SBM Bank (Mauritius) Ltd v (1) Renish Petrochem FZE (2) Mr Hiteshkumar Chinubhai Mehta [2024] DIFC CA 011 (26 June 2024)

By consent, the Second Appellant is liable for the Respondent's costs as awarded, with the security for costs to be released and the balance to be paid within 14 days.

Citation: [2024] DIFC CA 011
Parties: Respondent/claimant: SBM Bank (Mauritius) Ltd; Appellant/defendant: Renish Petrochem FZE; Appellant/defendant: Mr Hiteshkumar Chinubhai Mehta
Jurisdiction: United Arab Emirates
Judgment Date: 26 June 2024
Procedural Posture: Appeal / Consent Order Following Dismissal of Appeal
Outcome: Consent order; costs awarded to Respondent; security for costs released; balance to be paid by Second Appellant.
Legal Topics: Costs, Security for Costs, Consent Orders

Civil Procedure Costs Security for Costs Consent Orders

Case Brief

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Parties

SBM Bank (Mauritius) Ltd

Respondent/claimant

Renish Petrochem FZE

Appellant/defendant

Mr Hiteshkumar Chinubhai Mehta

Appellant/defendant

Procedural Posture

Appeal / Consent Order Following Dismissal of Appeal

Legal Issues

1 Liability for costs following dismissal of appeal
2 Release of security for costs
3 Settlement of outstanding costs

Ratio Decidendi

By consent, the Second Appellant is liable for the Respondent's costs as awarded, with the security for costs to be released and the balance to be paid within 14 days.

Court Disposition

Consent order; costs awarded to Respondent; security for costs released; balance to be paid by Second Appellant.

Orders

Second Appellant to bear Respondent's costs in the sum of USD 398,958.79.
Security for costs (USD 250,000) to be released to Respondent as partial settlement.