Monday, 26 September 2011

Claims on Nakheel may not go to Dubai special court - Arab News

A special tribunal set up to hear disputes over Dubai World’s debt restructuring may not hear cases against former unit Nakheel after the government took over the troubled property developer in August.

A directive released by the special tribunal said: “Issues as to the jurisdiction of the tribunal may arise in proceedings brought by or against Nakheel and those of its subsidiaries and affiliated that have ceased to be subsidiaries of Dubai World.”

The directive, issued recently by the tribunal’s chairman Sir Anthony Evans, said the court would continue to exercise jurisdiction in proceedings that commenced before Aug. 23.

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