Sky Property Holdings Ltd v. Corporate Sky Business Center Ltd [2025] ADGMCFI 0021 (01 September 2025)

Sky Property Holdings Ltd v. Corporate Sky Business Center Ltd [2025] ADGMCFI 0021 (01 September 2025)

Sky established a serious issue to be tried regarding its entitlement to rent or damages under the lease, and provided admissible evidence of a real risk of dissipation based on threats by CSBC to dispose of assets. The evidence of threats was admissible as the meeting was not a negotiation to settle a dispute, and even if it was, the 'unambiguous impropriety' exception would apply. It is just and convenient to grant a worldwide freezing order to prevent frustration of any judgment.

Citation
[2025] ADGMCFI 0021
Parties
Claimant/applicant: SKY PROPERTY HOLDINGS LTD; Defendant/respondent: CORPORATE SKY BUSINESS CENTER L. T. D
Jurisdiction
United Arab Emirates
Judgment Date
01 September 2025
Procedural Posture
Commercial Freezing Order Application / Without Notice Interim Application, Judgment on Application
Outcome
Worldwide freezing order granted
Legal Topics
Freezing Injunctions, Risk of Dissipation, Without Prejudice Privilege, Lease Disputes, Jurisdiction of ADGM Courts
Commercial Law Civil Procedure Freezing Injunctions Risk of Dissipation Without Prejudice Privilege Lease Disputes Jurisdiction of ADGM Courts

Case Brief

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Parties

SKY PROPERTY HOLDINGS LTD

Claimant/applicant

CORPORATE SKY BUSINESS CENTER L. T. D

Defendant/respondent

Procedural Posture

Commercial Freezing Order Application / Without Notice Interim Application, Judgment on Application

Legal Issues

  1. 1 Whether the applicant has a serious issue to be tried for a freezing order
  2. 2 Whether there is a real risk of dissipation of assets by the respondent
  3. 3 Whether evidence of threats made during settlement discussions is admissible under the 'without prejudice' rule or its exceptions

Ratio Decidendi

Sky established a serious issue to be tried regarding its entitlement to rent or damages under the lease, and provided admissible evidence of a real risk of dissipation based on threats by CSBC to dispose of assets. The evidence of threats was admissible as the meeting was not a negotiation to settle a dispute, and even if it was, the 'unambiguous impropriety' exception would apply. It is just and convenient to grant a worldwide freezing order to prevent frustration of any judgment.

Court Disposition

Worldwide freezing order granted

Orders

  • CSBC restrained from disposing of, dealing with, or diminishing the value of any of its assets worldwide up to AED 3,748,500.
  • CSBC to provide information about its assets worldwide.