DIFC 030/2022, [2022] DIFC CFI 030
Mad Atelier International B.V. v (1) Axel Manes (2) Catherine Zhilla
Type
Case
Court
Dubai International Financial Centre - Court of First Instance
Jurisdiction
Dubai International Financial Centre, Dubai, England, France, Belgium
Taxonomy
Lending & Security, Guarantees, Receivership & Administrative Receivership, Share Schemes, Litigation Procedure & Practice, Divorce
Decision date
10 Feb 2023
Panel
Justice Sir Jeremy Cooke
Catchwords
Restaurant Chain - Loan Default - Shares - Beneficial Owner - Freezing Order - Receivership - Guarantee - Divorce
This case involved the default on loans related to an international restaurant chain which had a company/restaurant in the DIFC. The English courts had issued a worldwide freezing order and there had been enforcement proceedings and proceedings to appoint a receiver in the DIFC courts. Issues included who was the beneficial owner of the DIFC company from its incorporation. A Dubai Court rulling had also order ownership of the DIFC company shares to be transferred to the former wife and children of the believed beneficial in divorce proceedings.
Background
The history of these proceedings was linked to proceedings which have taken place in France, the UK and onshore Dubai and were currently taking place in Belgium.