Dubai Financial Services Authority v Arif Naqvi [2023] DIFC CFI 021 (18 September 2023)

Dubai Financial Services Authority v Arif Naqvi [2023] DIFC CFI 021 (18 September 2023)

The court granted default judgment because the defendant failed to file a defence within the required time, the claim was for a specified sum, and all procedural requirements under the Rules of the DIFC Courts were satisfied.

Citation
[2023] DIFC CFI 021
Parties
Claimant: Dubai Financial Services Authority; Defendant: Arif Naqvi
Jurisdiction
United Arab Emirates
Judgment Date
18 September 2023
Procedural Posture
Civil / Default Judgment
Outcome
judgment for claimant
Legal Topics
Default Judgment, Enforcement of Monetary Claims, Service Outside Jurisdiction
Financial Regulation Civil Procedure Default Judgment Enforcement of Monetary Claims Service Outside Jurisdiction

Case Brief

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Parties

Dubai Financial Services Authority

Claimant

Arif Naqvi

Defendant

Procedural Posture

Civil / Default Judgment

Legal Issues

  1. 1 Whether the claimant is entitled to default judgment for a specified sum due to the defendant's failure to file a defence
  2. 2 Whether the procedural requirements for default judgment under the Rules of the DIFC Courts have been satisfied

Ratio Decidendi

The court granted default judgment because the defendant failed to file a defence within the required time, the claim was for a specified sum, and all procedural requirements under the Rules of the DIFC Courts were satisfied.

Court Disposition

judgment for claimant

Orders

  • The defendant is ordered to pay the claimant USD 135,632,809 plus interest at 9% per annum from the date of judgment until full payment.
  • The claimant shall serve this default judgment on the defendant.