Emirates NBD Bank PJSC v Almakhawi & Anor [2023] EWHC 1113 (Comm) (12 May 2023)

Emirates NBD Bank PJSC v Almakhawi & Anor [2023] EWHC 1113 (Comm) (12 May 2023)

The Dubai judgment is enforceable at common law in England as there was no breach of natural justice; the mistaken reference in the expert reports to outdated law was a procedural irregularity, not a defect depriving the process of substantial justice. The transfers from Mr Almakhawi Sr to Mr Almakhawi Jr were not genuine gifts for succession planning but were made with the purpose of putting assets beyond the reach of creditors, thus relief is granted under section 423 of the Insolvency Act 1986.

Citation
[2023] EWHC 1113 (Comm)
Parties
Claimant: Emirates NBD Bank PJSC; First Defendant: Rashed Abdulaziz Almakhawi; Second Defendant: Abdulaziz Rashed Abdulaziz Mohammed Almakhawi
Jurisdiction
England and Wales
Judgment Date
12 May 2023
Procedural Posture
Commercial Enforcement and Insolvency / High Court Trial Judgment
Outcome
Judgment for the Claimant
Legal Topics
Enforcement of Foreign Judgments, Personal Guarantees, Fraudulent Transfers, Resulting Trusts, Natural Justice, Public Policy Exceptions
Commercial Law Conflict of Laws Insolvency Law Enforcement of Foreign Judgments Personal Guarantees Fraudulent Transfers Resulting Trusts Natural Justice +1 more

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Parties

Emirates NBD Bank PJSC

Claimant

Rashed Abdulaziz Almakhawi

First Defendant

Abdulaziz Rashed Abdulaziz Mohammed Almakhawi

Second Defendant

Procedural Posture

Commercial Enforcement and Insolvency / High Court Trial Judgment

Legal Issues

  1. 1 Whether the Dubai judgment is enforceable in England at common law given alleged breach of natural justice
  2. 2 Whether transfers of property and money from Mr Almakhawi Sr to Mr Almakhawi Jr are voidable as transactions defrauding creditors under section 423 Insolvency Act 1986 or held on resulting trust

Ratio Decidendi

The Dubai judgment is enforceable at common law in England as there was no breach of natural justice; the mistaken reference in the expert reports to outdated law was a procedural irregularity, not a defect depriving the process of substantial justice. The transfers from Mr Almakhawi Sr to Mr Almakhawi Jr were not genuine gifts for succession planning but were made with the purpose of putting assets beyond the reach of creditors, thus relief is granted under section 423 of the Insolvency Act 1986.

Court Disposition

Judgment for the Claimant

Orders

  • Dubai judgment enforced in England against Mr Almakhawi Sr
  • Declarations and relief under section 423 Insolvency Act 1986 in respect of the Warren House Property and money transfers to Mr Almakhawi Jr