June 11, 2020 court of first instance - Orders
Claim No. CFI 040/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
E D & F MAN CAPITAL MARKETS LIMITED
Claimant
and
(1) PHOENIX COMMODITIES (PVT) LIMITED
(2) PHOENIX GLOBAL DMCC
Defendants
AMENDED DEFAULT JUDGMENT MADE BY JUDICIAL OFFICER MAHA AL MEHAIRI
UPON the request made by the Claimant on 2 June 2020 for a Default Judgment against the Defendants in accordance with Part 13 of the Rules of the DIFC Courts (“RDC”), it is found as follows:
1. The request is not one prohibited under RDC 13.3 (1) or (2).
2. The request is one permitted by RDC 13.4 on the basis that the Defendants have failed to file an Acknowledgment of Service or a Defence to the claim (or any part of the claim), with the DIFC Courts, and the relevant time for so doing has expired.
3. The Claimant filed a Certificate of Service in respect of the Second and Third Defendants under RDC 9.43 on 30 April 2020.
4. The Claimant has followed the required procedure for obtaining Default Judgment (RDC 13.7, 13.8).
5. The request includes a request for interest pursuant to RDC 13.14 and the Claim Form sets out the calculation of interest in the claim.
ACCORDINGLY, IT IS HEREBY ORDERED THAT:
6. The request for Default Judgment is granted
7. The First and Second Defendants shall pay to the Claimant within 14 days, from the date of this Order, the judgment sum of USD $2,735,317.63 (“Judgment Sum”).
8. Interest in terms of Article 17 of the DIFC Law of Damages. I state, for the purposes of Article 17 of the DIFC Law of Damages, that the prevailing prime lending rate published by the Bank of England is 0.10 per cent. Accordingly, the Claimant is entitled to interest at a daily rate of USD 2,735.32 per day from 17 March 2020 until full payment.
9. The First and Second Defendants are jointly and severally liable to the Claimant for the Judgment Sum.
10. The Defendants shall pay the Claimant’s costs of these proceedings in the amount of USD 94,194.23 which comprises the filing fee in respect of the filing of the claim form at the DIFC Courts, the Claimant’s legal costs, until the date this request was fully pleaded and disbursements.
Issued by:
Nour Hineidi
Deputy Registrar
Date of issue: 10 June 2020
Date of re-issue: 11 June 2020
At: 9am
