October 20, 2022 COURT OF FIRST INSTANCE - JUDGMENT
Claim No: CFI 060/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
In the name of His Highness Sheikh Mohammad Bin Rashid Al Maktoum,
Ruler of Dubai
IN THE COURT OF FIRST INSTANCE
BETWEEN
(1) AL AHLI BANK OF KUWAIT K.S.C.P.
(2) MASHREQBANK PSC
(3) ARAB BANKING CORPORATION (B.S.C.)
(4) NATIONAL BANK OF OMAN (S.A.O.G.)
(5) STATE BANK OF INDIA
(6) REGERA S.À R.L.
Claimants
and
(1) EMIRATES HOSPITALS GROUP LLC
(2) KHALEEFA BUTTI OMAIR YOUSIF AHMED AL MUHAIRI
(3) H E SAEED MOHAMMED BUTTI MOHAMMED KHALFAN AL QEBAISI
(4) EMIRATES HEALTHCARE L.L.C.
(5) EMIRATES HOSPITAL L.L.C.
(6) EMIRATES SPECIALTY HOSPITAL FZ-LLC
(7) EMIRATES HOSPITALS & CLINICS L.L.C.
(8) EMIRATES HOSPITALS REHABILITATION AND HOMECARE SERVICES L.L.C.
(9) EXCEL HEALTHCARE L.L.C.
(10) EMIRATES PHARMACY L.L.C.
(11) COSMESURGE AND EMIRATES HOSPITAL PHARMACY L.L.C.
(12) VEINCURE CLINIC DMCC
(13) EMIRATES HOSPITAL DAY SURGERY & MEDICAL CENTRE L.L.C.
(14) EMIRATES HOSPITALS CLINICS BUSINESS BAY L.L.C.
(15) KLINIKA MAHARLIKA L.L.C.
(16) AL SABAH MEDICAL CENTRE LLC
(17) COSMOPOLITAN MEDICAL CENTRE L.L.C.
(18) EMIRATES STAR MEDICAL CENTRE L.L.C.
Defendants
and
(1) CREDIT SUISSE AG
(2) AHLI UNITED BANK B.S.C. (DIFC BRANCH)
(3) NATIONAL BANK OF OMAN (S.A.O.G.), DUBAI BRANCH
Additional Defendants to the Counterclaim of
the First and Fourth to Eighteenth Defendants
AMENDED JUDGMENT OF JUSTICE WAYNE MARTIN
Hearing : | 12 October 2022 |
---|---|
Counsel : | Christopher Harris KC instructed by Simon Roderick and Derek Bayley of Allen & Overy LLP for the Claimants No appearance for the Third Defendant |
Judgment : | 12 October 2022 |
UPON the Claimants’ Amended Claim Form and Particulars of Claim dated 22 September 2021 (the “Claim”)
AND UPON the Defence of the Third Defendant dated 21 December 2021
AND UPON the Claimants’ Reply to the Defence of the Third Defendant dated 24 February 2022
AND UPON reviewing the Claimants’ witness evidence being the First and Second Witness Statements of Yuliya Zyuzina dated 21 October 2020 and 10 August 2022 respectively, and the Fourth Witness Statement of Simon Roderick dated 30 September 2021
AND UPON reviewing the First and Second Witness Statements of the Third Defendant dated 28 September 2020 and 17 August 2021 respectively
AND UPON reviewing the First and Supplemental Expert Reports of Mr John Paul Osborn dated 7 September 2021 and 10 November 2021 respectively, served on behalf of the Third Defendant
AND UPON reviewing the Expert Report of Dr Kathryn Barr dated 22 December 2021 served on behalf of the Claimants
AND UPON hearing Counsel for the Claimant at a trial held on 12 October 2022 and there being no appearance for the Third Defendant
FOR REASONS TO BE PUBLISHED, IT IS HEREBY ORDERED THAT:
1. Judgment be entered against the Third Defendant in the sum of USD 348,751,608.59.
2. The Third Defendant shall pay the Claimants’ costs of the claim:
(a) through to immediate judgment entered 30 November 2021 jointly and severally with the other Defendants, fixed in the sum of USD 425,900; and
(b) from the entry of immediate judgment through to trial, fixed in the sum of USD 359,484.05.
3. The Third Defendant shall have liberty to apply by no later than 4pm on Thursday, 10 November 2022 for the costs ordered to be paid in paragraph 2 of this Order to be assessed by the Court rather than fixed.
4. The Defendant shall pay the Claimant post judgment interest at the rate of 9% per annum effective from the date of this Order until full payment of the sums set out at paragraph 1 and 2 of this Order.
Issued by:
Ayesha Bin Kalban
Acting Registrar
Date of Re-Issue: 20 October 2022
At: 10am