Basin Supply Corporation v (1) Rouge Llc (2) Claude Barret [2018] DIFC CFI 057 (06 September 2020)

Basin Supply Corporation v (1) Rouge Llc (2) Claude Barret [2018] DIFC CFI 057 (06 September 2020)

The contract is governed by English law per express choice; the loan agreement and guarantee are valid and enforceable; variations to the contract were consented to and do not discharge the guarantee; Defendants are jointly and severally liable for repayment of the loan, interest, and costs on the indemnity basis.

Citation
[2018] DIFC CFI 057
Parties
Claimant: Basin Supply Corporation; First Defendant: Rouge LLC; Second Defendant: Claude Barret
Jurisdiction
United Arab Emirates
Judgment Date
06 September 2020
Procedural Posture
Civil Claim for Repayment of Loan and Guarantee Enforcement / Final Judgment After Trial
Outcome
Judgment for the Claimant
Legal Topics
Loan Agreement Validity, Guarantee Enforcement, Choice of Law, Variation of Contract, Jurisdiction, Restitution, Unjust Enrichment, Resulting Trust, Costs
Contract Law Commercial Law Conflict of Laws Loan Agreement Validity Guarantee Enforcement Choice of Law Variation of Contract Jurisdiction +4 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 12 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Basin Supply Corporation

Claimant

Rouge LLC

First Defendant

Claude Barret

Second Defendant

Procedural Posture

Civil Claim for Repayment of Loan and Guarantee Enforcement / Final Judgment After Trial

Legal Issues

  1. 1 Is the loan agreement valid and enforceable under English law or UAE law?
  2. 2 Is the guarantee by Mr Barret enforceable despite variations to the contract?
  3. 3 Are the Defendants liable for repayment of the loan and interest?

Ratio Decidendi

The contract is governed by English law per express choice; the loan agreement and guarantee are valid and enforceable; variations to the contract were consented to and do not discharge the guarantee; Defendants are jointly and severally liable for repayment of the loan, interest, and costs on the indemnity basis.

Court Disposition

Judgment for the Claimant

Orders

  • Defendants to pay USD 1,688,194.95 to Claimant plus interest at 10.5% from 16 March 2020 on principal sum only
  • Defendants to pay costs on indemnity basis