October 02, 2023 COURT OF FIRST INSTANCE - ORDERS
Claim No. CFI 032/2021
IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
ARAMCO TRADING FUJAIRAH FZE
Claimant
and
GULF PETROCHEM FZC
Defendant
CONSENT ORDER
UPON reviewing the Claimant’s Application Notice dated 5 June 2023 (the “Summary Judgment Application”) seeking an order for summary judgment against the Defendant in relation to: (i) the recognition of the judgment order of the English Commercial Court dated 21 January 2022 and sealed on 08 February 2022 (the “Judgment Order”); and (ii) the Order for Costs of the English Commercial court dated 08 April 2022 (the “Order for Costs”)
AND UPON reviewing the Claimant’s Application Notice dated 05 June 2023 seeking permission of the Court to amend the Particulars of Claim under RDC 18.2(2) (the “Amendment Application”)
AND UPON reviewing the amended Particulars of Claim to which the Amendment Application relates (the “Amended Particulars of Claim”) and applying the terms defined in the Amended Particulars of Claim in this Consent Order
AND UPON reviewing the Second Witness Statement of Mr. Frederic Akiki served and filed on 05 June 2023, and the Third Witness Statement of Mr. Frederic Akiki served and filed on 25 July 2023
AND UPON the Defendant having confirmed that it no longer intends to oppose the Summary Judgment Application or attend the hearing of the Summary Judgment Application listed for 30 August 2023 before Justice Wayne Martin
AND PURSUANT TO Rule 24.1 of the Rules of the DIFC Courts
IT IS HEREBY ORDERED BY CONSENT THAT:
1. The Summary Judgment Application is granted.
2. The Judgment Order of the English Commercial Court dated 21 January 2022 and sealed on 08 February 2022 in respect of the English Proceedings is hereby recognised pursuant to Article 24(1)(a) of the DIFC Court Law.
3. The Order for Costs of the English Commercial Court dated and sealed on 08 April 2022 in respect of the English Proceedings is hereby recognised pursuant Article 24(1)(a) of the DIFC Court Law.
4. The Defendant shall pay the Claimant:
(a) USD 3,350,000.00, this being the Settlement Sum paid by the Claimant to Banque Cantonale de Genève in full and final settlement of the Singapore Proceedings;
(b) SGD 31,113.75, or the Sterling equivalent at the time of payment, this being the costs the Claimant was held liable to pay in Singapore dollars (SGD) in respect of the arrest of the Vessel and the Singapore Proceedings;
(c) SGD 536,339.58 or the Sterling equivalent at the time of payment, this being the Claimant’s legal costs incurred in Singapore dollars (SGD) in respect of the arrest of the Vessel and Singapore Proceedings up to 21 January 2022;
(d) NOK 229,950 or the Sterling equivalent at the time of payment, this being the costs the Claimant was held liable to pay in Norwegian Krona (NOK) in respect of the arrest of the Vessel and the Singapore Proceedings up to 21 January 2022;
(e) GBP 7,206.50, this being the costs the Claimant was held liable to pay in Sterling (GBP) in respect of the arrest of the Vessel and the Singapore Proceedings up to 21 January 2022;
(f) Pre-judgment interest on the above at a rate of 1.7% for the Singapore dollar (SGD) and Norwegian Krone (NOK) sums, and at a rate of 1.5% above the Bank of 3 of 3 England base rate for the Sterling (GBP) sums from the dates the sums were paid by the Claimant until 21 January 2022;
(g) Post-judgment interest on the above sums at the same rates as set out at (f) above from 21 January 2022 until the date of payment by the Defendant;
(h) GBP 153,392.22, this being the sum awarded for the costs of the Claim and Application in the Order for Costs;
(i) Pre-judgment interest at the rate of 1.5% above the Bank of England base rate from the dates the costs covered by the Order for Costs were paid to the Claimant until 21 January 2022;
(j) Post-judgment interest on the costs covered by the Order for Costs at the rate of 1.5% above the Bank of England base rate from 21 January 2022 until the date of payment by the Defendant;
(k) SGD 515,800.36, this being the legal costs incurred in Singapore dollar (SGD) in respect of the Singapore Proceedings from 21 January 2022 to the date of the Settlement Agreement;
(l) USD 117,000 this being the sum the Defendant has agreed to pay in respect of the Claimant’s legal costs incurred in these proceedings; and
(m) Such further or other relief as this Court shall determine, including interest on the sums ordered to be paid by the Defendant to the Claimant.
5. Pursuant to RDC 45.20, the executory formula specified in RDC 45.20 shall be affixed on the ratified Judgment Order.
6. Pursuant to RDC 45.20, the executory formula specified in RDC 45.20 shall be affixed on the ratified Order for Costs.
Issued by:
Hayley Norton
Assistant Registrar
Date of Issue: 2 October 2023
At: 3pm