Dubai Courts dismisses Oger arbitration against Daman Recap - The National

Dubai Courts dismisses Oger arbitration against Daman Recap - The National:

"Daman Real Estate Capital Partners ( Daman Recap) has won a favourable judgment in the Dubai Courts of Appeal in its long-running dispute with contractor Oger Dubai, relating to the Burj Daman real estate project in the Dubai International Financial Centre (DIFC). Representatives of Daman Recap, a special purpose vehicle set up for the development of the 3.2 million square foot project, said the Court of Appeal declared null and void a Dh965 million arbitral award obtained by Oger against Daman Recap in Dubai International Arbitration Centre in 2015. Oger Dubai brought an arbitration against Daman Recap after it was dismissed as developer of the 65-storey development in 2012 for what the SPV describes as “non-performance of its contract citing “culpable delay” in completing the project.”"



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