DIFC 013/2019
Hexagon Holdings (Cayman) Limited v (1) Dubai International Financial Centre Authority (2) Dubai International Financial Centre Investments LLC
This case involved a request to strike out the particulars of claim and grant an immediate judgment. The initial dispute had involved a joint venture. A key issue was whether the contract had been terminated or if it had been affirmed despite a breach.
Background
This was an application by the Defendants for the Claimant's Claim and Particulars of Claim to be struck out on the basis neither disclosed reasonable grounds for bringing the claim or, for immediate judgment in their favour on the basis that, the Claim had no real prospect of success and there was no other compelling reason why it should be disposed of at trial and together with the Strike-Out Application.
The Claimant, Hexagon Holdings (Cayman) Limited was a company incorporated in the Cayman Islands solely for the purpose of facilitating investment into a project which was the subject of this dispute. The shareholders of Hexagon were Ruby Limited which had 75% and the Gate Limited which had 25%.