Technology and Construction Division
TCD 009/2020 Five Real Estate Development LLC v Reem Emirates Aluminium LLC
TCD 009/2020 Five Real Estate Development LLC v Reem Emirates Aluminium LLC
April 14, 2022  Technology and construction division - Orders
Claim No: TCD 009/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
FIVE REAL ESTATE DEVELOPMENT LLC
Claimant / Defendant to Counterclaim
and
REEM EMIRATES ALUMINIUM LLC
Defendant / Claimant to Counterclaim
ORDER OF JUSTICE LORD ANGUS GLENNIE
UPON
reviewing the Defendant’s Application No. TCD-009-2020/11 dated 30 November 2021, seeking the Claimant pay into the Court a sum of money as security for costs, pursuant to Section III of Part. 25 of the Rules of the DIFC Courts (
“RDC”
) and that the Claimant pay the Defendant costs on account in the sum of AED 96,617.25 (
“Application”
)
AND UPON
reviewing the Witness Statement of Athanasios Karvelis dated 30 November 2021 filed in support of the Application
AND UPON
reviewing the Claimant’s evidence in answer to the Application dated 28 December 2021
AND UPON
reading the relevant material in the case file
AND UPON
hearing Counsel for the Claimant and Counsel for the Defendant at a hearing on 13 April 2022
IT IS HEREBY ORDERED THAT:
1. The Claimant shall pay into Court within 14 days the amount of AED 1,210,000 on account of security for costs, pursuant to Section III of Pt. 25 of the RDC.
2. Within 14 days, the Claimant shall pay the Defendant the amount of AED 96,617.25, being a payment on account for 50% of the costs the Defendant will be claiming as part of the detailed cost assessment procedure to take place at the conclusion of these proceedings, arising from the orders of:
(a) Justice Sir Richard Field made 4 May 2021 and 22 August 2021; and
(b) Chief Justice Zaki Azmi made on 29 July 2021; and
3. The Claimant shall pay the Defendant’s costs of the Application assessed in the amount of AED 196,241.00 within 14 days.
Issued by:
Nour Hineidi
Registrar
Date of issue: 14 April 2022
At:12.20pm