. The contracting company’s agent tried to pay that this is a contract of money investment, and not a sale contract, but the court indicated that the company has a limited responsibility and does not have an investment The money of others, and there is no license in the papers from the Central Bank of Bahrain that allows them to invest the money of others, and if this is a contract of investing money, this places them and its owner under violation of the provisions of the Central Bank of Bahrain’s law related to public order, especially since the violation of its provisions, some of which are legally criminal actions. The first must pay the plaintiff to 75,000 dinars, the amount of 5,000 dinars, financial compensation, the expenses of the lawsuit and the amount of 3025 dinars in exchange for the legal fees.
