DIFC Courts cases surge 45%; more than $844mln commercial claims | ZAWYA MENA Edition:
More and more businesses are resorting to the Dubai International Financial Centre (DIFC) Courts to settle conflicts, with the nearly 1,000 disputes filed last year and the value of commercial claims cases reaching more than 3.1 billion UAE dirhams ($844 million), new statistics revealed.
The total volume of complaints lodged across different divisions at the common law court went up by 43 percent in 2019 to 952.
The cases filed involved companies in the banking and finance sector, construction, real estate and manufacturing, as well as arbitration-related disputes, according to a report released on Wednesday by the DIFC Courts.
The judiciary, which started operations in 2006, deals with civil and commercial disputes occurring within the DIFC. It deals with different types of cases, ranging from sophisticated, international financial transactions to debt collection and labour disputes, and has the power to issue orders, which may be made concerning compensation and damages, among others.
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