DIFC 013, 015/2021
IGPL General Trading LLC v (1) Hortin Holdings Limited (2) Lodge Hill Limited (3) Westdene Investment Limited
Type
Case
Court
Dubai International Financial Centre - Court of Appeal
Jurisdiction
Dubai International Financial Centre, British Virgin Islands
Taxonomy
Directors, Companies & Corporate Bodies, General Insolvency Law, Leases & Tenancy Agreements
Decision date
23 Mar 2022
Panel
Chief Justince Zaki Azmi, HE Justice Ali Al Madhani and Justice Robert French
Catchwords
Beneficial Shareholders - Agency - Immediate Judgment - Power of Attorney - Ratification - Directors
This case involved an order for specific performance of an assured shorthold tenancy agreement. The property was held in leases by a company in the BVI. A UAE bank had obtained a judgment over property of individuals, including shares in the company. An insolvency practitioner requested these. It was stated this was not possible because of the tenancy agreement. A key question was whether the single signatory of the tenancy agreement had been able to sign it. It was argued he had authorisation of the beneficial shareholders but he had not had authorisation from the directors of the BVI company.