DIFC courts have said a freezing order issued for a US$500 million luxury yacht and related to a complex UK divorce settlement case will remain in place until at least July, when a second hearing will be heard in Dubai.
Tatiana Akhmedov, the wife of Russian oil tycoon Farkhad Akhmedov, is attempting to use Dubai's international commercial courts to enforce a UK High Court Order to seize assets, in this case the superyacht Luna, as part of a divorce settlement of more than $600 million.
The yacht is secured in a family trust fund called Straight Establishment making it difficult for lawyers to determine who legally owns the vessel. It is currently docked in Port Rashid.
A complex legal argument took place at the courts in DIFC on Wednesday, with judges deciding to reconvene for a second hearing on July 11 to consider new elements in the case.
“At the time of the return date the court did not have jurisdiction over the second defendant, Straight Establishment,” said Justice Sir David Steel.
“The reasons for that in conclusion will be prepared in writing and distributed ... Despite that, the freezing order under the existing terms on the yacht shall remain in force until further order.”
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Read more:
Dubai court hears Russian oligarch's battle to save luxury yacht
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Day 5, Abu Dhabi Test: At a glance
Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.
Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.
The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.
UAE currency: the story behind the money in your pockets
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
