Arbitral Digest

Matter

Neven v Nole (DIFC Court of First Instance ARB 010/2024)

Seat
United Arab Emirates
Applicable rules
Rules of the Dubai International Arbitration Centre
  1. 7 June 2024United Arab Emirates

    7 June 2024United Arab Emirates

    Order of the Dubai International Financial Centre Courts, Court of First Instance in Claim No. ARB 010/2024 dated 7 June 2024

    Dubai International Financial Centre Courts, Court of First Instance

    Decision summary
    The Court refused the applications for an injunction restraining dividend payments and for production of information and documents concerning corporate transactions. It accepted the Defendant's undertaking not to declare, pay, or distribute dividends until 31 December 2024, ordered the Defendant to execute and file that undertaking, and reserved costs.

    Supporting details

    3 participants
    Neven
    Nole
    Dubai International Financial Centre Courts, Court of First Instance

    18 days later · 18 days

  2. 25 June 2024United Arab Emirates

    25 June 2024United Arab Emirates

    Reasons for the Order of the Dubai International Financial Centre Courts, Court of First Instance in Claim No. ARB 010/2024 dated 7 June 2024

    Dubai International Financial Centre Courts, Court of First Instance

    Decision summary
    The Court held that the claimed corporate transactions did not provide credible grounds for a freezing order and that the application lacked the urgency required for court intervention before an arbitral tribunal could act. It refused the dividends injunction and disclosure order, concluding that the Claimant had not justified bypassing the agreed arbitral process.

    Supporting details

    10 authorities · 4 participants
    Neven
    Nole
    Dubai International Financial Centre Courts, Court of First Instance
    Other
    Witness
    Nargis

    Authorities cited

    10
    • Decree 34 of 2021
      statute
    • DIFC Arbitration Law
      statute
    • Rules of the Dubai International Financial Centre Courts of 2014
      court rules
    • DIAC Rules (Rules of the Dubai International Arbitration Centre)
      arbitration rules
    • LXT Real Estate Broker LLC v SIR Real Estate LLC [2023] DIFC CFI 050
      case
    • Ithmar Capital Ltd v 8 Investment FZE [2008] DIFC CA 001 (17 March 2008)
      case
    • Bocimar v ETA [2015] DIFC CFI 008 (31 January 2016)
      case
    • JSC Mezhdunarodniy Promyshlenniy Bank v Pugachev [2015] EWCA Civ 139; [2016] 1 WLR 160
      case
    • Pearl Petroleum Co Ltd v KRG [2017] DIFC ARB 003 (20 August 2017)
      case
    • American Cyanamid
      case

Matter record

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Neven v Nole (DIFC Court of First Instance ARB 010/2024) · Matter