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DIFC INVESTMENTS v DUBAI ISLAMIC BANK [2021] DIFC CFI 016 — Enforcement of performance guarantees (25 March 2021)
The dispute centers on the enforcement of financial obligations owed by Dubai Islamic Bank to DIFC Investments Limited. The claimant sought judicial intervention to recover a substantial debt, which culminated in the Court of First Instance reviewing the claim form, witness statements, and the…
DIFC INVESTMENTS v DUBAI ISLAMIC BANK [2020] DIFC CFI 016 — Termination of enforcement and appellate litigation by consent (19 August 2020)
This consent order marks the final resolution of a series of enforcement applications and a concurrent appeal, effectively closing the procedural chapter between DIFC Investments and Dubai Islamic Bank.
DIFC INVESTMENTS v DUBAI ISLAMIC BANK [2020] DIFC CFI 016 — Denial of permission to appeal enforcement of performance guarantee (16 August 2020)
The DIFC Court of First Instance confirms that foreign precautionary attachment orders cannot obstruct the enforcement of irrevocable, on-demand performance guarantees within the DIFC jurisdiction.
DIFC INVESTMENTS v DUBAI ISLAMIC BANK [2020] DIFC CFI 016 — Default costs assessment following failure to file points of dispute (29 June 2020)
The dispute concerns the recovery of legal costs following earlier proceedings in the Court of First Instance. After the Claimant, DIFC Investments, initiated the assessment process by filing a Notice of Commencement of Assessment on 5 May 2020, the Respondent, Dubai Islamic Bank, failed to respond…
DIFC INVESTMENTS v DUBAI ISLAMIC BANK [2020] DIFC CFI 016 — Enforcement of performance guarantees (03 June 2020)
The DIFC Court of First Instance affirms the "status equivalent to cash" doctrine, ruling that an on-demand performance guarantee constitutes an independent, irrevocable obligation that cannot be defeated by external precautionary attachment orders.
DIFC INVESTMENTS v DUBAI ISLAMIC BANK [2020] DIFC CFI 016 — Payment on account of costs (19 May 2020)
The dispute centered on the recovery of legal costs incurred by DIFC Investments Ltd following the underlying proceedings against Dubai Islamic Bank. On 5 May 2020, the Applicant filed a Notice of Commencement of Assessment, submitting a Bill of Costs totaling AED 680,565.
DIFC Investments v Dubai Islamic Bank [2020] DIFC CFI 016 — Interim payment of costs on account (17 May 2020)
The dispute centers on the recovery of legal costs incurred by the Claimant, DIFC Investments, following the underlying proceedings against the Respondent, Dubai Islamic Bank. On 5 May 2020, the Applicant initiated the formal assessment process by filing a Notice of Commencement of Assessment.
DIFC INVESTMENTS v DUBAI ISLAMIC BANK [2020] DIFC CFI 016 — Denial of stay on costs assessment pending appeal (14 May 2020)
The litigation between DIFC Investments and Dubai Islamic Bank, registered under case number CFI 016/2020, reached a procedural impasse regarding the timing of cost recovery. Following the initial stages of the dispute, the Claimant, DIFC Investments, initiated detailed costs assessment proceedings…