Paul Bonner Hughes successfully strikes out all claims against defendant in long-running ADGM case

The Court of First Instance of the Abu Dhabi Global Market (the CFI) recently handed down a judgment striking out all of the claims advanced against Mr Dahi Yousef Ahmed Abdulla Almansoori, a defendant in a long-running dispute concerning an alleged fraud relating to the acquisition of certain P-Notes. The Claimants, who are seeking to recover up to AED 320,717,867.84 (approximately £64.5m, subject to set off), brought claims against Mr Almansoori for negligent misstatement, breach of directors’ duties, compensation under s. 242 of the Financial Services and Markets Regulations and unlawful means conspiracy. The CFI (Justice Sir Andrew Smith) determined, on an application by Mr Almansoori for strikeout and/or summary judgment, that none of the claims advanced against him had a realistic prospect of success.

Paul Bonner Hughes, instructed by DLA Piper Middle East LLP, appeared unled for Mr Almansoori.

You can read the CFI’s judgment here.