CBD obtains possession of luxury London apartment in successful enforcement proceedings against Al Sari family
Client(s) Commercial Bank of Dubai PSC
Jones Day successfully represented subsidiaries of the Commercial Bank of Dubai (the "Bank") in possession proceedings brought against IGPL General Trading LLC and persons connected with the Al Sari family, a wealthy Emirati family operating in the oil and energy industries, in which the Bank obtained possession of a multi-million pound luxury apartment in London, England. Following an order for possession in April 2023, the Bank defeated urgent applications for injunctive relief, which were certified as "totally without merit" in September 2023 and proceeded to executing a writ of possession and a writ of control over high value vehicles.
The possession proceedings are part of the Bank's wider global enforcement efforts against the Al Saris in relation to a substantial judgment debt (c. $120 million) owed to it.