Dubai: Showing up on social media has its downsides too – Dubai developer Union Properties clearly has reason to feel concerned.

The management has issued a strong statement dismissing speculation that appeared on social media, stating that a local bank has attached the developer’s accounts. “We would like to clarify to shareholders that the company has taken all necessary measures towards the matter and currently, there is no attachment on the company’s accounts by the bank,” said UP in the disclosure.

“The lawsuit between the company and the bank is still under review by Dubai courts, and no final judgement has been issued.”