PRIVATE COMPANY “QUANTUM CAPITAL LTD” v MS. SANIYA GABDULLINA

Quantum Capital Limited brought a claim against Sanyia Gabdullina seeking recovery of USD 52,622 as alleged unjust enrichment arising from an erroneous securities transaction and also challenged her attempted termination of their asset management agreement. The AIFC Court found that the claimant failed to prove unjust enrichment, causation, or any loss suffered by it, and therefore dismissed the monetary claim. However, the Court declared that the defendant’s purported termination of the agreement on 30 January 2024 was ineffective because it did not comply with the contractual notice requirements, and ordered each party to bear its own costs. Download PDF