August 15, 2018 court of first instance - Orders
Claim No. CFI-053-2018
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
IN THE MATTER OF ABRAAJ CAPITAL LIMITED
(IN PROVISIONAL LIQUIDATION)
Applicant
ORDER OF H.E. JUSTICE ALI AL MADHANI
UPON the Application of ABRAAJ Capital Limited (the “Company”) dated 1 August 2018 for the appointment of joint provisional liquidators to the Company pursuant to Article 59 of the DIFC Insolvency Law No 3 of 2009
UPON hearing Counsel for the Company at a hearing held before H.E. Justice Ali Al Madhani on 14 August 2018
UPON reading the petition for the winding up of the Company filed with the Court on 1 August 2018 (the “Petition”)
AND UPON reviewing the evidence recorded on the Court file
IT IS HEREBY ORDERED THAT:
1. Mr David Soden and Mr Phil Bowers of Deloitte LLP, Al Fattan Currency House, DIFC, Building 1, Dubai, PO Box 112865 are hereby appointed as Joint Provisional Liquidators of the Company.
2. The Joint Provisional Liquidators shall have all the powers as set out in Schedule 3 of the Insolvency Law, DIFC Law No.3 of 2009, with the exception of those listed at paragraphs 1, 9, 10 and 11.
3. The Company shall cause the Petition to be advertised pursuant to Rules of the DIFC Courts (“RDC”) 54.62 and published in accordance with RDC 54.63 and the Practice Direction (PD 3/2011) not less than seven business days before the date appointed for the hearing of the Petition.
4. From the date and time of this Order, no suit, action or other proceeding shall be proceeded with or commenced against the Company except with the leave of this Court and subject to such terms as this Court may impose.
5. The Joint Provisional Liquidators shall file an up-to-date financial statement with respect to the Company within 30 days of the date of this Order.
6. The Joint Provisional Liquidators shall be at liberty to apply for such further or other directions as they may deem necessary.
AND IT IS FURTHER ORDERED THAT:
7. Costs of the Application be reserved to the hearing of the Petition.
Issued by:
Ayesha Bin Kalban
Assistant Registrar
Date of issue: 15 August 2018
At: 4pm
