May 20, 2024 COURT OF FIRST INSTANCE - ORDERS
Claim No. CFI 090/2022
IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE
IN THE COURT OF FIRST INSTANCE
BETWEEN
BANK OF SINGAPORE LIMITED
Claimant
and
(1) MARJ HOLDING LIMITED
(2) MOHAMMED AHMAD RAMADHAN JUMA
Defendants
ORDER WITH REASONS OF JUSTICE RENE LE MIERE
UPON the Judgment of Justice Rene Le Miere dated 20 November 2023 (the “Judgment”)
AND UPON the Order with Reasons of Justice Rene Le Miere dated 3 January 2024 (the “Costs Order”)
AND UPON the Defendants’ Application No. CFI-090-2022/4 dated 18 January 2024 seeking a stay of the Judgment and the Costs Order (the “Stay Application”)
AND UPON the Claimant’s evidence in answer the Stay Application dated 1 February 2024
AND UPON hearing Counsel for the Claimant and Counsel for the Defendants at a hearing held on 22 April 2024
IT IS HEREBY ORDERED THAT:
1. The Defendants’ Application No. CFI-090-2022/4 for a stay of the Judgment and the Costs Order is dismissed.
2. The Defendants shall pay the Claimant’s costs of the application on the standard basis to be assessed by the Registrar if not agreed.
Issued by:
Hayley Norton
Assistant Registrar
Date of issue: 20 May 2024
At: 11am
SCHEDULE OF REASONS
1. On 20 November 2023 the Court ordered:
(1) The Immediate Judgment Application is granted.
(2) Judgment shall be entered in favour of the Claimant against each of the Defendants in the sum of USD 55,884,582.50.3.
(“the Judgment Order”)
2. On 3 January 2024 the Court ordered:
(1) The Defendants jointly and severally pay the Claimant’s costs of the Immediate Judgment Application to be assessed by a detailed assessment of the costs by the Registrar if not agreed.
(2) The Defendants jointly and severally pay the Claimant’s costs of the Case except the extra costs caused by the misrepresentation claim to be assessed by a detailed assessment of the costs by the Registrar if not agreed.
(3) The Defendants pay the Claimant the sum of AED 500,000 by way of an interim payment on account, within 14 days of the date of this Order.
(“the Costs Order”)
3. By Application No CFI-090-2022/4 issued on 18 January 2024, the Defendants applied for an order staying the Judgment Order and the Costs Order until the disposition of the Defendants’ applications for permission to appeal against the Judgment Order and the Costs Order (“the PTA Applications”).
4. The Court has dismissed the PTA Applications.
5. Accordingly, the Defendants’ stay application must be dismissed with costs.
6. The Court will order:
(1) The Defendants’ Application No. CFI-090-2022/4 for a stay of the Judgment Order of 20 November 2023 and the Costs Order of 3 January 2024 is dismissed.
(2) The Defendants shall pay the Claimant’s costs of the application on the standard basis to be assessed by the Registrar if not agreed.
