Dubai suspends legal claims against state-owned developer | Financial Times:
Dubai has stayed all legal claims against Meydan, a government-owned developer facing a wave of litigation, in a response to growing financial distress in the Middle East’s commercial capital.
In June, the government ordered Dubai courts to suspend claims against Meydan City Corporation, its subsidiaries and affiliates, pending the formation of a special judicial committee, according to a copy of the directive seen by the Financial Times.
A government official said the committee would be finalised over the next week to adjudicate all cases against Meydan, which is developing land around Dubai’s 60,000-capacity racecourse grandstand, host to the world’s richest horse race.
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