![CL-2022-000048 - [2025] EWHC 1810 (Comm)](https://backend.juristeca.com/files/emisores/logo_WAai98v.png){kind=logo}
Heading
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
COMMERCIAL COURT
Royal Courts of Justice, Rolls Building
Fetter Lane, London, EC4A 1NL
Before :
MR JUSTICE CALVER
Between :
(1) COMMERCIAL BANK OF DUBAI PSC (2) HORTIN HOLDINGS LIMITED (3) WESTDENE INVESTMENT LIMITED (4) LODGE HILL LIMITED (5) VS 1897 (CAYMAN) LIMITED | Claimants |
- and - | |
(1) MR ABDALLA JUMA MAJID AL SARI (2) MR MAJID ABDALLA JUMA AL SARI (3) MR MOHAMED ABDALLA JUMA AL SARI (4) FAL OIL CO LLC (5) INVESTMENT GROUP PRIVATE LIMITED (6) IGPL GENERAL TRADING LLC (7) GLOBE INVESTMENT HOLDINGS LIMITED (8) MENA INVESTMENT HOLDINGS LIMITED (9) MAS CAPITAL HOLDINGS LIMITED (10) MR HAMAD SAIF HAMAD ABDALLA ALMHEIRI | Defendants |
Andrew Trotter and Madelaine Clifford (instructed by Jones Day) for the Claimants
The Defendants did not attend and therefore were not represented
Hearing dates: 06 - 15 May 2025
JUDGMENT
- Heading
- This judgment was handed down by the Judge remotely by circulation to the parties' representatives by email and release to The National Archives. The date and time for hand-down is deemed to be 14:00
- A Memorandum of Understanding dated 13 April 2014 between the Al Sari Brothers, Globe, MAS and the BVI Companies (“ Globe MOU ”). Clause 2 of this document purports to record an agreement that MAS wou
- A loan agreement dated 14 April 2014 (“ the Globe Loan Agreement ”) by which the BVI Companies purported to declare their alleged debt to Globe of AED 550m with interest of 1% payable between April 20
- A settlement agreement dated 1 November 2018 between Globe and the BVI Companies (“ Globe Settlement Agreement ”) pursuant to which, having purportedly defaulted under the Globe Loan Agreement, the BV
- Most tellingly, the postcode is backdated. The postcode of the Bridge Properties, which appears in the Tenancy Agreement dated 16 January 2013, is SW11 8NP. However, this postcode was not ascribed to
- Conclusions