High Court in London Confirms CMS/LAIP Stay of Enforcement
At hearings which took place in London last week, the English High Court confirmed that CMS cannot enforce its US$ 15 million summary judgment pending determination of LAIP's application for permission to appeal and the substantive appeal (if permission is granted), which are both due to be heard in London in May of this year.
Floriana, Malta, January 21, 2016 (Newswire.com) - The stay of enforcement is in recognition of the fact that payment has been made into court on behalf of LAIP as security for the appeal and it means that CMS’ attempts to enforce the summary judgment in England and in Malta at this time shall have to stop.
LAIP denies that any outstanding sums are due to CMS in respect of work done in 2009/2010 and therefore that the summary judgment in relation to alleged unpaid invoices ought to be overturned at the appeal. LAIP also denies that CMS is entitled to damages, and this further claim is set for trial in London not before 1 April 2017.
LAIP is delighted with the English Court`s confirmation that CMS cannot enforce the summary judgment pending the appeal hearing in May 2016.
Ahmed Kashadah, Managing Director
Commenting on the recent developments, Ahmed Kashadah, LAIP’s Managing Director, said. “LAIP is delighted with the English Court`s confirmation that CMS cannot enforce the summary judgment pending the appeal hearing in May 2016. Now that this important issue is resolved, LAIP is focussed on winning the appeal and thereafter defeating the entirety of these claims, which from the outset it has consistently said are without foundation or merit.”
Media office
21/01/2016
