Claim No: CFI 007/2008
THE JUDICIAL AUTHORITY OF THE DUBAI INTERNATIONAL FINANCIAL CENTRE
IN THE COURT OF FIRST INSTANCE
BEFORE H.E. JUSTICE OMAR AL MUHAIRI
BETWEEN:
ORDER MADE ON 10 FEBRUARY 2010
UPON
The re-hearing of the Detailed Assessment of the Claimant's and the Defendant's Costs on an Appeal by the Claimant on 10 February 2010
Reading the Claimant's and Defendant's submissions on interest
Reviewing the Emirates Interbank Offered Rates of the Central Bank of the UAE
AND UPON reading the Bank Statement of DIFC Judicial Authority issued by HSBC Bank dated 31 August 2009.
IT IS ORDERED THAT:
1. The Claimant may immediately apply to the
Registrar of the
DIFC Courts for payment of the AED 50,000 held in the DIFC Courts' escrow account pursuant to the Order of Justice Sir John Chadwick dated 20 August 2009.
2. The Claimant's costs of the proceedings in CFI 007/2008 pursuant to the Order of Justice Sir John Chadwick dated 20 August 2009 are assessed in the amount of AED 43,250.
3. The Claimant's costs of the Detailed Assessment proceedings of 28 October and 3 November 2009 are assessed on a summary basis in the amount of AED 26,865.
4. The Defendant's costs of proceedings in CFI 007/2008 pursuant to the Order of Justice Tan Sri Siti Norma Yaakob dated 23 April 2009 are assessed at AED 45,955.50.
5. The Defendant's costs of the Detailed Assessment proceedings of 23 November 2009 are assessed on a summary basis in the amount of AED 17,000.
6. Pursuant to paragraph 6 of the Order of 20 August 2009, the amounts owing to each party are hereby set off, with the balance of AED 7,159.50 to be paid by the Defendant to the Claimant within 14 days of this Order.
7. Each party to bear their own costs of Application No. 079/2009 and the Appeal heard on 10 February 2010.
8. Pursuant to paragraph 1 of the Order of 20 August 2009 the Defendant is liable to pay to the Claimant interest at the rate of 2.9% (EIBOR +1%) on the sum of AED 200,000 for the period 5 July 2009 to 31 August 2009 as date of payment.
9. There is no order in respect of the interest on costs.
H.E. Justice Omar Al Muhairi
Date of Issue: 4 April 2010
At: 3pm
