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Claim No. CFI 032/2014

THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS 

IN THE COURT OF FIRST INSTANCE 

IN THE MATTER OF THE REGULATORY LAW (NO. 1 OF 2004) 

IN THE MATTER OF THE DIFC INSOLVENCY LAW (NO. 3 OF 2009)

BETWEEN

THE DUBAI FINANCIAL SERVICES AUTHORITY

Claimant/ Petitioner

and

ES BANKERS (DUBAI) LIMITED

Defendant/ Respondent

 AMENDED ORDER OF JUSTICE SIR DAVID STEEL

FURTHER TO the Claimant’s Application Notice CFI-032-2014/2 filed on 7 December 2014

AND UPON reviewing the additional submissions filed by the Claimant on 22 December 2014

AND UPON reviewing the Order of Justice Sir David Steel dated 22 October 2014

AND HAVING reviewed the DIFC Insolvency Regulations of 2009 and the DIFC Insolvency Law (DIFC Law No. 3 of 2009)

AND FURTHER TO the additional submissions filed by the Claimant on 11 February 2015 in regards to expenses of the Joint Provisional Liquidation

AND UPON reviewing the Order of Justice Sir David Steel dated 19 February 2015

IT IS HEREBY ORDERED THAT:

1. The Joint Provisional Liquidators' remuneration for the period 29 September 2014 to 18 October 2014 shall be fixed by reference to the time properly given by the Joint Provisional Liquidators and their staff (at the standard hourly rates of Deloitte LLP, less 30%) in attending to matters arising out of the provisional liquidation of ES Bankers (Dubai) Limited, in the sum of US$ 600,485.

2. The Joint Provisional Liquidators' disbursements to be fixed by reference to the out of pocket expenses incurred during the Provisional Liquidation, in the sum of GBP 34,658;

3. The Court shall list a hearing on the first available date before Justice Sir David Steel to discuss the remuneration and disbursements of the Joint liquidators.

4. The costs of and occasioned by this application be costs in the liquidation.

5. Liberty to apply for directions including the giving of notice to creditors.

Issued by

Maha AlMehairi

Judicial Officer

Date of Issue:1 March 2015

At:  10am