Clyde & Co advised and represented Credit Suisse on a significant case before the DIFC Court of Appeal.
The DIFC Court of Appeal has ruled in favour of Credit Suisse in Case No. CA-002-2021 Ashok Kumar Goel and others v Credit Suisse (Switzerland) Ltd in respect of a challenge to jurisdiction raised by the Appellants on the basis of “Courts of Dubai” wording contained in a jurisdiction clause. This case is significant as it is the first Article 5(A)(2) ‘opt-in’ case to be considered since the opt-in provisions of the Judicial Authority Law came into force in 2011 and means that a Worldwide Freezing Order (WWFO) will remain in place as regards the Appellants’ worldwide assets.
Clyde & Co represented Credit Suisse in the DIFC Courts proceedings, together with Michael Black QC, on obtaining a WWFO which included ex parte hearings before the DIFC Court of First Instance, the DIFC Court of Appeal and on all aspects of the subsequent inter partes appeal process.
The Clyde & Co team was led by Susie Abdel-Nabi (Picture) and Nicola Jackson (Senior Associate – Dispute Resolution).
Law Firms: Clyde & Co LLP;
Clients: Credit Suisse (Schweiz) AG;