I don't have a dog in this fight so surprising myself how passionate I feel about this topic. There are differing viewpoints, fair enough, but a final word If I may. The court process was the first that was taken through the DIFC. Because of the structure in which the investment was set up, I think it somewhat unfair to call those that trusted it either naive or greedy for a fast buck. Sure, they wanted to make money, who doesn't, but I'm sure many would have done a risk assessment based on the protected capital and legal protection that this investment offered over other more juicy offerings. 10 years ago, I too would have been ever so weary of trusting anything financial here but the DIFC was set up for that very reason, to provide a transparent and clear legal framework based on UK law for business and financial accountability. No doubt it was because of this, and this reason alone, that so many pilots chose to invest here rather than elsewhere.
This has been the first test case, and only so far, in which the full legal process was followed for an investment through the DIFC. It failed, despite assurances to the contrary that the system has successfully completed it's judicial obligation. This, perhaps more than the money itself, is one reason why the fight should go on.
So, I too will say it one last and final time. As many people as possible should be made aware of this petition to avoid others losing savings, regardless of whether they 'can afford to lose' that investment. Dubai PLC should not be offering something they can't deliver. When 89 of our colleagues got truly shafted, the fact that so few fellow pilots are willing to support them is disappointing. From a personal view, this case concerns me. It concerns me because as a property owner here in Dubai, the apathy shown towards this case could have massive connotations in later years. If the World press and public opinion will not highlight this unfairness, what's to stop arbitrary changes in expat freehold ownership rules being implemented at a later date? And not for the better.
Sometimes, it's the principle more than anything else that's worth the fight. It's so sad that so many can't see beyond their own circumstances and see what positive ramifications their support could have.
Harry