CA 003/2015 (1) Rafed Abdel Mohsen Bader Al Khorafi (2) Amrah Ali Abdel Latif Al Hamad (3) Alia Mohamed Sulaiman Al Rifai v (1) Bank Sarasin-Alpen (ME) Limited (2) Bank Sarasin & Co. Ltd

Claim No: CA-003-2015

THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

 

IN THE COURT OF APPEAL

BETWEEN

(1) RAFED ABDEL MOHSEN BADER AL KHORAFI

(2) AMRAH ALI ABDEL LATIF AL HAMAD

(3) ALIA MOHAMED SULAIMAN AL RIFAI

                                                                                                  Claimants/Respondents

and

(1) BANK SARASIN-ALPEN (ME) LIMITED

(2) BANK SARASIN & CO. LTD

Defendants/Appellants


   ORDER OF THE COURT OF APPEAL


UPON the Judgment of the Court of Appeal dated 3 March 2016

AND UPON reviewing the parties’ submissions on costs dated 17 March 2016

IT IS HEREBY ORDERED THAT:

1.The Respondents are entitled to recover their costs of the appeal, the amount of which is to be assessed by the Registrar on a standard basis, if not agreed.

2. The Appellants shall be jointly and severally liable for 80% of Respondents’ costs of the appeal.

3. The Second Appellant shall be liable for the 20% balance of the Respondents’ costs.

4. Interest at 3 month EIBOR + 1% is recoverable on the costs, as assessed or agreed from 30 April 2016.

5. Both Appellants shall be jointly and severally liable for a payment on account of costs in the sum of USD 450,000, payable by 30 April 2016.

 

Issued by:

Maha Almehairi

Judicial Officer

Date of issue: 12 April 2015

Time: 4pm