DIFC Court dismisses US$500m claim against DIFCA and DIFCI

On 2 March 2022, the DIFC Court handed down judgment in Hexagon Holdings (Cayman) Limited v (1) DIFC Investments and (2) DIFC Authority [2019] CFI 013 (2 March 2022), one of the largest substantive claims ever heard by the DIFC Courts.

The Judgment followed a 12 day trial in February. Justice Sir Jeremy Cooke dismissed the US$500m (AED 1.75bn) claim in its entirety.

Tom Montagu-Smith QC, who acted for the successful Defendants (instructed by Graham Lovett, Michael Stewart and Sophia Cafoor-Camps) has prepared a note on the judgment.