Claim No. SCT 061/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE
COURTS
In the name of His Highness Sheikh Mohammed Bin Rashid Al Maktoum,
Ruler
IN THE SMALL CLAIMS
TRIBUNAL
BEFORE SCT
JUDGE
BETWEEN
LUDHAN BANK (PJSC)
Claimant
and
LIONE
Defendant
| Hearing | : 20 April 2020 |
|---|---|
| Judgment | : 23 April 2020 |
JUDGMENT OF SCT JUDGE MAHA AL MEHAIRI
UPONthe Claim Form being filed on 25 February 2020
AND UPONthe Defendant filing
AND UPONthe parties being called on 12 March 2020 for a Consultation with SCT Judge
AND UPONa Hearing having been held before SCT Maha Al Mehairi on 20 April 2020, with the Claimant’s representative and the Defendant attending via teleconference
AND UPONreviewing the documents and evidence submitted in the Court
IT IS HEREBY ORDERED THAT:
1. The Defendant shall pay the Claimant AED 57,833.27 in respect of the unpaid loan.
2. In addition, pursuant to DIFC Courts
3. The Defendant shall pay the Claimant the Court Fee in the sum of AED 2,891.65.
Issued by:
Ayesha Bin Kalban
SCT Judge and
Deputy Registrar
Date of issue: 23 April 2020
At: 11am
THE REASONS
Parties
1. The Claimant is Ludhan Bank (), a bank providing financial products and services including personal loans to customers (the “Claimant”).
2. The Defendant is Lione, a customer of the Claimant (the “Defendant”).
Background
3. The parties entered into a written agreement on 9 September 2014, entitled ‘Ludhan Smart Loan, Credit Card Application Form’ (the “Agreement”). Under the terms of the Agreement, the Claimant received a loan of AED 254,000 on 30 July 2015 (the “Loan”), to be repaid in 48 monthly installments of AED 6,195.
4. The Defendant made regular repayments of the Loan until 25 December 2018, after which time he fell into arrears. At the time of filing the Claim, the remaining amount currently outstanding against the Loan was AED 57,833.27.
5. Following the Defendant’s failure to keep up with his repayments, the Claimant filed a claim to recover the outstanding sum on 25 February 2020 (the “Claim”).
6. Although the Defendant indicated his intention to defend all of the Claim, no defence was submitted.
7. On 20 April 2020, at a hearing listed before me, I heard submissions from the Claimant’s representative and the Defendant was absent.
Discussion
8. In its written submissions and in the Hearing, the Claimant relied on the terms of the Agreement, under which the Claimant approved the sale of a Loan to the Defendant in the sum of AED 254,000, which was to be repaid in 48 equal instalments. The Claimant confirmed that it sought repayment of the outstanding amounts of the Loan, which, at the time, amounted to AED 57,833.27, and recovery of costs.
9. In the hearing the Defendant did not object to the amount claimed and has stated that due to his employment situation he is facing difficulties repaying the amount.
Finding
10. This is a very straightforward matter and in the absence of any defence being put forward, I am satisfied that there was a valid and binding Agreement between the parties and that the Claimant is owed a total of AED 57,833.27, being the sum of the outstanding Loan borrowed by the Defendant.
11. The Claimant confirmed that interest had already been factored into the value of the claimed amount.
12. In addition, pursuant to DIFC Courts Practice Direction 4 of 2017 the Defendant shall pay interest on the judgment sum to the Claimant from the date of this judgment, until the date of full payment, at the rate of 9% annually.
13. Each party shall bear its own costs.
Issued by:
Ayesha Bin Kalban
SCT Judge and Deputy Registrar
Date of issue: 23 April 2020
At: 11am