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CFI 018/2010 Diwan Capital Limited (in liquidation) v Diwan Capital AG

CFI 018/2010 Diwan Capital Limited (in liquidation) v Diwan Capital AG

May 27, 2014

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Claim No: CFI 018/2010

THE JUDICIAL AUTHORITY OF THE DUBAI INTERNATIONAL FINANCIAL CENTRE

In the name of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Ruler of Dubai

IN THE COURT OF FIRST INSTANCE

BEFORE DEPUTY CHIEF JUSTICE SIR ANTHONY COLMAN

Between

DIWAN CAPITAL LIMITED(in liquidation) Appellant
andDIWAN CAPITAL AG Respondent

Summary of Judgment
OF DEPUTY CHIEF JUSTICE SIR ANTHONY COLMAN

The issue was whether following a resolution at an extraordinary general meeting resolving that a company shall be put into members’ voluntary liquidation and that the former CEO should for the time being be authorised to get in the assets of the company and discharge its liabilities prior to the appointment of a liquidator, the former CEO had effectively filed an appeal against a judgment in the Small Claims Tribunal in the absence of a liquidator.

Held: that it was open to the liquidator subsequently appointed to ratify the act of the former CEO in filing the appeal: Alexander Ward & Co v Samyang Navigation Co. Ltd. [1975] 1 WLR 673 applied.

Quaere: Whether, absent ratification, the former CEO could effectively be authorised to file the appeal, notwithstanding the liquidation resolution.

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