Arbitral Digest

Matter

Gauge Investments Limited v Ganelle Capital Limited (DIFC Courts Claim Nos. ARB 003/2016 and ARB 006/2016)

Case no.
ARB-006-2016
Applicable rules
DIFC-LCIA Arbitration Centre Rules
  1. 30 January 2016Arbitration

    30 January 2016Arbitration

    DIFC-LCIA Final Award dated 30 January 2016

    DIFC-LCIA Arbitration Centre

    Decision summary
    The sole arbitrator rejected Gauge's defences and counterclaim, upheld Ganelle's claim for the balance of the Debt Advisory Fee, and ordered Gauge to pay AED 6,469,106 plus interest, AED 1,356,825.53 in legal costs, and AED 179,650 in arbitration costs. Ganelle's claim for an option to purchase apartments was rejected as waived.

    Supporting details

    5 participants
    Gauge Investments Limited
    Representative
    Mr Richard Hill QC (For: Gauge Investments Limited)
    Representative
    Baker & McKenzie Habib Al Mulla (For: Gauge Investments Limited)
    Ganelle Capital Limited
    DIFC-LCIA Arbitration Centre
    Arbitrator
    Mr Gaylord

    4 months and 9 days later · 130 days

  2. 8 June 2016United Arab Emirates

    8 June 2016United Arab Emirates

    Judgment of the Dubai International Financial Centre Courts, Court of First Instance in Claim Nos. ARB 003/2016 and ARB 006/2016 dated 8 June 2016

    Dubai International Financial Centre Courts, Court of First Instance

    Case no.
    ARB 003/2016 and ARB 006/2016
    Decision summary
    The DIFC Court of First Instance dismissed Gauge Investments Limited's application to set aside the 30 January 2016 DIFC-LCIA award, holding that the civil claims based on alleged DFSA regulatory breaches were arbitrable and that the award did not conflict with UAE public policy. The court recognised and ordered enforcement of the award in favour of Ganelle Capital Limited.

    Supporting details

    17 authorities · 5 participants
    Gauge Investments Limited
    Representative
    Dr Hamish Lal (For: Gauge Investments Limited)
    Ganelle Capital Limited
    Representative
    Mr Scott Geary (For: Ganelle Capital Limited)
    Dubai International Financial Centre Courts, Court of First Instance

    Authorities cited

    17
    • DIFC Regulatory Law (DIFC Law No. 1 of 2004) (DIFC Law No. 1 of 2004)
      statute
    • DIFC Law of Obligations
      statute
    • DIFC Arbitration Law (DIFC Law No. 1 of 2008)
      statute
    • Law of Civil Transactions, Federal Law No. 5 of 1985 (Federal Law No. 5 of 1985)
      statute
    • DFSA Rulebook — Conduct of Business
      regulation
    • DFSA Rulebook — Anti Money Laundering
      regulation
    • DFSA Rulebook — General Module
      regulation
    • Larsen Oil and Gas Pte Ltd v Petroprod Ltd ([2011] SGCA 21)
      case law
    • Fulham Football Club (1987) Limited v Sir David Richards and The Football Association Premier League Limited ([2011] EWCA Civ 855)
      case law
    • Assaubayev v Michael Wilson Partners Ltd ([2014] EWCA Civ 1491)
      case law
    • Salford Estates (No:2) Ltd v Altomart Ltd ([2014] EWCA Civ 1575)
      case law
    • Khorafi et al v Bank Sarasin-Alpen (ME) Ltd and Bank J Safra Sarasin Ltd (CFI 026/2009 and CA 003/2015)
      case law
    • Wealands v ICLC Contractors Ltd ([1999] 2 Lloyd's Rep 739)
      case law
    • Abu Dhabi Court of Cassation Case No. 663 of 2012 (Case No. 663 of 2012)
      case law
    • Investment Group Private Limited v Standard Chartered Bank (CA 004/2015)
      case law
    • UK Arbitration Act 1996
      statute
    • UK Companies Act 2006
      statute

Matter record

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Gauge Investments Limited v Ganelle Capital Limited (DIFC Courts Claim Nos. ARB 003/2016 and ARB 006/2016) · Matter