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CFI 001/2007 – Order

CFI 001/2007 – Order

February 14, 2007

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THE JUDICIAL AUTHORITY OF THE DUBAI INTERNATIONAL FINANCIAL CENTRE

IN THE COURT OF FIRST INSTANCE

Between

The Dubai Financial Services Authority (“DFSA”) Claimant
and1. HUSAM A. ABU-AMARA
2. GLOBALSTAR TELECOM & TECHNOLOGY
3. AMEERDEEN ABDUL MAJID THANIKKODI
4. SYED MOHAMED A/L KABDUL RAHMAN
5. AI GLOBAL RESOURCES
6. EVERYONE’S INTERNET
7. TIME TELECOMMUNICATIONS and
8. SELECT SOLUTIONS LLC.
Defendants

ORDER

PENAL NOTICE

IF YOU HUSAM A. ABU-AMARA, GLOBALSTAR TELECOM & TECHNOLOGY, AMEERDEEN ABDUL MAJID THANIKKODI, SYED MOHAMED A/L KABDUL RAHMAN, AI GLOBAL RESOURCES, EVERYONE’S INTERNET, TIME TELECOMMUNICATIONS or SELECT SOLUTIONS LLC. DISOBEY THIS ORDER YOU MAY BE HELD TO BE IN CONTEMPT OF COURT.

ANY OTHER PERSON WHO KNOWS OF THIS ORDER AND DOES ANYTHING WHICH HELPS OR PERMITS THE RESPONDENTS TO BREACH THE TERMS OF THIS ORDER MAY ALSO BE HELD TO BE IN CONTEMPT OF COURT.

UPON the application of the Dubai Financial Services Authority (“DFSA”) without notice to the Respondents on the 14th of February 2006

AND UPON undertakings given on behalf of the DFSA forthwith:

(i) To file further affidavits or alternatively to produce drafts affidavits for consideration by the Court relating to their most recent communications received from:

(a) The Malaysian Securities Commission;
(b) The Dubai Police; and
(c) The Financial Services Authority of the United Kingdom, relating to this application;

 

(ii) To issue a claim form seeking substantive relief in the terms of the present application;

 

(iii) To request each of the Defendants to accept service of the claim form and this Order, together with materials placed before the Court in support of the application; failing agreement as to service to undertake to make such application to the Court with regards to service or to dispense with service as they may be advised to make

AND UPON the Court having been referred to Article 47 of the DIFC Courts Law (DIFC Law No. 10 of 2004) which exempts the DFSA from being required to give any undertaking as to damaged in respect of either application,

The Court of First Instance of the Dubai International Financial Centre (“DIFC”) sitting at Ground Floor, Building 4, Gate District, Dubai, United Arab Emirates, hereby grants the following orders:

1.

(a) Against the 1st to 5th Defendants, an order restraining them from holding out directly or indirectly (whether by themselves or by instructing or encouraging any other person) in the DIFC or elsewhere that the Dubai Options Exchange exists within the DIFC or is located within the DIFC;
(b) Against the 1st to 5th Defendants, an order restraining them from holding out directly or indirectly (whether by themselves or by instructing or encouraging any other person) in the DIFC or elsewhere that any Authorised DFSA firms are members of the Dubai Options Exchange;
(c) Against the 1st to 5th Defendants, an order restraining them from holding out directly or indirectly (whether by themselves or by instructing or encouraging any other person) in the DIFC or elsewhere that the United Arab Emirates Commodities Futures Board exists within the DIFC or is located within the DIFC;
(d) Against the 1st to 5th Defendants, an order restraining them from targeting, soliciting or collecting funds from members of the public in the DIFC or elsewhere to invest in the Dubai Options Exchange;
(e) Against the 1st to 5th Defendants, an order prohibiting the further operation of the websites www.dubaiex.com; www.uaecfb.com; and www.cambridgecapitaltrading.com, within the DIFC or elsewhere;
(f) Against the 6th Defendant, an order restraining them from hosting or otherwise operating the website www.dubaiex.com;
(g) Against the 7th Defendant, an order restraining them from hosting or otherwise operating the website www.cambridgecapitaltrading.com;
(h) Against the 8th Defendant, an order restraining them from hosting or otherwise operating the website www.uaecfb.com.

 

2. Such orders shall have effect until the hearing of the Claimants’ application after notice to the Respondents, subject to any further order made by the Court pursuant to paragraph 4 hereof.

 

3. The return date for the hearing of this application on notice to the Respondents shall be Tuesday, 27th February 2007 at 11 am.

 

4. All parties have liberty to apply to vary or rescind this order on not less than 24 hours’ notice in writing (including by email) to all parties.

 

5. In the absence of voluntary compliance, this Order shall have no effect outside the UAE until declared enforceable by or until enforced by a court of competent jurisdiction in the country or state where the defendant is situated.

 

6. The costs of this application are reserved.

 

Sunita Johar
Acting Registrar
Date of Issue: 14th February 2007

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