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CFI 079/2018 Fimbank P.L.C T/A Fimbank Plc (DIFC Branch) v Aos Trading DMCC

CFI 079/2018 Fimbank P.L.C T/A Fimbank Plc (DIFC Branch) v Aos Trading DMCC

March 4, 2019

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Claim No. CFI-079-2018

IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

IN THE COURT OF FIRST INSTANCE

BETWEEN:

FIMBANK P.L.C T/A FIMBANK PLC (DIFC BRANCH)

Claimant

and

 

AOS TRADING DMCC

                                                                                                                                    Defendant


AMENDED JUDGMENT OF H.E JUSTICE ALI AL MADHANI


UPON reviewing the Claimant’s Claim dated 22 November 2018 seeking judgment in the amount of USD 20,282,763.71 plus continuing interest at the default contractual rate from 20 November 2018 to the date of judgment

UPON hearing Counsel for the Claimant at a Hearing on 25 February 2019

UPON review of the documents included in the Court file

UPON the Court being satisfied that the proceedings have been validly served and that the Defendant has failed to acknowledge service or to otherwise appear or engage in the proceedings

AND UPON the Court being satisfied that the requirements of Part 8 have been met and that this is an appropriate case in which to grant judgment under Part 8

IT IS HEREBY ORDERED THAT:

1.The Claimant’s claim for judgment against the Defendant in the amount of USD 20,282,763.71 plus continuing interest at the default contractual rate from 20 November 2018 to the date of this order, in the amount of USD 444,819.10, is hereby granted.

2. The Claimant shall recover from the Defendant the Court fee of USD 5,000 as part of the Judgment Sum.

3. Accordingly there shall be judgment for the Claimant in the sum of USD 20,732,582.81 (the “Judgment Sum”)

4. The Defendant shall pay the Claimant interest on the Judgment Sum at the rate of 9% per annum from the date of this order until payment is received.

5. The Defendant shall pay the Claimant’s costs of the proceedings on the standard basis to be assessed by the Registrar if not agreed between the parties.

Issued by:

Ayesha Bin Kalban

Assistant Registrar

Date of issue: 28 February 2019

Date of re-issue: 4 March 2019

Time: 1pm

 

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