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Claim No. CFI 036/2020

THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

IN THE COURT OF FIRST INSTANCE

BETWEEN

CREDIT EUROPE BANK (DUBAI) LTD

Claimant

and

(1) NEW MEDICAL CENTRE TRADING LLC
(2) NMC HEALTHCARE LLC
(3) BAVAGUTHU RAGHURAM SHETTY

Defendants

CONSENT ORDER BETWEEN THE CLAIMANT AND THE FIRST AND SECOND DEFENDANTS

UPON the Claimant filing a Claim Form (including a Particulars of Claim) on 19 April 2020

UPON the Third Defendant filing a Defence on 28 May 2020 and the First and Second Defendant filing a Defence on 3 June 2020

UPON the Claimant filing a Reply to the Third Defendant’s Defence on 18 June 2020

UPON the Court Registry listing a Case Management Conference on 4 August 2020

UPON the Claimant filing an application dated 30 July 2020 for immediate judgment against the First and Second Defendants and, in the alternative, to strike out the First and Second Defendants’ Defence (the “Claimant’s Immediate Judgment Application”)

UPON the parties agreeing to vacate the Case Management Conference listed on 4 August 2020 and agreeing for it to be relisted on the first available date after a hearing of the Claimant’s Immediate Judgment Application

UPON the Claimant filing and serving the Claimant’s Immediate Judgment Application on 3 August 2020

UPON the First and Second Defendants applying for a stay of proceedings in light of Cabinet Resolution No (17) of 2020 or in the alternative an extension in which to file their Evidence in Answer of the Claimant’s Immediate Judgment Application on 7 September 2020 (issued on 8 September 2020) (the “Stay Application”)

UPON the First and Second Defendants filing their Evidence in Answer of the Claimant’s Immediate Judgment Application on 13 September 2020

UPON the Claimant responding by email to the Stay Application on 10 September 2020

UPON the Judge with conduct of the matter providing directions in relation to the Stay Application on 16 September 2020

UPON the First and Second Defendants, on 17 September 2020, suggesting an extension to the timetable directed by the Judge in response to the Stay Application given the impending administration application in the Abu Dhabi Global Market (the “ADGM”) Court on 27 September 2020

UPON the Judge with conduct of the matter providing revised directions with regards to the Stay Application on 17 September 2020

UPON the First and Second Defendants filing their evidence in support of the Stay Application on 22 September 2020

UPON the First and Second Defendants being continued into the ADGM as New Medical Centre Trading LTD and NMC Healthcare LTD respectively and an administration order being issued by the ADGM Courts on 27 September 2020 in relation to, inter alia, the First and Second Defendants (the “Administration Order”) and Mr Benjamin Cairns and Mr Richard Fleming of Alvarez & Marsal Europe LLP being appointed joint administrators (the “Joint Administrators”)

UPON the Joint Administrators filing an application for recognition of the Administration Order in the DIFC Courts on 20 October 2020 under DIFC Court Claim No CFI-090-2020(the “Recognition Application”)

AND UPON the Claimant and the First and Second Defendants having agreed to the terms set forth

IT IS HEREBY ORDERED BY CONSENT THAT:

1. The Claimant’s claim against the First and Second Defendants, including the Immediate Judgment Application and the Stay Application, is stayed on an interim basis pending the Court’s determination of the Recognition Application.

2. Notwithstanding the interim stay pursuant to paragraph 1, the First and Second Defendants (including where acting by their Joint Administrators) will consider and comply where appropriate with any reasonable request for the production of documents served on them by the Claimant in the course of this proceeding in relation to the Claimant’s claim as against the Third Defendant, provided that such requests are properly sought and not onerous or are required to be produced by the First and Second Defendants pursuant to the relevant provisions of the Rules of the DIFC Courts (such production will not extend to documents obtained by the Joint Administrators in the course of their investigations into the affairs of the First and Second Defendant and related companies that would not otherwise have been in the possession or control of the First and Second Defendants, and does not extend to disclosure of documents that would prejudice the interests of administration estates). Parties are to agree the First and Second Defendants’ reasonable costs associated with any such production on the condition that any requests for production are made and complied with voluntarily and such compliance is adhered to during the period of time in which the proceedings are stayed against the First and Second Defendants. Such costs will be agreed before the production of the documents and paid within a reasonable time thereafter

3. Paragraph 2 is limited to the period in which this proceeding is stayed against the First and Second Defendants

4. Costs in the case.

5. Liberty to apply.

Issued by:
Nour Hineidi
Registrar
Date of issue: 3 November 2020
Time: 2.15pm