The former chief executive officer of Dubai-listed Drake & Scull International has refuted claims that he owes the contractor any money.
Bloomberg had reported earlier this week that Khaldoun Al Tabari and his daughter owed up to $272.3m (AED1bn) to the company.
In a media statement, Al Tabari said: “I categorically deny that any claims have been made against me. No such claims have been made, nor am I aware of the nature of any alleged 'violations'.”
Al Tabari said he and his daughter “acted at all times in accordance with all legal, regulatory and governance obligations, and in the interests of the company, its employees and its shareholders”.
“Any attempt to discredit or defame us will be taken seriously and is likely to have legal consequence,” he continued.
Al Tabari also denied that claims were made against him, and said he was “given no opportunity to respond to the supposed internal investigation by DSI”.
The former CEO stepped down from his role at Drake & Scull in October 2016. His statement added that all of the contracting firm's financial dealings are audited and approved by its board.
“In this context, it comes as a surprise that such baseless allegations are raised now, nearly two years after I have stepped down from my position,” he added.