CFI 043/2014 DNB Bank ASA v (1) Gulf Eyadah Corporation  (2) Gulf Navigation Holding Pjsc
CFI 043/2014 DNB Bank ASA v (1) Gulf Eyadah Corporation  (2) Gulf Navigation Holding Pjsc
July 18, 2016  court of first instance - Orders,Orders
Claim No: CFI-043-2014
THE DUBAI INTERNATIONAL FINANCIAL CENTRE
COURTS
IN THE
COURT
OF FIRST INSTANCE
BEFORE H.E. JUSTICE ALI AL MADHANI
BETWEEN
DNB BANK ASA
Claimant
and
(1) GULF EYADAH CORPORATION
(2) GULF NAVIGATION HOLDING PJSC
Defendants
ORDER OF H.E JUSTICE ALI AL MADHANI
UPON
reviewing the Claim Form filed on 1 December 2014
AND UPON
reviewing the judgment of H.E. Justice Al Madhani in the
Court
of First Instance dated 16 March 2015
AND UPON
reviewing the judgment of the Court of Appeal dated 25 February 2016
AND UPON
reviewing the Order with Reasons of H.E. Justice Al Madhani in the Court of First Instance dated 24 May 2016
AND UPON
reviewing the parties’ submissions on costs and interest
IT IS HEREBY ORDERED THAT
1.The Commercial Court Order issued by the English Commercial Court on 30 September 2014 is recognised and enforced.
2. The Defendants shall pay to the Claimant the sums of:
USD 8,730,236.09; and
GBP 8,281.84.
3. The Defendants pay to the Claimant interest of 1% over EIBOR from the date of this order.
4. The Defendants pay the Claimant’s costs of these proceedings, to be assessed by the
Registrar
if not agreed.
5. The Defendants make a payment on account of costs to the Claimant in the sum of USD 25,000, payable within 14 days of this Order.
6. All obligations of the Defendants are joint and several.
Issued by:
Mark Beer
Registrar
Date of issue: 18 July 2016
At: 4pm