The Government of Dubai Legal Affairs Department has issued a legal interpretation clarifying which is the appropriate judicial body authorised to hear cases involving Nakheel PJSC and its subsidiaries, following Nakheel's separation from Dubai World which took place on 23 August 2011.
Pursuant to its establishing law, No. 32 of 2008, the Legal Affairs Department is responsible for issuing legal interpretations with respect to local legislation applicable to the emirate of Dubai.
The Legal Affairs Department advised that the Dubai World Special Tribunal, which was established by His Highness the Ruler of Dubai pursuant to Decree No. 57 of 2009 (as amended), to decide the disputes relating to the financial position of Dubai World and its subsidiaries, had previously been the appropriate forum to hear such cases.
No comments:
Post a Comment