CFI 026/2014 Standard Chartered Bank v Investment Group Private Limited
CFI 026/2014 Standard Chartered Bank v Investment Group Private Limited
August 14, 2016  court of first instance - Orders,Orders
Claim No: CFI-026-2014
THE DUBAI INTERNATIONAL FINANCIAL CENTRE
COURTS
IN THE
COURT
OF FIRST INSTANCE
BEFORE JUSTICE SIR DAVID STEEL
BETWEEN
STANDARD CHARTERED BANK
Claimant
and
INVESTMENT GROUP PRIVATE LIMITED
Defendant
ORDER OF JUSTICE SIR DAVID STEEL MADE ON 28 JUNE 2016
UPON
reviewing the Defendant’s Application Notice CFI-026-2014/4 dated 13 June 2016 (the “Application”) and supporting documents seeking a stay of the proceedings pending a determination of the Defendant’s petition by the Union Supreme
Court
;
AND UPON
considering the submissions and evidence filed by the parties in relation to the Application
AND UPON
hearing Counsel for the Claimant and Counsel for the Defendant on 28 June 2016;
IT IS HEREBY ORDERED THAT:
The Application is dismissed.
The Defendant shall pay the Claimant the amount of USD 90,000 as an interim payment on account of the Claimant’s costs of the Application on or before 11 August 2016.
The Claimant shall be entitled to the remainder of its costs of the Application to be assessed by the
Registrar
on an indemnity basis if not agreed.
Issued by:
Amna Al Owais
Deputy Registrar
Date of issue: 14 August 2016
At: 3pm