Dubai’s troubled developer Nakheel has won the right to reclaim funds from one of its contractors in spite of failing to agree on how much money it owes its builder after cancelling one of its projects in 2008.
In its first victory at a tribunal hearing disputes relating to Nakheel’s parent, Dubai World, Justice Sir John Chadwick, member of the Dubai World Tribunal, dismissed an attempt by Gammon & Billimoria, an Indian contractor, to stop the developer’s demand last month for repayment of Dh32m ($8.7m) in advances.
In recent months, Nakheel has lost several hearings, twice having attempts to recover funds from contractors blocked.
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