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Dubai Financial Services Authority v various Defendants [2017] DIFC CFI 001

Dubai Financial Services Authority v various Defendants [2017] DIFC CFI 001

May 6, 2007

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THE JUDICIAL AUTHORITY OF THE DUBAI INTERNATIONAL FINANCIAL CENTRE

IN THE COURT OF FIRST INSTANCE

In the name of Highness Sheikh Mohammad bin Rashid A1 Maktoum Ruler of Dubai, before the Honourable Sir Anthony Evans, Chief Justice, on the 1st of May 2007,

Between

THE DUBAI FINANCIAL SERVICES AUTHORITY (“DFSA”)

Claimant

–and–

1. 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


JUDGMENT


PENAL NOTICE

IF YOU AMEERDEEN ABDUL MAJID THANIKKODI, SYED MOHAMED A/L KABDUL RAHMAN, AI GLOBAL RESOURCES, EVERYONE’S INTERNET or SELECT SOLUTIONS LLC. DISOBEY THIS JUDGMENT YOU MAY BE HELD TO BE IN CONTEMPT OF COURT.

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

UPON the application of the Claimant with notice to the 3rd, 4th, 5th, 6th and 8th Defendants,

AND UPON the 3rd, 4th, 5th, 6th and 8th Defendants not appearing,

AND UPON Counsel for the Claimant informing the Court that the facts stated in Claimant’s document “Exhibit 1” are correct and in particular that no response has been received from the 3rd, 4th, 5th, 6th and 8th Defendants,

AND UPON the 3rd, 4th, 5th, 6th and 8th Defendants having not filed any Acknowledgement of Service or Defence in the Courts and the time for filing these documents having now lapsed,

IT IS ORDERED that

1. The Claimant’s application to abridge time for service of the Application Notice for Default Judgment against the 3rd, 4th and 5th defendants to two (2) clear days is granted;

2. By Default, against the 3rd, 4th and 5th Defendants

(a) The 3rd, 4th and 5th Defendants are permanently restrained 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) The 3rd, 4th and 5th Defendants are permanently restrained from holding out directly or indirectly (whether by themselves or by instructing or encouraging any other person) in the DIFC or elsewhere that any DFSA Authorised firms are members of the Dubai Options Exchange;

(c) The 3rd, 4th and 5th Defendants are permanently restrained 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) The 3rd, 4th and 5th Defendants are permanently restrained from targeting, soliciting or collecting funds from members of the public in the DIFC or elsewhere to invest in the Dubai Options Exchange;

 

(e) The 3rd, 4th and 5th Defendants are permanently restrained from hosting or otherwise operating, directly or indirectly, or assisting in the operation of the websites for the Dubai Options Exchange (www.dubaiex.com or any variation thereof), Cambridge Capital Trading (www.cambridgecapitaltrading.com or any variation thereof) or the United Arab Emirates Commodities Futures Board (www.uaecfb.com or any variation thereof) within the DIFC or elsewhere;
3. By Default against the 6th DefendantThe 6th defendant is permanently restricted from hosting or otherwise operating the Dubai Options Exchange website (www.dubaiex.com or any variation thereof) within the DIFC or elsewhere;
4. By Default against the 8th DefendantThe 8th defendant is permanently restricted from hosting or otherwise operating the United Arab Emirates Commodities Futures Board (www.uaecfb.com or any variation thereof) within the DIFC or elsewhere.

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

6. There is no order as to the costs of this application.

DATED this 1st day of May 2007

(signed)
Sir Anthony Evans
Chief Justice, DIFC Courts
Date of Issue: 6th May 2007

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