Al Tamimi & Co successful in AED1.9b Immediate Judgment application
DIFC Court has granted Immediate Judgment to a syndicate of nine banks following the failure by the borrower and eight guarantors to re-pay AED1.9 billion syndicated conventional and Islamic facilities (and other failures).
Al Tamimi & Company was instructed by the syndicate and in succeeding at this early procedural stage, the banks have avoided very significant costs and lengthy preparations required for a multi-day trial, including disclosure and further witness evidence. The banks have potentially been saved from years of litigation.
Al Tamimi & Company team weas led by partner, head of international litigation group Rita Jaballah (pictured), working alongside senior counsels Jonathan Brooks and Peter Wood.