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CFI 014/2015 Orient Insurance Pjsc v (1) ABN Amro Bank N.V. (2) Bank of Baroda (3) CITI Bank N.A. (4) Credit Suisse AG (5) Emirates NBD Bank Pjsc (6) Mashreq Bank Pjsc (7) Noor Islamic Bank Pjsc (8) Glints Global General Trading LLC

CFI 014/2015 Orient Insurance Pjsc v (1) ABN Amro Bank N.V. (2) Bank of Baroda (3) CITI Bank N.A. (4) Credit Suisse AG (5) Emirates NBD Bank Pjsc (6) Mashreq Bank Pjsc (7) Noor Islamic Bank Pjsc (8) Glints Global General Trading LLC

January 27, 2016

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Claim No: CFI-014-2015

IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

IN THE COURT OF FIRST INSTANCE

 

ORIENT INSURANCE PJSC

Claimant

and

(1) ABN AMRO BANK N.V.

(2) BANK OF BARODA

(3) CITI BANK N.A.

(4) CREDIT SUISSE AG

(5) EMIRATES NBD BANK PJSC

(6) MASHREQ BANK PJSC

(7) NOOR ISLAMIC BANK PJSC

(8) GLINTS GLOBAL GENERAL TRADING LLC

Defendants


CONSENT ORDER


UPON the Fifth Defendant having filed Application Notice CFI-014-2015/1 dated 4 October 2015 disputing the jurisdiction of the DIFC Courts

AND UPON the Claimant having commenced ICC arbitration proceedings registered under ICC reference 21435/ZF against the First to Eighth Defendants

IT IS HEREBY ORDERED BY CONSENT THAT:

1. The matters in these proceedings between the Claimant and Fifth Defendant are the subject of ICC arbitration.

2. The proceedings be stayed, pursuant to Article 13 of the DIFC Arbitration Law, in favour of ICC arbitration.

3. The Claimant shall pay the Fifth Defendant’s costs in the application in the sum of AED 275,000 within 28 days of the date of this Order.

 

Issued by:

Natasha Bakirci

Assistant Registrar

Date of issue: 27 January 2016

At: 4pm

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