![]() The Court heard arguments regarding agreements to agree, withdrawal of renunciation, loss of the right to terminate under DIFC Contract Law for failure to give timely notice, and common law affirmation. The case involved a number of interesting legal issues stemming from the peculiar facts: Hexagon claimed that between 20, the Defendants had breached a joint venture agreement and had also renounced the same agreement in 2012, and yet Hexagon did not purport to terminate until 2018. ![]() Akin Gump1 (Graham Lovett, Michael Stewart and Sophia Cafoor-Camps) and Tom Montagu-Smith QC acted for the Defendants. In the end, after three years of hard-fought litigation (including an initial strike-out of Hexagon’s claim), Hexagon’s claim proved to be entirely unmeritorious, with the Defendants winning on every material issue at trial. The trial was the culmination of a 16-year saga between Hexagon and the DIFC Authority and its subsidiary, DIFC Investments (together, the “Defendants”), regarding a failed joint venture to develop land in the Dubai International Financial Centre (the “DIFC”). So ended one of the largest damages claims to reach full trial in the DIFC Courts, with a combined claim value of US $500 million. On 4 August 2022, Justice Robert French, sitting in the DIFC Court of Appeal, dismissed an application by the Claimant, Hexagon Holdings (Cayman) Limited (“Hexagon”), for permission to appeal against the Judgment of Justice Sir Jeremy Cooke dated 2 March 2022, which had dismissed Hexagon’s claims in full. Termination for fundamental breach under DIFC Contract Law – failure to give notice of termination within a reasonable time – whether a reservation of rights extends the time period for termination – affirmation – anticipatory breach – agreements to agree - the importance of cross-examining on all material issues. ![]() To embed, copy and paste the code into your website or blog: DIFC Authority and DIFC Investments LLC (CFI-013-201. ![]() Salutary Lessons in DIFC Contract Law: Hexagon Holdings (Cayman) Limited v. ![]()
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