Representing a leading international brokerage house with a presence in the DIFC in highly contested proceedings against another global brokerage company in relation to breach of restrictive covenants and breach of confidence by an employee. Afridi & Angell successfully defended an anti-suit injunction, an application to exclude evidence and obtained a document production order, all of which set important precedents for litigation in the DIFC Court. This was the first “springboard injunction” proceedings before the DIFC Court.
Representing the claimant, a BVI registered company, in a multi-party dispute before the DIFC Courts. We were successful in helping our client recover amounts repayable pursuant to a loan agreement where approximately AED 5 million were advanced to the defendant borrowers and repayment was tied to an insurance claim to the amount of circa AED 40 million.
Successfully advising one of the leading smartphone vendors in a claim against a distributor and trader of mobile phone products in the Middle East concerning default of payment by the distributor for handsets and cases that our client provided for the MENA region. Our client and the defendant entered into a settlement agreement which was enforced in the DIFC Courts.
Representing a major developer in a case brought against it by apartment owners in a residential building in the DIFC for alleged late delivery of the apartment units.
Representing Deyaar Development in a claim brought against it by Taaleem before the DIFC courts in Taaleem PJSC (Taaleem) v (1) National Bonds Corporation PJSC (NBC) (2) Deyaar Development PJSC (Deyaar).
Advising a financial advisory boutique based in South Asia on setting up a Category 4 DFSA regulated entity.
Providing general employment advice to several entities as they set up their main and/or branch offices in the DIFC.
Acting for many of the asset managers active in the DIFC, as well as the DIFC investment banking subsidiaries of various international banking groups.
Providing regulatory and structural advice to the DIFC subsidiary of a local banking group in connection with the establishment of a Shari’a compliant USD55 million distressed-property fund.
Providing strata law advice and drafting documentation for an AED 3.2 billion iconic 80 storey, 328 meter mixed use tower development in the DIFC. The development comprises a variety of different residential, retail, commercial and office sections along with a sky lobby. This has led to the formation of bodies corporate in relation to a number of different levels of strata, making it one of the most complex strata developments in Dubai. All documents have been prepared and managed by Afridi & Angell.
Advising on the sale of a hotel in the DIFC for AED 1.1 billion. This transaction was the first of its kind in the DIFC and involved (a) acceptance by the DIFC of the first strata plan pursuant to the DIFC’s Strata Title Law for registration, establishing a scheme of easements and covenants governing the interaction between the hotel and the adjacent Limestone House and (b) the creation of the first body corporate under the DIFC’s Strata Title Law to manage the common property of the hotel and the adjacent Limestone House.