BONDHOLDERS (138) OF THE BONDS (Listed in Annex 1 and Annex 2 to this Judgment) v (1) LIMITED LIABILITY PARTNERSHIP NEF QAZAQSTAN (2) TIMUR GAYRIMENKUL GELIȘTIRME YAPI VE YATIRIM A.S.

The Court had previously entered judgment in favour of the Claimants and issued execution orders for a significant judgment debt against the First Defendant. The Claimants later assigned the judgment debt to NEF & RAM LLP, which paid the full amount, and applied for substitution as the new judgment creditor. The Court held that the judgment debt was assignable property under AIFC law, rejected the First Defendant’s objections, and ordered substitution of NEF & RAM with new execution orders in its favour. Download PDF