Racha Alkhawaja v. TPL Investment Management Ltd & Anor
12th September 2024
The Abu Dhabi Global Market Court in Alkhawaja v TPL Investment Management Ltd (1) TPL Reit Management Company Ltd (2) has handed down judgment in what was the highest value claim ever heard in the ADGM Employment Division.
The judgment is the first in the ADGM courts to consider a variety of company law issues, including a director’s authority to enter into contracts on behalf of the company, warranty of authority, directors duties, issues concerning directors remuneration and Re Duomatic (at paragraphs [8] and [14]-[20]).
Lily Church appeared for the defendants, led by James Bickford Smith and James Green of Littleton Chambers.
The Claimant was the former CEO of an ADGM investment manager (D1), and a former director of its Pakistan Real Estate Investment Trust parent (D2). C brought a claim for sums claimed to be due under an ‘Inventive Letter Agreement’ which on the claimant’s case entitled her to a perpetual share in respect of multi-million dollar real estate investment projects and related employment claims. The defendants successfully defended that claim on points of company law.
Please click the links below to view the Judgment and case summary.
🔸 Judgment
