DUBAI, United Arab Emirates (AP) — A special judicial committee has been appointed to weigh in on potential legal disputes over the estate of Emirati billionaire Majid Al Futtaim, seen by many as a key pillar of Dubai’s tourism and economic growth.
Al Futtaim, whose eponymous company operates more than two dozen malls across the region, rose from working as a bank clerk to creating a $16 billion dollar business empire. He died in December. The Financial Times first reported over the weekend that Dubai’s ruler had appointed the committee amid reports of discord among his 10 heirs.
“There is a Special Judicial Committee whose role is to adjudicate potential legal disputes related to Mr. Majid’s estate and inheritance issues, not to oversee the company or its business,” the company confirmed in a statement to the The Associated Press on Monday.
