CFI 090/2022 Bank Of Singapore Limited v (1) Marj Holding Limited (2) Mohammed Ahmad Ramadhan Juma

January 03, 2024 COURT OF FIRST INSTANCE - ORDERS

Claim No: CFI 090/2022

IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

IN THE COURT OF FIRST INSTANCE

BETWEEN

BANK OF SINGAPORE LIMITED

Claimant

and

(1) MARJ HOLDING LIMITED
(2) MOHAMMED AHMAD RAMADHAN JUMA

Defendants

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ORDER WITH REASONS OF JUSTICE RENE LE MIERE

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UPON the Judgment dated 20 November 2023

AND UPON reviewing the parties’ costs submissions dated 28 November 2023

IT IS HEREBY ORDERED THAT:

1. The Defendants jointly and severally pay the Claimant’s costs of the Immediate Judgment Application to be assessed by a detailed assessment of the costs by the Registrar if not agreed.

2. The Defendants jointly and severally pay the Claimant’s costs of the Case except the extra costs caused by the misrepresentation claim to be assessed by a detailed assessment of the costs by the Registrar if not agreed.

3. The Defendants pay the Claimant the sum of AED 500,000 by way of an interim payment on account, within 14 days of the date of this Order.

Issued by:
Hayley Norton
Assistant Registrar
Date of issue: 3 January 2024
At: 3pm

SCHEDULE OF REASONS FOR COSTS ORDERS

Summary

1. By a Claim Form issued on 14 December 2022 the Claimant claimed:

(a) USD 50,638,097.72; alternatively damages as against the First and Second Defendants;

(b) Damages for misrepresentation as against the First Defendant;

(c) Interest at a rate of 5% above the Interest Rate pursuant to clause B(9) of the CTF Agreement on all amounts outstanding under the same; and

(d) Costs.

(“the Remedies”)

2. In its Particulars of Claim filed with its Claim Form, the Claimant pleaded two causes of action. The first is a claim that the Defendants were indebted to it in the amount claimed under the agreement between the Claimant and the First Defendant and a guarantee given by the Second Defendant (the “debt claim”). The second is a claim for damages for misrepresentation by the First Defendant (the “misrepresentation claim”).

3. By Application Notice CFI-090-2022/2 dated 21 June 2023 the Claimant sought immediate judgment against the Defendants on the debt claim (the “Immediate Judgment Application”).

4. After hearing Counsel for the Claimant and Counsel for the Defendants in a hearing before me on 12 October 2023 and receiving further submissions from the Claimant on 19 October, 27 October, 10 November, and 17 November 2023 and from the Defendants on 19 October, 27 October, 14 November, and 17 November, I ordered on 20 November 2023 that the Immediate Judgment Application be granted, and judgment be entered in favour of the Claimant against each of the Defendants in the sum of USD 55,884,582.50.

5. I further ordered the parties to file and serve a minute of the orders in relation to costs which they submit are appropriate together with submissions. On 28 November 2023 the Claimant filed a draft order in relation to costs together with submissions in support of its proposed order and the Defendants filed submissions in opposition to the draft orders proposed by the Claimant.

6. I will refer to the costs of the whole of the proceeding by which the Claimant seeks the Remedies as the costs of the Case.

7. The Claimant seeks orders that the Defendants jointly and severally pay the Claimant’s costs of the Case and of the Immediate Judgment Application on an indemnity basis, pay its lawyers, Al Tamimi & Co, (on behalf of the Claimant) the sum of AED 717,108 by way of an interim payment on account, and the Claimant’s co