Cerulean wins on liability for claimant in US$2bn claim against Dubai Islamic Bank
Stuart Cakebread and Juliette Levy have successfully taken on the combined might of Blackstone Chambers and Baker McKenzie to win on liability in Plantation Holdings (FZ) LLC’s claim against Dubai Islamic Bank (DIB).
They established that Plantation was vindicated in its claim that its asset, worth up to US$2bn, was illegally seized by the Bank in July 2008 on the basis of breaches by it of its security agreement with DIB which never took place. This followed a 9-week trial in the Commercial Court in London.
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