Dubai flexes legal muscles as financial court system grows | GulfNews.com:
"A landmark ruling by the court system in Dubai’s financial free zone suggests the emirate is starting to influence the way international business disputes are resolved in the Middle East, partly taking over that role from London and New York.
Last month a court in the Dubai International Financial Centre (DIFC) found Switzerland’s Bank Sarasin had mis-sold $200 million (Dh734 million) of investment products to Kuwait’s prominent Khorafi family, ordering it to pay compensation.
Sarasin, which denied any wrongdoing, may appeal the ruling, and the amount of compensation hasn’t yet been fixed. But it was a startling judgement by a court system that has been operating only since 2006."
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