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Recognising and celebrating revolutionary solutions within the money companies and fintech industries, The Global FinTech Awards honour providers, startups and people demonstrating Excellent creativity, technological developments and market leadership.

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The Sustainable FinTech Award celebrates firms that demonstrate excellence in leveraging financial technological know-how to push sustainable and responsible tactics.

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four. The Claimant acknowledged and retained the topic aircraft in comprehensive fulfillment from the Leases plus the fiscal obligations claimed to get due and owing;

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Cessna asserted that it absolutely was entitled beneath the Guarantees to progress straight versus Each individual Guarantor with no first exhausting recovery from Gulf Jet as Lessee. (See Part C, Reveals three- six.) 87. Lastly, as set out within the Phrases of Reference, Cessna also sought reduction in respect of the Dubai Court Proceeding commenced by Gulf Jet on The idea that such proceeding was filed in direct contravention with the arbitration arrangement beneath the Lease Agreements as well as Guaranties. Based on the arbitration agreements, all disputes arising away from or in reference to the Lease shall be eventually settled by arbitration beneath the ICC Procedures by a number of arbitrators appointed in accordance with the stated principles. Cessna asserted that the subject matter of Gulf Jet's Dubai Courtroom Proceeding arose directly out from the Leases and so constituted an impermissible "run-close to", or contravention, in the agreements to arbitrate. Accordingly, pursuant to Write-up 28(1) from the ICC Principles and the Sole Arbitrator's other powers, Cessna sought an get in the character of an injunction that Gulf Jet needs to be needed to dismiss its Dubai action with prejudice. B. Posture of Respondent one, Gulf Jet and Respondent three Al Meeza 88. Inside their Reply, Respondents 1 and three denied check here all allegations on the Claimant in its Request for Arbitration and denied any liability to Cessna. Respondent 3 also expressly admitted that he bought the shares of Respondent 2 in Gulf Jet, but denied that he assumed or grew to become chargeable for the liabilities or debts of Gulf Jet. It was later on clarified inside the proof that the passions of Respondents 2 and three in Gulf Jet have been held as a result of other corporate entities managed by Every single of Respondent two and three respectively Which the acquisition in the shares in Gulf Jet managed by Respondent two was effected through a transaction concerning All those wholly owned entities. 89. In their Solution, Respondents one and three reviewed the factual history in the dealings with the Claimant in respect of The 2 Plane Leases and asserted several specifics including the following: a. In the Lease negotiations, Gulf Jet was the "minor person within the lease transactions without having opportunity to negotiate any terms of your Leases which had been put to it on "a acquire it or go away it foundation" and which were being proficiently contracts of adhesion (Respond to one.four, one.5 and four.four).

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245. With respect to The prices of the arbitration inside Article 37 (1) on the ICC Rules in respect of the service fees and costs of the only Arbitrator and the executive costs as now set because of the ICC Court docket in the level of US $ 190,000, all of which has been paid out by Cessna, it can be purchased the which the Respondents Gulf Jet, Al Meeza and Al Mulla are jointly and severally liable to pay for to Cessna the sum of US $ 190,000 for these charges of the arbitration. 246. The Tribunal establishes that any and all other promises and defenses not if not decided in this Ultimate Award be and exactly the same are hereby rejected. Jus AI Here are a few suggestions to acquire you commenced