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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

March 1, 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 Claimant having commenced International Chamber of Commerce (“ICC”)  arbitration proceedings registered under ICC reference 21435/ZF against the First to Eighth Defendants in connection with the same or predominantly the same claims and issues as in case number CFI-014-2015 (“the ICC Arbitration”)

AND UPON the First Defendant having agreed to accept the jurisdiction of the ICC and any arbitral tribunal constituted pursuant to the ICC rules to hear the ICC Arbitration

IT IS HEREBY ORDERED BY CONSENT THAT:

1. The proceedings between the Claimant and the First Defendant be stayed in favour of the ICC Arbitration until such time as an interim or final award has been made in the ICC Arbitration finally resolving the claims against the First Defendant pursuant to the ICC Rules whereupon the Claimant shall file and serve a notice of discontinuance in accordance with Part 34 of the Rules with no liability for costs under Part 34.15 or otherwise.

2. There be no order as to costs.

 

Issued by:

Natasha Bakirci

Assistant Registrar

Date of issue: 1 March 2016

At: 4pm

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