Rassmal Investments LLC v Mubarak Abdullah Al Suwaiket & Sons and Ors (Royal Court : Hearing (Civil) : MacRae : Companies) [2025] JRC 331 (12 December 2025)

Rassmal Investments LLC v Mubarak Abdullah Al Suwaiket & Sons and Ors (Royal Court : Hearing (Civil) : MacRae : Companies) [2025] JRC 331 (12 December 2025)

The Court has the power and discretion to grant declaratory relief even if not specifically pleaded, where it is just, serves a useful purpose, and reflects the findings of the judgment, particularly regarding valuation and the parties' rights. Injunctive relief was refused due to lack of precision and potential prejudice to future transactions.

Citation
[2025] JRC 331
Parties
Plaintiff: Rassmal Investments LLC; First Defendant: Mubarak Abdullah Al Suwaiket & Sons; Second Defendant: Abdullah Al Suwaiket; Third Defendant: Mubarak Al Suwaiket; Fourth Defendant: MAMS Holdings Limited; Fifth Defendant: VCI Limited; Sixth Defendant: VCI Property Holding Limited; Seventh Defendant: VCI Intermediate Limited
Jurisdiction
Jersey
Judgment Date
12 December 2025
Procedural Posture
Civil / Judgment on Terms of Order Following Final Judgment
Outcome
Declaratory relief granted; injunctive relief refused.
Legal Topics
Declaratory Relief, Valuation Disputes, Enforcement of Judgments
Company Law Equity Declaratory Relief Valuation Disputes Enforcement of Judgments

Case Brief

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Parties

Rassmal Investments LLC

Plaintiff

Mubarak Abdullah Al Suwaiket & Sons

First Defendant

Abdullah Al Suwaiket

Second Defendant

Mubarak Al Suwaiket

Third Defendant

MAMS Holdings Limited

Fourth Defendant

VCI Limited

Fifth Defendant

VCI Property Holding Limited

Sixth Defendant

VCI Intermediate Limited

Seventh Defendant

Procedural Posture

Civil / Judgment on Terms of Order Following Final Judgment

Legal Issues

  1. 1 Whether the Court should grant declaratory relief reflecting findings on valuation and rights of the parties
  2. 2 Whether injunctive relief should be granted to prevent frustration of the judgment

Ratio Decidendi

The Court has the power and discretion to grant declaratory relief even if not specifically pleaded, where it is just, serves a useful purpose, and reflects the findings of the judgment, particularly regarding valuation and the parties' rights. Injunctive relief was refused due to lack of precision and potential prejudice to future transactions.

Court Disposition

Declaratory relief granted; injunctive relief refused.

Orders

  • Declaration: If any Defendant receives a sum greater than the Clause 11.10 Discharge Figure from dealings with Vauxhall Cross or related entities, Plaintiff is entitled to 49% of this sum, up to £12,973,399.
  • Declaration: Plaintiff is owed £547,942 by the Fifth Defendant, enforceable only if a sum greater than the Clause 11.10 Discharge Figure is received from dealings with Vauxhall Cross or related entities.