ALBM Excello Law Clients Among Creditors Granted Priority On Legal Costs As Cayman Court Orders AIX Into Liquidation

(MENAFN- Mid-East Info) Dubai, UAE; October 31, 2026: The Grand Court of the Cayman Islands has placed AIX Secure SPV Ltd into official liquidation and ordered that the legal costs of the investors who brought and supported the petition, including clients of ALBM Excello Law, be paid as a priority expense. Justice David Doyle made the order on 30 October 2026 after dismissing the company's application to adjourn the hearing so it could pursue its own restructuring proposal. Borderless Finance. AI-Native.

Your digital companion for smarter everyday choices. Built for how you live, earn, and grow. Move money at your pace with AI-powered finance, all in one tap.

Join the waiting list. Earn

AIX Secure SPV is the Cayman-registered issuer of fixed-income notes linked to AIX Investment Group. The petition was brought by an investor and supported by a group of creditors, including ALBM Excello Law's clients, represented by Barrister Sebastian Gollins of KSG Attorneys. The order authorises the liquidators to bring proceedings in the DIFC Courts and the onshore Dubai courts; to take over existing DIFC claims against the company; and to seek recognition of their appointment in the UAE, the United Kingdom and Switzerland.

The ALBM Excello team included Sujith Mathew and Richard Imran Ding and Fraser Griffiths from Excello Law UK. The firm advises creditors and investors on international insolvency, from supporting winding-up petitions in offshore jurisdictions to tracing and recovering assets through the UAE courts.

Sujith Mathew, Partner at ALBM Excello Law, said:“The court dismissed AIX's request for more time and ordered the company into liquidation. Control of AIX Secure SPV has passed from its director to the joint official liquidators appointed by the court. The liquidators will take charge of the company's records and assets, investigate its affairs and pursue any claims that can recover money for creditors.”

The court ordered that the costs of the petitioner and supporting creditors be paid out of the company's assets as a priority expense of the liquidation, assessed on the indemnity basis if they cannot be agreed with the liquidators.“The legal costs of the petitioner and every supporting creditor, including our clients, will be paid from the company's assets after the liquidators' own costs and before the claims of ordinary unsecured creditors,” the ALBM Excello team added.

“Many AIX investors live and invested in the UAE, and the UAE courts will be central to tracing and recovering assets,” the team said.“The DIFC Courts and the Dubai courts give the liquidators a strong, established route to act here, and we expect them to use it quickly.” ALBM Excello Law is registered with the DIFC Courts and has full advocacy rights before the UAE Civil Courts.

“Every AIX noteholder should prepare a proof of debt now, with their contracts, transfer records and payment history, and file it as soon as the liquidators call for claims,” Mathew said.“Investors should attend the first creditors' meeting and consider standing for the liquidation committee, which oversees the liquidators' strategy, investigations and costs.”

-ENDS-

About ALBM Excello Law

Based in Dubai, Abdelaziz Al Blooshi Advocates and Legal Consultants LLC (in Association with Excello Law UK), is a leading law firm with full advocacy rights before the UAE Civil Courts whose proceedings are in Arabic. The firm is also registered with the DIFC Courts and can act for clients before the common-law courts of the Dubai International Financial Centre, where proceedings are in English. Clients can take a matter through the onshore Arabic-language courts and the DIFC Courts with a single legal team.

The ALBM Excello Law team brings together decades of international and local experience across corporate, commercial, and regulatory law. From high-stakes M&A deals to complex cross-border structuring, international insolvency and dispute resolution, we deliver sharp, practical solutions that help clients thrive. With deep roots in the UAE and global expertise, we combine technical excellence with a commercial mindset - making us trusted advisors to businesses, investors, and individuals alike.

For more information, please contact:

Thomas Jacob

Director - Media & Growth

Katalyst Consultancy LLC

Dubai, UAE

Mobile +971 50 784 9695

...

Or

Mr. Sujith Mathew

Partner at ALBM Excello Law

Dubai, UAE

...

MENAFN31102026005446012082ID1111896221