Sarinton Trading Inc v Mr Andreas Michael Reichmuth [2013] DIFC CFI 020 (17 December 2013)

The Court was satisfied that the condition precedent in the Assignment Agreement had been fulfilled, entitling the Claimant to the assignment of the Defendant's interests under the Sale and Purchase Agreements, subject to the consent of Damac Real Estate Asset Management Company Limited.

Citation: [2013] DIFC CFI 020
Parties: Claimant: Sarinton Trading Inc; Defendant: Mr Andreas Michael Reichmuth
Jurisdiction: United Arab Emirates
Judgment Date: 17 December 2013
Procedural Posture: Civil / Default Judgment
Outcome: Default judgment for the Claimant
Legal Topics: Assignment Agreement, Sale and Purchase Agreement, Default Judgment

Contract Law Property Law Assignment Agreement Sale and Purchase Agreement Default Judgment

Case Brief

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Parties

Sarinton Trading Inc

Claimant

Mr Andreas Michael Reichmuth

Defendant

Procedural Posture

Civil / Default Judgment

Legal Issues

1 Whether the condition precedent in the Assignment Agreement was fulfilled
2 Whether the Defendant's interests under the Sale and Purchase Agreements were validly assigned to the Claimant

Ratio Decidendi

Court Disposition

Default judgment for the Claimant

Orders

Declaration that, subject to the consent of Damac Real Estate Asset Management Company Limited, the Defendant's interests under the Sale and Purchase Agreements have been wholly assigned to the Claimant.
Costs of the claim and application for default judgment to be subject to detailed assessment before the DIFC Courts Registrar.