gapco tanzania limited vs alchemist energy trading dmcc and 1 another 2021 tzhccomd 3264 9 july 2021

gapco tanzania limited vs alchemist energy trading dmcc and 1 another 2021 tzhccomd 3264 9 july 2021

The Applicant satisfied the legal requirements for the grant of ex-parte interim orders, including urgency, risk of irreparable loss, and a prima facie case. The court found that restraining payment under the Letter of Credit was necessary to preserve the status quo pending inter-partes hearing.

Citation
gapco tanzania limited vs alchemist energy trading dmcc and 1 another 2021 tzhccomd 3264 9 july 2021
Parties
Applicant: GAPCO Tanzania Limited; 1st Respondent: Alchemist Energy Trading DMCC; 2nd Respondent: Citi Bank Tanzania Limited
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
9 July 2021
Procedural Posture
Miscellaneous Commercial Application / Ruling on Ex Parte Interim Orders
Outcome
Ex-parte interim orders granted
Legal Topics
Interim Injunctions, Letters of Credit, Urgent Relief, Service of Process
Source Language
English
Commercial Law Arbitration Interim Injunctions Letters of Credit Urgent Relief Service of Process

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Parties

GAPCO Tanzania Limited

Applicant

Alchemist Energy Trading DMCC

1st Respondent

Citi Bank Tanzania Limited

2nd Respondent

Procedural Posture

Miscellaneous Commercial Application / Ruling on Ex Parte Interim Orders

Legal Issues

  1. 1 Whether ex-parte interim orders should be granted to restrain payment under a Letter of Credit pending determination of the main application
  2. 2 Whether service on the 1st Respondent was duly effected

Ratio Decidendi

The Applicant satisfied the legal requirements for the grant of ex-parte interim orders, including urgency, risk of irreparable loss, and a prima facie case. The court found that restraining payment under the Letter of Credit was necessary to preserve the status quo pending inter-partes hearing.

Court Disposition

Ex-parte interim orders granted

Orders

  • 2nd Respondent, its servants, agents, or any person acting on its behalf, is restrained from issuing or giving the 1st Respondent any monies payable under Letter of Credit Number 5279600195 to the tune of USD 816,335 or any part thereof, pending hearing and determination of the present application inter-partes.
  • 1st Respondent, its servants, agents, or any person acting on its behalf, is restrained from receiving or performing any act calculated to receive any monies payable under Letter of Credit Number 5279600195 to the tune of USD 816,335 or any part thereof, pending hearing and determination of the present application...