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

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

August 20, 2015


Claim No: CFI 014/2010










First Defendant / Judgment Creditor


Second Defendant / Judgment Debtor


UPON the debt owed by the Judgment Debtor to the Judgment Creditor pursuant to the following judgments and orders of the Court:

(i) Judgment of Justice Sir David Steel of 19 February 2014

(ii) Judgment and order of Justice Sir David Steel of 23 March 2015

(iii) Order of Registrar Beer dated 2 July 2015

(the “Judgment Debt”)

AND UPON the Judgment Creditor’s examination of Mr Hawary Marshad pursuant to Part 50 of the Rules of the DIFC Courts (the “examination”)

AND UPON considering the correspondence between the parties

AND UPON the Judgment Creditor’s application for production by the Judgment Debtor of any and all documents in the Judgment Debtor’s possession in relation to the Judgment Debtor’s investment in (i) Solidere International Al Zorah Equity Investments and (ii) Al Zorah Development (Private Company) PSC (the “Requested Documents”)

AND UPON hearing counsel for the Judgment Creditor and counsel for the Judgment Debtor


1. The Judgment Debtor shall disclose the Requested Documents to the Judgment Creditor by 7pm UAE time on 27 August 2015.

2. The Judgment Debtor shall be entitled to redact any board minutes or any resolutions of its board or shareholders to the extent that information contained within those documents is irrelevant or subject to legal professional privilege.

3. The Requested Documents shall not be provided to the Court, nor entered onto the court record.

4. The Requested Documents shall only be seen by the following parties:

(a) the Judgment Debtor’s legal advisors (namely the team representing NBC at Brown Rudnick); and

(b) those members of the Judgment Debtor’s in-house legal team that are dealing with the Part 50 process.

5. The documents shall be provided to the team representing the Judgment Debtor at Brown Rudnick in electronic and hard copy formats, and they shall be entitled to provide the Requested Documents to the persons listed at 3b above.

6. The parties listed in 3 above:

(a) shall not disclose the content of the Requested Documents (whether orally or otherwise) to any persons other than persons belonging to a party listed in paragraph 3, above; and

(b) shall be entitled to make hard copies of the Requested Documents for their individual use, but shall not be entitled to provide hard copies to any persons other than the persons belonging to a party listed in paragraph 3.

7. There shall be liberty to apply and, in particular, if the Judgment Creditor wishes to make use of the Requested Documents and show them to parties other than those listed at 3 above, for the purposes of enforcing the Judgment Debt and any future orders in favour of the Judgment Creditor, it shall be required to apply for, and obtain, the permission of the Court before doing so.

8. The Judgment Debtor shall pay the Judgment Creditor’s costs of the examination on the standard basis to be assessed if not agreed.


Issued by:

Natasha Bakirci

Assistant Registrar

Date of issue: 20 August 2015

At: 12pm


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