DIFC 241/2020
Libby v (1) Lennox (2) Lexi Group Limited
This case involved a default on a settlement agreement which had resulted because of non-payment of rent. The tenant's parent company was a guarantor of the lease and the settlement agreement.
Background
The Claimant was Libby the Landlord of a number of properties including Units within the DIFC.
The First Defendant Lennox was a public stock company incorporated in Sharjah, UAE and the Second Defendant was Lexi Group Limited a DIFC Registered Company.
The Claimant was the landlord, the Second Defendant, the Tenant, and the First Defendant, was the parent company guarantor, and they entered into a lease for some offices dated 10 July 2017.
On 28 August 2019, the Claimant and the First and Second Defendant entered into a Settlement Agreement under which the Second Defendant had an obligation to settle the lease amount in relation to the Units 123 and 234. The First Defendant was the parent company guarantor under the Settlement Agreement.