CFI 032/2014 The Dubai Financial Services Authority v ES Bankers (Dubai) Limited

February 29, 2016

• court of first instance - Orders
• Orders

Claim No. CFI 032/2014

THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

IN THE COURT OF FIRST INSTANCE 

IN THE MATTER OF THE DIFC REGULATORY LAW (NO. 1 OF 2004) 

IN THE MATTER OF THE DIFC INSOLVENCY LAW (NO. 3 OF 2009) 

BETWEEN 

THE DUBAI FINANCIAL SERVICES AUTHORITY

Claimant

and

ES BANKERS (DUBAI) LIMITED

Defendant

ORDER OF JUSTICE SIR DAVID STEEL

UPON reviewing Application Notice CFI-032-2014/20 dated 11 February 2016 and the supporting documents for remuneration and disbursements of the Joint Provisional Liquidators

AND UPON reading the submissions and evidence filed and recorded on the Court file

IT IS HEREBY ORDERED THAT:

1. The Joint Liquidators’ remuneration for the period 19 April 2015 to 18 October 2015 (the second six months of the liquidation) be fixed in the sum of USD 2,582,778.
2. The Joint Liquidators be permitted to draw disbursements up to but not exceeding GBP 30,000 per month out of the liquidation estate until 31 December 2016, with liberty to apply if necessary for the continuance or variation of the order pursuant to paragraph 2 thereafter.
3. Further or other relief with liberty to apply.
4. The costs of and occasioned by this application be costs in the liquidation.

Issued by

Natasha Bakirci

Assistant Registrar

Date of Issue: 29 February 2016

At: 4pm