KBC Aldini Capital Limited v (1) David Baazov (2) Canaccord Genuity Corp (3) Canaccord Genuity (Dubai) Limited [2017] DIFC CFI 002 (14 October 2018)

KBC Aldini Capital Limited v (1) David Baazov (2) Canaccord Genuity Corp (3) Canaccord Genuity (Dubai) Limited [2017] DIFC CFI 002 (14 October 2018)

Canada is not shown to be a clearly more appropriate forum than the DIFC, especially as the proceedings against the Second and Third Defendants will continue in the DIFC and the interests of justice require the claims to be heard together. The application for a stay is therefore dismissed.

Citation
[2017] DIFC CFI 002
Parties
Claimant: KBC Aldini Capital Limited; First Defendant: David Baazov; Second Defendant: Canaccord Genuity Corp; Third Defendant: Canaccord Genuity (Dubai) Limited
Jurisdiction
United Arab Emirates
Judgment Date
14 October 2018
Procedural Posture
Civil / Interlocutory Application for Stay (forum Non Conveniens)
Outcome
Application for stay dismissed
Legal Topics
Forum Non Conveniens, Jurisdiction, Conflict of Laws, Tortious Liability, Damages, Breach of Statutory Duty
Private International Law Tort Law Commercial Law Forum Non Conveniens Jurisdiction Conflict of Laws Tortious Liability Damages +1 more

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Parties

KBC Aldini Capital Limited

Claimant

David Baazov

First Defendant

Canaccord Genuity Corp

Second Defendant

Canaccord Genuity (Dubai) Limited

Third Defendant

Procedural Posture

Civil / Interlocutory Application for Stay (forum Non Conveniens)

Legal Issues

  1. 1 Whether Canada is a clearly more appropriate forum than the DIFC for the dispute between the Claimant and the First Defendant under the doctrine of forum non conveniens
  2. 2 Whether the proceedings in the DIFC should be stayed against the First Defendant

Ratio Decidendi

Canada is not shown to be a clearly more appropriate forum than the DIFC, especially as the proceedings against the Second and Third Defendants will continue in the DIFC and the interests of justice require the claims to be heard together. The application for a stay is therefore dismissed.

Court Disposition

Application for stay dismissed

Orders

  • The First Defendant’s application for a stay of proceedings is dismissed.