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Sunday, 5 February 2017

Setback for DIFC Courts as a ‘conduit jurisdiction’ | The National

Setback for DIFC Courts as a ‘conduit jurisdiction’ | The National:

"The status of the DIFC Courts as a "conduit jurisdiction" for the upholding of judgements and arbitration awards made outside the free zone has suffered a setback following a judgement from Dubai’s newly established Judicial Tribunal for the Dubai Courts and DIFC Courts.

The Judicial Tribunal, in what appears to be its first decision since its formation in June 2016, has ordered the DIFC Courts to "cease from entertaining" a case being heard between Oger LLC and Daman Real Estate Capital Partners Limited.

Oger originally filed a claim with the DIFC Courts in August 2015 seeking recognition and enforcement of a Dh965 million arbitration award made by the Dubai International Arbitration Centre in its favour against Daman Real Estate, a DIFC-based company."

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