DIFC Courts

CFI 014/2010 Taaleem P.J.S.C. v (1) National Bonds Corporation P.J.S.C. (2) Deyaar Development P.J.S.C.

CFI 014/2010 Taaleem P.J.S.C. v (1) National Bonds Corporation P.J.S.C. (2) Deyaar Development P.J.S.C.

November 25, 2015

Claim No: CFI 014/2010

THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

 

IN THE COURT OF FIRST INSTANCE

BETWEEN

TAALEEM P.J.S.C.

                                                                              Claimant

and

(1) NATIONAL BONDS CORPORATION P.J.S.C.

First Defendant

(2) DEYAAR DEVELOPMENT P.J.S.C.

Second Defendant

  CONSENT ORDER

UPON the Second Defendant withdrawing Ground 1 of its appeal against the Order of Justice Sir David Steel dated 23 March 2015 (the “Order“)

IT IS HEREBY ORDERED BY CONSENT THAT:

  1. The Second Defendant’s appeal against paragraphs 1(a), 2 and 5 to 8 of the Order is dismissed.
  2. The Second Defendant’s appeal against paragraph 1(b) is dismissed, save to the extent that the Court of Appeal allows any appeal against the amount (if any) of the Murabaha profit charges which the Second Defendant was ordered to pay in paragraph 3(b) of the Order.
  3. The Second Defendant shall pay the Claimant’s costs of the Appeal, to be assessed if not agreed.

 

Issued by:

Natasha Bakirci

Assistant Registrar

Date of issue: 25 November 2015

At: 4pm