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Claim No. TCD 001/2020

THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

IN THE COURT OF FIRST INSTANCE

BETWEEN

HUOBI OTC DMCC

Claimant

and

(1) TABARAK INVESTMENT CAPITAL LIMITED
(2) MR CHRISTIAN THURNER

Defendants

ORDER OF JUSTICE SIR RICHARD FIELD

UPON the matter being listed for a Pre-Trial Review on 27 October 2021 and 1 November 2021 (the “PTR”)

AND UPON the Application of the Claimant dated 18 October 2021 (Application No. TCD-001-2020/9) (the “Claimant’s Amendment Application”)

AND UPON the Applications of the Second Defendant dated 22 October (Application No. TCD-001-2020/10) and 26 October 2021 (Application No. TCD-001-2020/11) (collectively the “Security for Costs Application”) for an order for security for costs against the Claimant

AND UPON reading the second witness statement of Mr. Sultan Bin Kharsham Al Ali dated 25 October 2021 and the first witness statement of Mr. Mohit Davar dated 26 October 2021 pursuant to which the said individuals offered security for costs to the First and Second Defendants

AND UPON hearing the oral submissions made by Counsel for the Claimant, the First Defendant and the Second Defendant at the PTR

AND UPON the Court having read the documents on the Court file marked as read

IT IS HEREBY ORDERED AND DIRECTED THAT:

The Claimant’s Amendment Application

1. The Claimant is permitted to join Huobi MENA FZE to the proceedings as Second Claimant and to re-amend its Claim Form and its Particulars of Claim in the form attached to this Order, such amendments to take effect from the date of the Order.

2. The Claimant shall pay the Defendants’ costs of and occasioned by the amendments.

3. The Claimant shall pay the First Defendant’s costs of the Claimant’s Amendment Application limited to the costs occasioned by the Claimant’s application to amend its heads of loss assessed in the sum of AED 60,000, payable within 14 days from the date of the Order.

4. The Claimant shall pay the Second Defendant’s costs of the Claimant’s Amendment Application limited to the costs occasioned by the Claimant’s application to amend its heads of loss in the sum of AED 17,000. This sum shall only become payable once all questions of costs as between the Claimant and the Second Defendant have been determined following the conclusion of the trial and subject to any right of set off in favour of the Claimant.

5. Pursuant to RDC 28.4 the Claimant is permitted to redact the documents referred to (and on the basis set out) in the Second Witness Statement of Peter Oliver Smith dated 18 October 2021.

The Security for Costs Application

6. On behalf of the Claimant and Huobi Mena FZE (upon being added as a party to the proceedings) Mr. Sultan Bin Kharsham Al Ali and Mr. Mohit Davar shall provide security on the following basis:

7. The Claimant shall pay the Second Defendant’s costs of and occasioned by its Security for Costs Application in the sum of AED 65,000. This sum shall only become payable once all questions of costs as between the Claimant and the Second Defendant have been determined following the conclusion of the trial and subject to any right of set off in favour of the Claimant.

Procedural Directions

8. The following deadlines in the directions in the Amended Case Management Order (as varied) dated 22 June 2021 shall be varied as follows:

9. In addition:

10. Save for the cost orders made in paragraphs 2, 3, 4 and 7 above, all other costs of the PTR shall be costs in the case.

11. Liberty to apply.

Issued by:
Nour Hineidi
Registrar
Date of Issue: 18 November 2021
At: 4pm

SCHEDULE A

PROPERTIES OF MESSRS SULTAN BIN KHARSHAM AL ALI AND MOHIT DAVAR

1. Sultan Bin Kharsham Al Ali (“Mr Ali”)

2. Mohit Davar (“Mr Davar”)

SCHEDULE B

UNDERTAKINGS GIVEN TO THE COURT BY MR AL ALI AND MR DAVAR

PENAL NOTICE

IF YOU, MR AL ALI AND MR DAVAR, DISOBEY THESE UNDERTAKINGS YOU MAY BE HELD TO BE IN CONTEMPT OF COURT AND MAY BE IMPRISONED, FINED OR HAVE YOUR PROPERTIES SEIZED.

ANY OTHER PERSON WHO KNOWS OF THIS ORDER AND DOES ANYTHING WHICH HELPS IR PERMITS MR AL ALI AND MR DAVAR TO BREACH THE TERMS OF THIS UNDERTAKING MAY ALSO BE HELD IN CONTEMPT OF COURT AND MAY BE IMPRISONED, FINED OR HAVE THEIR ASSETS SEIZED.

Mr Al Ali and Mr Davar undertake as follows: