DIFC 008/2007

Ithmar Capital and 8 Investment INC v 8 Investment Group FZE

Summary

Upon hearing counsel for the claimant and counsel for the first defendant, and upon the court reading the documents recorded on the court file, it was ordered that there be judgment for the claimant in the amount of AED 1,974,800 plus interest at AED 115,142. The first defendant was to pay the claimant AED 2,089,942 by 4pm on 10th December 2008, and 50% of the claimant's costs of the claim were to be assessed on an indemnity basis if not agreed. The first defendant was to pay the claimant 75% of their costs of the application to, and the hearing before, the Court of Appeal (Case No. CA 1/2008). Such costs were to be assessed on the standard basis if not agreed. The counterclaim of the first defendant was to be dismissed.

Issued by Mark Beer , Registrar.