December 16, 2020 COURT OF FIRST INSTANCE - ORDERS
Claim No CFI 043/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
BANK OF BARODA (DIFC BRANCH)
Claimantand
and
(1) NEO PHARMA LLC
(2) NMC HEALTHCARE LLC
(3) NEW MEDICAL CENTRE LLC
(4) MR. BAVAGUTHU RAGHURAM SHETTY
Defendants
CONSENT ORDER
UPON the Claimant filing a Claim Form on 6 May 2020 and a Particulars of Claim on 12 May 2020
UPON the Claimant requesting to amend the Claim Form and Particulars of Claim by email on 21 May 2020 and filing an amended Claim Form and Particulars of Claim on 21 May 2020
UPON the Second Defendant filing an Acknowledgment of Service on 26 May 2020
UPON the Claimant filing an amended Claim Form and Particulars of Claim on 27 May 2020
UPON the Claimant making an application to serve by alternative method of service on 27 May 2020
UPON the Court issuing an Order on 8 June 2020 and an Amended Order on 11 June 2020 directing that pursuant to Rule 9.31 of the Rules of the DIFC Court (“RDC”), the Claimant is granted permission to serve Claim No. CFI-043-2020 on the Defendants by the alternative method of service
UPON the Second Defendant filing its Defence on 12 July 2020
UPON the Third Defendant filing its Defence on 27 July 2020
UPON the Claimant filing a Reply to the Second and Third Defendants’ Defence on 30 July 2020
UPON the Second and Third Defendants filing a letter application on 23 September 2020 (“Stay Application”)
UPON the Claimant filing an Objection to the Stay Application and an Amended Objection to the Stay Application on 11 October 2020
UPON the Second and Third Defendants being continued into the Abu Dhabi General Market (“ADGM”) as NMC Healthcare LTD and New Medical Centre LTD respectively and an administration order being issued by the ADGM Courts on 27 September 2020 in relation to the Second and Third Defendants (and others) (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”)
UPON the Court issuing an Order dated 3 November 2020 directing that the Stay Application will be adjourned pending the Court's determination of the Recognition Application, or adjourned to the first available date after 26 November 2020 if the Recognition Application has not been given a fixed hearing date by 26 November 2020.
UPON the Recognition Application being heard before Justice Martin in the DIFC Court on 10 November 2020, and the Judge directing, inter alia, that the Joint Administrators shall be entitled to the active assistance of the DIFC Courts in carrying out their functions as administrators
AND UPON the Claimant and the Second and Third Defendants having agreed to the terms set forth
IT IS HEREBY ORDERED BY CONSENT THAT:
1. There will be an interim stay of these proceedings as against the Second and Third Defendants. The interim stay will remain in place as against the Second and Third Defendants until the administration proceedings in the ADGM are brought to an end as against the Second and Third Defendants in accordance with the provisions of the ADGM Insolvency Regulations (2015) (as in force from time to time).
2. In the event that the administration proceedings are brought to an end / the Joint Administrators' appointment ceases to have effect / the Joint Administrators are removed from office (in respect of the Second and/or the Third Defendant), the Joint Administrators shall comply with the notification provisions set out in the ADGM Insolvency Regulations (2015) (as in force from time to time) and shall in any event notify the Claimant of the end of the administration or cessation of their appointment as soon as practicable.
3. Liberty to apply.
4. Costs in the case.
Issued by:
Nour Hineidi
Registrar
Date of issue: 6 December 2020
Date of re-issue: 16 December 2020
At: 1pm
