August 23, 2021 court of first instance - Orders
Claim No. CFI 004/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
AEGIS RESOURCES DMCC
Claimant
and
UNION BANK OF INDIA (DIFC BRANCH)
Defendant
ORDERS OF JUSTICE ROGER GILES
UPON the Judgment of Justice Roger Giles issued on 11 July 2021
AND UPON reviewing the draft orders provided by the parties
AND UPON noting the Claimant’s offer to settle pursuant to Part 32 of the DIFC Court Rules (“RDC”) dated 29 November 2020
IT IS HEREBY:
1. Declared that the Claimant is not required to repay the Defendant the sum of USD1,062,856.69 being the outstanding balance on the sums totalling USD 1,067,500 paid out of the Claimant’s TR account (the “Sums”).
2. Declared that the Defendant is not entitled to any interest arising from or otherwise payable in respect of the Sums.
3. Ordered that the Defendant pay the Claimant USD 101,060.82 within 14 days of the date of this order, being damages of USD 84,580.52 and interest on the damages calculated to the date of Judgment of USD 16,480.30.
4. Ordered that the Defendant pay the Claimant interest on the aforesaid damages from the date of Judgment at a daily rate of USD24.92 until payment is made.
5. Ordered that the Defendant pay the Claimant’s costs of its claim plus interest at the rate of 9% from 17 June 2019 up to and including 20 December 2020 and at the rate of 10.25089% (10% above Base Rate) from 21 December 2020 until payment is made, the costs to be assessed on the standard basis up to and including 20 December 2020 and on the indemnity basis from 21 December 2020 if not agreed.
Issued by:
Nour Hineidi
Registrar
Date of Issue: 23 August 2021
Time: 12.30pm
