DIFC 043/2014

DNB Bank ASA v Gulf Eyadah Yadah Corporation (1); Gulf Navigation Holding Pjsc-7

Summary

The defendant's application seeking a stay of the proceedings pending consideration of the conflict between provisions of the UAE Federal Law and DIFC/Dubai legislation by the Union Supreme Court, is dismissed. The defendants raised no credible argument to justify staying the proceedings and referring the matter to the USC. The arguments raised by the defendants relating to jurisdictional issues and constitutionality have already been rejected by the DIFC courts in previous cases, namely, Fiske (1) Firmin (2) v Firuzeh (Arb 001/2014) and the DNB appeal court's decision itself.

Issued by Natasha Bakirci , Assistant Registrar.