Expats ‘not entirely to blame’ for UAE’s abandoned cars – Telegraph

Abandoned luxury cars left at airports across the United Arab Emirates may not entirely be the fault of expats escaping tough debt laws.

Recent reports have highlighted high-end sports cars gathering dust at Dubai and Abu Dhabi airports from panicked expats fleeing the country to avoid prison sentences for money owed.

Images of a limited edition Ferrari Enzo, worth more than £1 million, allegedly abandoned in Dubai by a British expat have been circulated widely. He was believed to have defaulted on a loan for the supercar and fled the city to escape possible imprisonment.

Under Sharia law which is observed across the Middle East, non-payment of debt is a criminal offence. As the UAE has no bankruptcy laws, there is no protection for those slipping into debt, even accidentally.

There have been cases of foreigners being prevented from leaving the emirates after being blacklisted for simply missing a credit card payment or bouncing a cheque.

But the spate of abandoned luxury cars – of which more than 3,000 were discovered last year – is not an exclusive tactic of expats on the run.

via Expats ‘not entirely to blame’ for UAE’s abandoned cars – Telegraph.

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Posted on September 16, 2012, in Article and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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