Techteryx Ltd v Aria Commodities DMCC & Ors

Claim No. DEC 001/2025

IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

IN THE COURT OF FIRST INSTANCE

BETWEEN

TECHTERYX LTD.

Claimant

and

(1) ARIA COMMODITIES DMCC

First Defendant/First Respondent

(2) MATTHEW WILLIAM BRITTAIN

Second Respondent

(3) MASHREQ BANK PSC (4) EMIRATES NBD BANK PJSC (5) ABU DHABI ISLAMIC BANK PJSC

Defendants

and

(6) ARIA BIO INDUSTRIES FZE

Third Respondent

ORDER WITH REASONS OF H.E. JUSTICE MICHAEL BLACK

UPON the Order of H.E. Justice Michael Black KC dated 28 February 2025 (the “WFO”) granting inter alia the following orders:

(1) a proprietary injunction prohibiting Aria Commodities DMCC (“Aria DMCC”) from disposing of, dealing with, or diminishing cash or assets to the value of the sum of USD 456,000,000 transferred to Aria DMCC or the traceable proceeds thereof;

(2) a worldwide freezing injunction, prohibiting Aria DMCC from removing from Dubai any of its assets which are in Dubai up to the value of USD 456,000,000 or in any way disposing of, dealing with or diminishing the value of any of its assets whether in or outside Dubai up to the same value; and

(3) ancillary disclosure orders inter alia requiring Aria DMCC to inform the Applicant’s legal representatives of (i) any onward dealings with any of the funds received from Legacy Trust Company and First Digital Trust Limited, including as to who was the ultimate beneficiary of such dealings; (ii) the current, value, location and details of all of the sums received including as to who is currently the ultimate beneficiary of such funds; and (iii) the current, value, location and details of any traceable proceeds including as to who is currently the ultimate beneficiary of such assets

AND UPON the Order of H.E. Justice Michael Black dated 7 August 2025 inter alia continuing the injunctions made under the WFO until further order of the Court

AND UPON the Order of H.E. Justice Michael Black dated 17 October 2025 (the “October Disclosure Order”) in response to the Applicant’s Application No. DEC-001-2025/12, directing Aria DMCC to remedy its non-compliance with the disclosure orders in paragraphs 14-16 of the WFO by inter alia (a) Mr Brittain swearing and submitting a further affidavit providing all of the information required by paragraph 14(2) of the WFO and (b) Aria DMCC, among other things, explaining the complete onward flow of moneys and their traceable proceeds from the payments out of the its bank accounts

AND UPON the Claimant's Application No. DEC-001-2025/21 dated 30 April 2026 for permission to amend the Contempt Application (the “Amendment Application”) in the form of the Amended Application Notice and draft Particulars of Contempt filed together with the application

AND UPON the Order of H.E. Justice Michael Black dated 6 May 2026 giving directions in respect of the Contempt Application, including that the Final Hearing be listed for 5 days beginning on 27 July 2026

AND UPON the Claimant’s Application No. DEC-001-2025/22 dated 13 May 2026 seeking an order requiring the First Defendant to remedy its non-compliance with paragraph 17(2) of the Order dated 28 February 2025 (the “Remedy Application”)

AND UPON the Order of H.E. Justice Michael Black dated 30 June 2026 in respect of, inter alia , the application of paragraph 17(2) of the Orders (the “30 June Order”)

AND UPON the Respondents’ Application No. DEC-001-2025/28 dated 17 July 2026 to adjourn the Final Hearing of the Contempt Application and for further directions (the “Adjournment Application”)

AND UPON the Claimant sending amended draft Particulars of Contempt to the First and Second Respondents on 17 July 2026

AND UPON hearing Counsel for the Claimant and Counsel for the First and Second Respondents in respect of the Adjournment Application at the hearing on 27 July 2026

AND UPON hearing Counsel for the Claimant and the Second Respondent, acting for himself and on behalf of the First Respondent, in respect of the Amendment Application on the same date

AND UPON the Court having determined, in the course of hearing the Adjournment Application, the proper interpretation and effect of paragraph 4(b) of the 30 June Order

AND UPON the Amended Order with Reasons of H.E. Justice Michael Black dated 25 August 2026

AND UPON hearing Counsel for the Applicant and Counsel for the Respondent at a hearing held before H.E. Justice Michael Black on 26 August 2026 (the “Hearing”)

IT IS HEREBY ORDERED THAT:

1. The Committal Hearing shall be adjourned to 26 October 2026 with an estimated length of hearing of 4 days.

2. The Committal Hearing shall take place in person in the Court save that Mr Peto KC has permission to attend remotely.

3. The parties shall liaise with a view to agreeing directions leading to the Committal Hearing no later than 4pm (GST) on 7 September 2026 . In default of agreement, the parties shall communicate their proposals to the Court by 4pm ( GST) on 8 September 2026 and the Court will determine the appropriate directions on paper.

4. Matthew William Brittain shall, to the best of his ability, swear and serve an affidavit by 4pm (GST) on 7 September 2026 , which must:

(a) provide the following information in respect of all moneys paid to Quinn Emanuel, Horizons, Gall, Campbells and FTI Consulting:

(i) the amounts that have been paid to each of them;

(ii) the dates of such payments;

(iii) the details of the bank accounts from which any moneys were paid to each of them;

(iv) a full explanation of the ultimate sources of these payments, including for each bank account from which moneys have been paid to Quinn Emanuel, Horizons, Gall, Campbells or FTI Consulting:

a. details of the original sources from which any moneys which have been paid into those accounts are ultimately derived, including the identity of the ultimate beneficial owner of such moneys; and

b. an explanation of how those accounts were funded, in what amount(s), and when;