Skip to Content

CFI 012/2009 – Order

CFI 012/2009 – Order

June 11, 2009

image_pdfimage_print

Claim No: CFI 012/2009

IN THE JUDICIAL AUTHORITY OF THE DUBAI INTERNATIONAL FINANCE CENTRE

IN THE COURT OF FIRST INSTANCE

Between

FIVE RIVER PROPERTIES LLC First Applicant
andRENAISSANCE HOLDINGS AND DEVELOPERS FZE Second Applicant
andWATERFRONT PROPERTY INVESTMENT LIMITED First Respondent
andLINARUS FZE Second Respondent

ORDER OF DEPUTY CHIEF JUSTICE MICHAEL HWANG
MADE ON 11 JUNE 2009

Before the Honourable Deputy Chief Justice Michael Hwang on 26 May 2009

UPON the application of the Applicants Five River Properties LLC and Renaissance Holdings and Developers FZE made on 20 April 2009;

UPON reading the affidavits on the court file and reviewing the evidence and proceedings to date; and

UPON considering the oral and written submissions of Counsel for the Applicants and Counsel for the Respondents:

IT IS ORDERED THAT:

1. The Freezing Order made on 23 April 2009 (‘the Freezing Order’) be discharged with immediate effect.
2. The Applicants shall pay the First and Second Respondents’ costs in relation to the Freezing Order to be assessed if not agreed.
3. The Respondents shall have leave to bring an application for an inquiry into damages pursuant to Schedule B (1) of the Freezing Order.
4. The Applicants will immediately take all reasonable steps to inform in writing anyone to whom they have given notice of this Order, or who they have reasonable grounds for supposing may act upon this Order, that it has ceased to have effect.
5. This Order is stayed in order to give the Applicants time to file a formal application for leave to appeal and a stay pending appeal. (the ‘Stay Application’). The Stay Application must be filed by 15 June 2009, failing which this Order will come into effect on 16 June 2009. If the Stay Application is filed, this Order will be stayed until the hearing of the Stay Application and parties should file written submissions by 19 June 2009. The Court will decide any Stay Application filed on the basis of written submissions.

 

Mark Beer
Registrar
Date of Issue: 11 June 2009
At: 10am

X

Privacy Policy

The Dispute Resolution Authority and all its affiliates are committed to preserve the confidentiality, integrity and availability of client data and personal information.

Dispute Resolution Authority and all its affiliates employees, vendors, contract workers, shall follow Information Security Management System in all the processes and technology.

  1. DRA's Top Management is committed to secure information of all our interested parties.
  2. Information security controls the policies, processes, and measures that are implemented by DRA in order to mitigate risks to an acceptable level, and to maximize opportunities in order to achieve its information security objectives.
  3. DRA and all its affiliates shall adopt a systematic approach to risk assessment and risk treatment.
  4. DRA is committed to provide information security awareness among team members and evaluate the competency of all its employees.
  5. DRA and all its affiliates shall protect personal information held by them in all its form.
  6. DRA and all its affiliates shall comply with all regulatory, legal and contractual requirements.
  7. DRA and all its affiliates shall provide a comprehensive Business Continuity Plan encompassing the locations within the scope of the ISMS.
  8. Information shall be made available to authorised persons as and when required.
  9. DRA’s Top Management is committed towards continual improvement in information security in all our processes through regular review of our information security management system.