Wednesday 11 April 2012

Transparency key to public interest in Drydocks tribunal - The National

The Dubai International Financial Centre and the legal apparatus at its core face a tricky few weeks in weighing up the Drydocks World situation.

The focus will be on the three-man tribunal that will judge the application by the firm, a part of the Dubai World conglomerate, seeking protection from creditors under the emirate's provisions for insolvency, as set out in Decree 57 by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.

It is in the interest of Dubai and its business community that the tribunal give the situation its fullest and most transparent consideration.

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