June 07, 2024 Arbitration - Orders
Claim No: ARB 010/2024
IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
NEVEN
Applicant/Claimant
and
NOLE
Respondent/Defendant
ORDER OF JUSTICE ANDREW MORAN
PENAL NOTICE
IF YOU FAIL TO COMPLY WITH YOUR UNDERTAKING RECORDED IN THE LAST RECITAL BELOW, YOU MAY BE HELD TO BE IN CONTEMPT OF COURT AND MAY BE REFERRED TO THE ATTORNEY GENERAL OF DUBAI, FINED OR HAVE YOUR ASSETS SEIZED.
IF YOU, ACTING BY OR THROUGH ANY INDIVIDUAL, FAIL TO COMPLY WITH YOUR UNDERTAKING RECORDED IN THE LAST RECITAL BELOW, SUCH INDIVIDUAL OR INDIVIDUALS, MAY BE HELD TO BE IN CONTEMPT OF COURT AND MAY BE REFERRED TO THE ATTORNEY GENERAL OF DUBAI, FINED OR HAVE THEIR ASSETS SEIZED.
ANY OTHER PERSON WHO KNOWS OF THIS ORDER AND DOES ANYTHING WHICH HELPS OR PERMITS THE RESPONDENT TO BREACH THE TERMS OF ITS UNDERTAKING RECORDED IN THE LAST RECITAL BELOW MAY ALSO BE HELD TO BE IN CONTEMPT OF COURT AND MAY BE REFERRED TO THE ATTORNEY GENERAL OF DUBAI, FINED OR HAVE THEIR ASSETS SEIZED.
UPON reviewing the Claim Form issued on 23 May 2024 in ARB-010-2024 seeking interim relief in the form of (i) an injunction, together with (ii) an order for the production of information and documents regarding certain corporate transactions relating to property or assets that may be the subject of an application for a freezing order (the “Arbitration Claims”)
AND UPON reading the evidence filed in support of the Arbitration Claims
AND UPON hearing Counsel for the Claimant and Counsel for the Defendant at a hearing on 5 June 2024
AND UPON the Court being satisfied that the Arbitration Claims in these proceedings raise confidential matters, including information relating to personal financial matters, and/or it is in the interests of justice for these proceedings to be heard in private
AND UPON the Defendant giving an undertaking to the Court that it will not declare, pay or distribute any dividends to its shareholders, or otherwise enter or give effect to any binding or non-binding commitment to do the same, shall not make any payment to them, whether by return of capital or otherwise, to like effect, and shall not cause any of its subsidiaries or any branch in any jurisdiction to do the same, until 31 December 2024, which undertaking the court has accepted in making this order
IT IS HEREBY ORDERED THAT:
1. These proceedings are being heard in private and the Court file will not be publicly accessible, and this Order and any other Orders made in these proceedings that are to be published on the DIFC Courts Registry’s website or anywhere else will be anonymised using “A v B” terminology rather than the parties’ names.
2. The Claimant’s Application for an order of injunction that the Defendant shall not until further Order of the Court, declare, pay or distribute any dividends to its shareholders, or otherwise enter or give effect to any binding or non-binding commitment to do the same, shall not make any payment to them, whether by return of capital or otherwise, to like effect, and shall not cause any of its subsidiaries or any branch in any jurisdiction to do the same, is refused.
3. The Claimant’s Application for an order that that the Defendant must produce the documents and/or classes of documents responsive to the requests, and provide the relevant information, set out in a Schedule, to members of a scheduled Confidentiality Club, is refused.
4. The Defendant shall, by its duly authorised representative, execute, sign and file at Court, its undertaking given to the Court as recited above, in identical documentary form, in confirmation of the fact of it being given with the Defendant’s authority.
5. Liability for the costs of this Application shall be determined by the Court after receiving the parties’ submissions in writing thereon, on a date to be agreed by the parties, or ordered by the Court in default of agreement.
6. Reasons for this Order shall follow.
Issued by:
Hayley Norton
Assistant Registrar
Date of issue: 7 June 2024
At: 6pm
