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four. The Claimant acknowledged and retained the topic aircraft in full pleasure on the Leases and the money obligations claimed to get thanks and owing;

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Even so, there is nothing in the language of These Content to even counsel that these kinds of jurisdiction was exclusive. With a plain looking at of those Articles or blog posts, the Dubai Court docket can have, at very best, a concurrent jurisdiction less than its very own rules of civil process, devoid of regard to your relevant rules of conflicts of Rules. Even so, People Content articles did not give and did not purport to provide the Dubai Courtroom an exceptional jurisdiction around the disputes raised During this arbitration. I Here's no language by any means while in the Article content of your UAE CCP relied upon through the Respondents 1 and 3 which purport to oust the concurrent jurisdiction which may be effectively exercised by some other national court docket world wide or, as In such a case, by a world arbitral tribunal seated outside the house the UAE and correctly constituted less than an arbitration arrangement along with the relevant arbitral procedures agreed through the events.

This Tribunal accepts the pro feeling of Mr. Dufour as staying aim and reasoned, appropriately and amply supported via the evidence of real market gross sales to serve as reliable comparables. His technique, Evaluation of your revenue information and conclusions are persuasive.

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iii. Repossession and sale of the aircrafts with the settlement in the exceptional balance in the sale cost;

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DISCUSSION, Evaluation AND FINDINGS 102. Numerous the issues mentioned higher than can be easily consolidated less than only one heading in order to aid a far more effective dialogue and overview from the evidentiary and authorized problems typical to the two Leases, specifically with respect to the issues of legal responsibility, including available defences, followed by an evaluation in the calculation from the damage promises for the two Leases, It is suitable to commence with the threshold difficulty of jurisdiction which was lifted by Respondents one and three and reserved partly in Procedural Buy #2 for remaining willpower in the merits Listening to and In this particular Last Award. Jurisdiction of the Tribunal 103. Jurisdiction of this Tribunal as Disputed by Respondents one and 3. Pursuing the company on the RFA within the Respondents by the ICG Secretariat and prior to the appointment in the Tribunal, Respondents one and three challenged the jurisdiction of the ICC to move forward with this particular arbitration over the grounds mentioned in paragraph 26 and 27 earlier mentioned. The ICC Courtroom identified under ICC Rule 6(4) which the arbitration must progress but that the only real Arbitrator could be obliged to determine his very own jurisdiction in due course. 104. Respondents 1 and three renewed their jurisdictional obstacle just before this Tribunal Through movement to remain this arbitration which motion was dismissed by Procedural Get #2. On that movement, the Respondents one and three relied principally within the existence of your Dubai Court docket Continuing coupled having an alleged waiver via the Claimant of its right to need arbitration as The premise for the keep. Additionally, as a substitute jurisdictional challenge, Respondents one and 3 also sought leave on that movement to adduce further evidence with the merits Listening to on The shortage of authority for Respondent 2 Al Mulla to comply with arbitration, thereby rendering the arbitration agreements void and unenforceable. Although this Tribunal completely addressed the impact of the Dubai Courtroom Proceeding in Procedural Buy #two and established that the existence of Those people proceedings did not justify keeping this arbitration, the jurisdictional problem within the invalidity from the arbitration clauses was adjourned for the deserves hearing to permit Respondents one and three to adduce these types of more evidence as asked for to demonstrate The dearth of authority. It's now appropriate to fully and finally handle On this Ultimate Award The explanations for locating the jurisdictional challenge by Respondents one and three are unable to succeed on any of your grounds asserted. It should even be mentioned that Respondent 2 didn't at any time challenge the jurisdiction of this Tribunal to commence using this arbitration. one hundred and five. It is suitable to notice which the jurisdictional arguments of Respondents l and 3 were centered entirely on the application from the rules from the United Arab Emirates ("UAF") as well as the laws of Dubai.

v. Claimant s course of action to the sale from the plane without the need of thanks thought for the provisions of your Leases, specifically clause fourteen.b.

Having said that, without having prior notification to the Tribunal, Al Mulla and his counsel did not show up at the merits hearing which commenced on September 17, 2013 and proceeded without the need of their attendance or direct participation. 5. The merits Listening to was held on September seventeen and 18, 2013 with the Big apple Intercontinental Arbitration Centre, Big apple, Big apple, U.S.A. on the appointed time. Oral proof was listened to from the entire witnesses who experienced shipped witness statements relied on by the Claimant. Although the Respondents did not show up at the deserves Listening to, the here defences to the claims of Cessna raised from the Respondents in their Solutions to the Request for Arbitration and within the Memorial of Al Mulla had been regarded as and had been the subject of questioning on the witnesses relied upon from the Claimant. In the conclusion of your deserves hearing, this issue was held below reserve pending the delivery of prices submissions within the get-togethers as well as completion of the Last Award. six. Immediately after thorough critique on the submissions, the proof plus the legal authorities relied on because of the events throughout this arbitration and an assessment from the transcript of your proceedings within the merits Listening to, this Tribunal determines the Claimant is entitled to an award in its favour against the Respondent Gulf Jet for the quantity of the deficiency and interest in regard of The 2 aircraft Leases as far more specifically set out in paragraphs 236 and 237 hereof. In addition, the Claimant is likewise entitled to an award in its favour against Just about every of Al Mulla and Al Meeza as guarantors from the obligation of Gulf Jet beneath the Leases with the amounts as set out in paragraphs 238 - 241 hereof. Eventually, the Claimant is entitled to an award for its expenses of this arbitration while in the quantities specifically set out in paragraph 244 and 245. Cessna is additionally entitled to your declaratory aid established out in paragraph 243. However, Cessna's claim for an order in the nature of an injunction is denied as verified in paragraph 242. THE Events AND THEIR Reps 7. The Claimant is a corporation incorporated and existing beneath the rules with the Point out of Kansas in The usa of The usa, which is engaged during the business of leasing and funding the leasing of plane. It can be a completely owned subsidiary of Textron Economical Company, which consequently is a wholly owned subsidiary of Textron, Inc., an organization whose shares are publicly traded over the Big apple Inventory Exchange. The handle and principal put of business enterprise with the Claimant is 220 West Douglas, Suite 300, Wichita, Kansas, 67202-3106, U.S.A. 8. The Claimant has long been represented all over this arbitration by the next counsel: Gibson, Dunn & Crutcher LLP

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