March 01, 2022 court of first instance - Orders
Claim No: CFI 045/2020
IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
(1) EMIRATES NBD BANK PJSC
(2) HSBC BANK MIDDLE EAST LIMITED
(3) ICICI BANK LIMITED, BAHRAIN LIMITED
(4) ICICI BANK UK PLC
(5) UNION BANK OF INDIA
(6) BANK OF JORDAN COMPANY
(7) NATIONAL BANK OF BAHRAIN BSC
(8) AHLI UNITED BANK BSC (DIFC BRANCH)
(9) COMMERCIAL BANK OF DUBAI PSC
(10) WARBA BANK KSCP
Claimants
and
(1) KBBO CPG INVESTMENT LLC
(2) MR KHALEEFA BUTTI BIN OMAIR YOUSIF ALMUHARI
(3) HIS EXCELLENCY SAEED MOHAMED BUTTI MOHAMED ALQEBAISI
(4) INFINITE INVESTMENT LLC
(5) GROUP OF FATHIMA CO LLC
(6) FATHIMA SUPERMARKET LLC (SHARJAH)
(7) FATHIMA SUPERMARKET WLL (ABU DHABI)
(8) FATHIMA TRADING & SUPERMARKET COMPANY WLL
(9) FAIRWAY GENERAL TRADING
(10) FAIRWAY CATERING SERVICES LLC (DUBAI)
(11) FAIRWAY CATERING SERVICES LLC (ABU DHABI)
(12) FATIMA GENERAL MARKET LLC
(13) TELE LINK COMMUNICATION LLC
(14) ONE PREPAY COMPANY LLC
(15) TECHLINK SYSTEMS LLC
(16) FRESHLY FROZEN FOODS FACTORY LLC
(17) SENORA FOODS LLC
(18) SPECTRAMI DMCC
(19) ONE PREPAY COMPANY LLC (KSA BRANCH)
Defendants
ORDER OF JUSTICE SIR JEREMY COOKE
UPON the Claimants’ request for default judgment dated 7 February 2022 (the "Request") and the accompanying affidavit of Ms. Grieve dated 4 February 2022, it is found as follows:
1. The Request is not one prohibited by RDC 13.3.
2. The Fifth, Sixth, Seventh, Eighth, Ninth, Tenth, Eleventh, and Twelfth Defendants have not filed a defence and the time for doing so has expired.
3. The Fifteenth Defendant has not filed an acknowledgement of service and the time for doing so has expired.
4. The Request includes a request for interest pursuant to RDC 13.14 and the Second Witness Statement of Ms. Grieve dated 24 October 2021 sets out the calculation of interest up to 27 October 2021.
IT IS HEREBY ORDERED THAT:
1. The Request is granted.
2. The Fifth, Sixth, Seventh, Eighth, Ninth, Tenth, Eleventh, Twelfth and Fifteenth Defendants (the "Defendants") shall forthwith pay the following sums:
(a) US$32,280,092.65 plus contractual interest of US$3,059,735.12 owing as at 27 October 2021 to ICICI Bank Limited, Bahrain Branch.
(b) US$16,018,675.76 plus contractual interest of US$1,517,847.05 owing as at 27 October 2021 to ICICI Bank UK PLC.
(c) US$19,394,593.51 plus contractual interest of US$1,838,213.38 owing as at 27 October 2021 to Bank of Jordan Company.
(d) US$24,153,650.45 plus contractual interest of US$2,289,198.81 owing as at 27 October 2021 to Union Bank of India.
(e) US$29,074,825.23 plus contractual interest of US$2,755,688.12 owing as at 27 October 2021 to National Bank of Bahrain BSC.
(f) US$92,742,926.75 plus contractual interest of US$8,790,673.18 owing as at 27 October 2021 to HSBC Bank Middle East Limited.
(g) US$14,514,557.14 plus profit of US$1,288,760.10 owing as at 27 October 2021 to Ahli United Bank BSC (DIFC Branch).
(h) US$14,616,119.30 plus profit of US$1,300,446.98 owing as at 27 October 2021 to Commercial Bank of Dubai PSC.
(i) US$47,998,177.85 plus profit of US$4,251,716.56 plus agency fees of US$35,000 owing as at 27 October 2021 to Warba Bank K.S.C.P.
3. Pursuant to Article 39 of the Court Law (DIFC Law No. 10 of 2004) and DIFC Practice Direction No. 4, simple interest shall run on the sums due under paragraph 7 from the date of this Order until payment at the rate of 9% per annum.
4. For the avoidance of doubt, the Defendants identified in paragraphs 7 are jointly and severally liable to pay the sums ordered in paragraphs 7 above.
5. This order is final and executory in the execution courts.
MANDATORY FINAL INJUNCTION
6. The Defendants (or such of them as continue to hold them) shall within 14 days of the date of this order pay such of the Trust Funds as remain in their hands to the relevant Claimants and take such steps as are reasonably available to procure the payment of the Trust Funds to the relevant Claimants.
7. The Defendants shall as soon as reasonably practicable and in any event within 7 days provide an account as to the use the Defendants have made of the Trust Funds, including any assets, profits and interest derived therefrom together with orders that the assets are transferred, and profits and interest are paid, to the relevant Claimants.
8. The Defendants shall as soon as reasonably practicable and in any event within 7 days comply with clause 11.3(a) of the Common Terms Agreement.
9. For the purposes of paragraphs 11 and 12, "Trust Funds" means those funds transferred by payments numbered 1 to 6, 8 to 11 and 14-21 in Schedule 2 to the Particulars of Claim dated 20 September 2021 totalling US$189,485,746.66. Save as expressly provided in this order, the the Orders of Justice Sir Jeremy Cooke dated 15 May 2020, 21 May 2020, 1 June 2020, and the Post Judgment Freezing Order 28 October 2021 (as amended) remain in full force and effect.
COSTS
10. The Defendants shall pay the Claimants’ costs of and occasioned by the Request on an indemnity basis to be immediately assessed in the sum of US $10,000.
Issued by:
Nour Hineidi
Registrar
Date of issue: 1 March 2022
At: 12.15pm
