Matter
CESFIN VENTURES LLC and CESSNA FINANCE CORPORATION v AL GHAITH HOLDING COMPANY PJSC (DIFC Claim ARB-017-2020)
- 26 October 2015United States
26 October 2015United States
Arbitral Award issued 26 October 2015
- Decision summary
- The arbitral tribunal upheld Cessna Finance Corporation's claim against Al Ghaith Holding Company PJSC in the amount of USD 43,201,971.10, with ongoing interest.
Supporting details
2 participantsCESSNA FINANCE CORPORATION
AL GHAITH HOLDING COMPANY PJSC
4 years, 8 months and 27 days later · 1732 days
- 23 July 2020United Arab Emirates
23 July 2020United Arab Emirates
First Worldwide Freezing Order of the DIFC Courts dated 23 July 2020
DIFC Courts
- Decision summary
- The DIFC Courts issued a Worldwide Freezing Order against Al Ghaith Holding Company PJSC to restrain dissipation of assets in support of enforcement of the recognised New York arbitral award.
Supporting details
3 participantsCESFIN VENTURES LLC
CESSNA FINANCE CORPORATION
AL GHAITH HOLDING COMPANY PJSC
DIFC Courts
- 23 July 2020United Arab Emirates
23 July 2020United Arab Emirates
Order of the DIFC Courts recognising the New York arbitral award and entering judgment dated 23 July 2020
DIFC Courts
- Decision summary
- The DIFC Courts recognised the New York arbitral award and entered judgment against Al Ghaith Holding Company PJSC for the amount due under the award, which had reached approximately USD 88.6 million with interest by July 2020.
Supporting details
3 participantsCESFIN VENTURES LLC
CESSNA FINANCE CORPORATION
AL GHAITH HOLDING COMPANY PJSC
DIFC Courts
1 year, 8 months and 1 day later · 609 days
- 24 March 2022United Arab Emirates
24 March 2022United Arab Emirates
Order with Reasons of the DIFC Court of First Instance in Claims ARB-017-2020 and ARB-021-2021 dated 24 March 2022
DIFC Court of First Instance
- Decision summary
- The DIFC Court found beyond reasonable doubt that Al Ghaith Holding Company PJSC breached the First Worldwide Freezing Order by transferring AED 7 million to Six Star Representation of Companies LLC, allowed the contempt application against it, referred the contempt to the Attorney General of Dubai, and ordered costs. The order also adjourned Abu Dhabi Commercial Bank PJSC's joinder and contempt applications indefinitely by consent.
Supporting details
17 authorities · 12 participantsCESFIN VENTURES LLC
- Representative
- Rupert Reed QC (For: CESFIN VENTURES LLC · CESSNA FINANCE CORPORATION)
- Representative
- Gregor Hogan (For: CESFIN VENTURES LLC · CESSNA FINANCE CORPORATION)
- Representative
- DWF Middle East LLP (For: CESFIN VENTURES LLC · CESSNA FINANCE CORPORATION)
CESSNA FINANCE CORPORATION
- Representative
- Rupert Reed QC (For: CESFIN VENTURES LLC · CESSNA FINANCE CORPORATION)
- Representative
- Gregor Hogan (For: CESFIN VENTURES LLC · CESSNA FINANCE CORPORATION)
- Representative
- DWF Middle East LLP (For: CESFIN VENTURES LLC · CESSNA FINANCE CORPORATION)
AL GHAITH HOLDING COMPANY PJSC
- Representative
- David Russell QC (For: AL GHAITH HOLDING COMPANY PJSC)
- Representative
- Diana Hamade Attorneys At Law (For: AL GHAITH HOLDING COMPANY PJSC)
ABU DHABI COMMERCIAL BANK PJSC
- Representative
- Tom Stewart Coats (For: ABU DHABI COMMERCIAL BANK PJSC)
- Representative
- Holman Fenwick Willan Middle East LLP (For: ABU DHABI COMMERCIAL BANK PJSC)
DIFC Court of First Instance
- Judge
- Wayne Martin