A special judicial committee has been appointed to weigh in on potential legal disputes over the estate of Emirati billionaire Majid Al Futtaim, widely seen as a pillar of Dubai’s tourism and economic growth.
The committee was appointed by Dubai’s ruler amid reports of discord among Al Futtaim’s 10 heirs, the Financial Times newspaper first reported over the weekend.
“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 Associated Press on Monday.
“As we work through this transition, our businesses are continuing their operations as normal,” the company added.
Al Futtaim, who died in December, rose from working as a bank clerk to creating a $16bn business empire.
The Al Futtaim family’s business empire dates back to the 1930s, when Dubai remained a small pearling village …
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