Wednesday 25 January 2012

Ruling extends Dubai’s free zone jurisdiction - FT.com

A landmark appeal ruling has extended the jurisdiction of Dubai’s financial centre to companies that operate outside the free zone’s boundaries within the emirate.
The ruling could see banks and service providers registered in the Dubai International Financial Centre dragged into its courts for alleged transgressions carried out by entities that have so far operated outside the legal jurisdiction of the DIFC, in “onshore” Dubai.

“The ruling clarifies who can use the DIFC courts to resolve disputes,” says Mark Beer, the registrar at the courts.

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