27 February 2015
Plantation Holdings (FZ) Llc v Dubai Islamic Bank PJSC [2015] EWHC 272 (Comm), [2015] All ER (D) 179 (Feb)
Following allegations of fraud in property development in Dubai, the defendant bank entered into a restructuring agreement (the RSA) with a number of parties, including the claimant. It subsequently claimed that the defendant had breached the RSA. The claimant commenced proceedings, and applied for summary judgment. The Commercial Court held that, on the expert evidence, it was not possible to conclude that the bank’s case was fanciful, and dismissed the application.
