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CFI 014/2010 Taaleem P.J.S.C. v (1) National Bonds Corporation P.J.S.C. (2) Deyaar Development P.J.S.C.

CFI 014/2010 Taaleem P.J.S.C. v (1) National Bonds Corporation P.J.S.C. (2) Deyaar Development P.J.S.C.

May 13, 2015

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Claim No: CFI 014/2010

THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

 

IN THE COURT OF FIRST INSTANCE

BETWEEN

TAALEEM P.J.S.C.

Claimant

and

(1) NATIONAL BONDS CORPORATION P.J.S.C.

First Defendant / Judgment Creditor

(2) DEYAAR DEVELOPMENT P.J.S.C.

Second Defendant / Judgment Debtor


   ORDER OF JUSTICE SIR DAVID STEEL


 

NOTICE: YOU, HAWARY MARSHAD, MUST OBEY THIS ORDER. IF YOU DO NOT, YOU MAY BE FINED OR COMMITTED TO PRISON FOR CONTEMPT OF COURT

UPON reviewing the Judgment Creditor’s ex parte Application Notice CFI-014-2010/23 dated 1 May 2015 seeking an Order that Hawary Marshad, Chief Financial Officer of the Judgment Debtor (“Deyaar”), attend Court to provide information

IT IS HEREBY ORDERED THAT:

1. Deyaar shall disclose to the DIFC Courts and the Judgment Creditor within 14 days of being served with this Order the documents set out in Schedule A to this Order.

2. Mr Hawary Marshad shall attend the DIFC Courts at 10:30am on Sunday 3 June 2015. At that time, Mr Hawary Marshad shall answer on oath such questions as the Court may require.

 

Issued by:

Mark Beer

Registrar

Date of issue: 13 May 2015

At: 10am


SCHEDULE A

1. Documents relating to Deyaar’s interest in both (i) Arady Development LLC and (ii) Central Park, DIFC including, but not limited to, the following:

(a)  any joint venture and/or shareholder agreements between Dubai Properties Group and Deyaar;

(b)  any and all other contracts entered into between Arady Development LLC, Dubai Properties Group and Deyaar;

(c)  any certificates of title, contracts for sale or mortgage, deeds of trust, leases and any other registered or unregistered interests in respect of Central Park, DIFC;

(d) the Memorandum and Articles of Association of Arady Development LLC;

(e) bank statements of Arady Development LLC for the last 12 months;

(f) audited financial statements of Arady Development LLC since its incorporation;

(g) documents evidencing Deyaar’s interest in the Central Park development in the DIFC;

(h) documents evidencing debts owed to Deyaar by Arady Development LLC and/or Dubai Properties Group (including information as to whether any other parties have a claim to any such debts);

(i) documents evidencing all amounts paid to Deyaar by Arady Development LLC and/or Dubai Properties Group, including but not limited to dividends or equivalent.

2. Documents relating to Deyaar’s interest in Sky Gardens, DIFC:

(a) documents evidencing Deyaar’s registration of any interest in Sky Gardens in the DIFC Real Property Registry, the Dubai Land Department, RERA or any other real estate registration registry in the UAE;

(b) documents evidencing the location of any sale proceeds and/or rental receipts from Sky Gardens now owed to Deyaar being held by Amlak Finance PJSC (including full bank details);

(c) all correspondence between Deyaar and Amlak Finance PJSC in respect of the sale proceeds and/or rental receipts from Sky Gardens now owed to Deyaar;

(d) documents evidencing any monies owed to Deyaar in respect of Sky Gardens. In respect of each of the amounts owed, please provide (i) the debtor’s details (ii) the amount owed.

3. Documents relating to Deyaar (including its associates and subsidiaries) and evidencing:

(a) any and all cash and overdraft facilities held worldwide by Deyaar (including its associates and subsidiaries) in any and all banks or other financial institutions;

(b) the location and full details (including address of branch, account number, type) of all bank accounts held by Deyaar worldwide (including its associates and subsidiaries);

(c) bank statements for each account mentioned in paragraph 3(b) above, for the last 12 months;

(d) the details of any debts owed to Deyaar worldwide (including its associates and subsidiaries) by third parties and whether any other parties have a claim to any such debts;

(e) any and all assets, excluding real property, held worldwide by Deyaar (including its associates and subsidiaries) including a description, value and in the case of vehicles, registration numbers;

(f) any and all real property assets held worldwide by Deyaar (including its associates and subsidiaries) including documents confirming, in respect of each asset, (i) address (ii) current value (iii) any mortgage in place (and if so, full details of the amount borrowed/amount currently outstanding/date when borrowed/any charge or other security interest).

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