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Sunday, 25 June 2017

Dubai Courts; DIFC Courts; arbitration; | The National

Dubai Courts; DIFC Courts; arbitration; | The National:

"The ability of creditors to enforce foreign arbitration awards against Dubai-based debtors has suffered a potential blow, following a decision by the Judicial Tribunal for the Dubai Courts and DIFC Courts that has given precedence to UAE-based courts.

The tribunal has blocked the DIFC’s courts from recognising and enforcing a London-based arbitration decision, giving precedence to an action being conducted in parallel in a dispute resolution centre of the Dubai Courts.

Following the country’s signature of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (also known as the New York Convention) in 2006, UAE courts are obliged to automatically recognise and enforce international arbitration awards without re-examining the merits of the individual awards."

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