CFI 026/2009 (1) Rafed Abdel Mohsen Bader Al Khorafi (2) Amrah Ali Abdel Latif Al Hamad (3) Alia Mohamed Sulaiman Al Rifai v (1) Bank Sarasin-Alpen (ME) Limited (2) Bank Sarasin & Co. Ltd
CFI 026/2009 (1) Rafed Abdel Mohsen Bader Al Khorafi (2) Amrah Ali Abdel Latif Al Hamad (3) Alia Mohamed Sulaiman Al Rifai v (1) Bank Sarasin-Alpen (ME) Limited (2) Bank Sarasin & Co. Ltd
October 28, 2018  court of first instance - Orders
Claim No: CFI 026/2009
IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE
COURTS
IN THE
COURT
OF FIRST INSTANCE
BETWEEN
(1) RAFED ABDEL MOHSEN BADER AL KHORAFI
(2) AMRAH ALI ABDEL LATIF AL HAMAD
(3) ALIA MOHAMED SULAIMAN AL RIFAI
Claimants
and
(1) BANK SARASIN-ALPEN (ME) LIMITED
(2) BANK SARASIN & CO. LTD
Defendants
ORDER OF JUSTICE SIR DAVID STEEL
UPON
reading (i) the Order made by Deputy
Chief Justice
Sir John Chadwick on 28 October 2014 (but issued on 30 October 2014), (ii) the Orders made by Justice Roger Giles on 25 February 2015 and (as a single judge of the
Court
of Appeal) on 5 April 2015 (iii) the Order made by Justice Sir Richard Field on 21 May 2015 and (iv) the Order made by Justice Sir John Chadwick on 3 November 2015 ("the November 2015 Order");
AND UPON
reading (i) the written submissions and other documents filed on behalf of the parties pursuant to paragraphs 8 and 9 of the November 2015 Order (ii) the witness statement of Christopher Butler dated 24 November 2015 and (iii) the witness statement of Salomon Sebban dated 22 December 2015
AND UPON
reading (i) the written submissions and other documents filed on behalf of the parties pursuant to paragraphs 2 and 3 of the 16 January 2017 Order (ii) the second witness statement of Christopher Butler dated 13 February 2017 and (iii) the certificate of Salomon Sebban dated 17 February 2017 and the submissions of the Claimants dated 13 March 2017
AND UPON
reading all documents received on the Court file
IT IS HEREBY ORDERED THAT
:
1. The Defendants shall jointly and severally within 14 days make an interim payment in regard to pre-judgement interest in respect of the Head (A) Losses (for the purposes of paragraph 4 of the November 2015 Order) in the amount of USD 1,457,013.00
2. The Interest due shall be allocated between the Claimants in accordance with the following formula:
Party
Percentage Share
First
Claimant
12.10%
Second Claimant
81.76%
Third Claimant
6.14%
TOTAL
100.00%
3. The Defendants shall, jointly and severally, pay within 14 days to the Claimants' USD 593,313.35 by way of an interim payment of costs arising from the Quantum Determination.
AND IT IS FURTHER ORDERED THAT:
4. Nothing in this Order shall, without further order, (i) permit the Claimants to enforce orders for payment against the assets of the First
Defendant
(a company in liquidation) or (ii) require the liquidator of the First Defendant to make payments out of the assets of that company.
Issued by:
Ayesha Bin Kalban
Assistant
Registrar
Date of Issue: 28 October 2018
At: 12pm