Dubai Islamic Bank PJSC v PSI Energy Holding Company BSC & Ors

Dubai Islamic Bank PJSC v PSI Energy Holding Company BSC & Ors

The debt under the RSA is governed by English law, so UAE/Dubai law cannot discharge it by virtue of the Bank's appropriation of Plantation land; late amendments and expert evidence are inadmissible as they do not give rise to a defence with real prospect of success.

Parties
Claimant: Dubai Islamic Bank PJSC; First Defendant: PSI Energy Holding Company BSC; Second Defendant: Ryan Cornelius; Third Defendant: Charles Ridley; Fourth Defendant: Eren Nil; Fifth Defendant: CCH Europe GmbH
Jurisdiction
England and Wales
Judgment Date
23 October 2013
Procedural Posture
Commercial Debt Claim / Ruling on Applications to Amend Defences and Adduce Expert Evidence
Outcome
Applications refused
Legal Topics
Guarantee and Indemnity, Security Interests, Foreign Law, Late Amendments, Equity of Redemption
Contract Law Banking Law Conflict of Laws Guarantee and Indemnity Security Interests Foreign Law Late Amendments Equity of Redemption

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Parties

Dubai Islamic Bank PJSC

Claimant

PSI Energy Holding Company BSC

First Defendant

Ryan Cornelius

Second Defendant

Charles Ridley

Third Defendant

Eren Nil

Fourth Defendant

CCH Europe GmbH

Fifth Defendant

Procedural Posture

Commercial Debt Claim / Ruling on Applications to Amend Defences and Adduce Expert Evidence

Legal Issues

  1. 1 Whether UAE/Dubai law can discharge an English law debt by appropriation of foreign security
  2. 2 Whether late amendments to pleadings should be permitted
  3. 3 Whether expert evidence of UAE law is relevant and admissible

Ratio Decidendi

The debt under the RSA is governed by English law, so UAE/Dubai law cannot discharge it by virtue of the Bank's appropriation of Plantation land; late amendments and expert evidence are inadmissible as they do not give rise to a defence with real prospect of success.

Court Disposition

Applications refused

Orders

  • Application by second and third defendants to amend their defences is refused
  • Application to adduce expert evidence of Dr Makkawi is refused