Sheremet v CQT Investment Group Ltd [2025] ADGMCFI 0024 (15 October 2025)

Sheremet v CQT Investment Group Ltd [2025] ADGMCFI 0024 (15 October 2025)

CQT failed to demonstrate a real prospect of successfully defending the claim or any other good reason to set aside the default judgment. The application was made promptly, but the deliberate decision not to comply with the conditional order for payment into court, combined with unreliable evidence and insolvency, justified refusal to set aside the judgment.

Citation
[2025] ADGMCFI 0024
Parties
Claimant: Andriy Sheremet; Defendant: CQT Investment Group Ltd
Jurisdiction
United Arab Emirates
Judgment Date
15 October 2025
Procedural Posture
Commercial and Civil / Application to Set Aside Default Judgment
Outcome
Set Aside Application dismissed
Legal Topics
Default Judgment, Setting Aside Judgment, Relief From Sanctions, Conditional Orders, Enforcement of Judgments
Civil Procedure Commercial Law Default Judgment Setting Aside Judgment Relief From Sanctions Conditional Orders Enforcement of Judgments

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Parties

Andriy Sheremet

Claimant

CQT Investment Group Ltd

Defendant

Procedural Posture

Commercial and Civil / Application to Set Aside Default Judgment

Legal Issues

  1. 1 Whether the defendant has a real prospect of successfully defending the claim under ADGM CPR 41(2)(a)
  2. 2 Whether there is some other good reason to set aside the default judgment under ADGM CPR 41(2)(b)
  3. 3 Whether the application to set aside was made promptly under ADGM CPR 41(2)(c)

Ratio Decidendi

CQT failed to demonstrate a real prospect of successfully defending the claim or any other good reason to set aside the default judgment. The application was made promptly, but the deliberate decision not to comply with the conditional order for payment into court, combined with unreliable evidence and insolvency, justified refusal to set aside the judgment.

Court Disposition

Set Aside Application dismissed

Orders

  • The Set Aside Application is dismissed.
  • The Defendant is to pay the Claimant's costs of the Set Aside Application, to be summarily assessed on the standard basis if not agreed.