Dubai International Financial Centre Courts grew its annual caseload by 29 per cent to 670 cases totalling Dh20 billion in 2018, as the free zone judiciary forges new partnerships with global courts and other bodies.
The value of cases heard across all divisions rose by 422 per cent year-on-year to Dh20.5bn, DIFC Courts said in its annual report on Wednesday.
This includes cases heard in the main Court of First Instance (CFI), as well as arbitration cases, enforcement cases and those heard in the Small Claims Tribunal (SCT), which handles cases with a value of Dh1 million or below. The sharp increase was driven primarily by two high-profile transnational CFI disputes the report does not detail. In 2018, DIFC Courts settled Russian oligarch Farkhad Akhmedov’s divorce case which involved a Dh1.8bn superyacht.
“The DIFC Courts experienced substantial growth in 2018, in both the volume and value of claims,” said DIFC Courts’ chief justice Zaki Bin Azmi.
“These results are testament to the courts being a jurisdiction of choice in the Middle East, an environment in which domestic and international businesses can trust, and one in which contracts can be enforced and disputes resolved fairly and swiftly.”
The total volume of CFI cases heard by DIFC Courts in 2018 grew by 50 per cent year-on-year, “signalling strong business confidence in the English language common law courts”, the report said.
The total value of CFI cases, which also includes arbitration-related cases, reached Dh10.3bn, up from Dh400m in 2017.
The CFI cases covered sectors including banking and finance, construction, real estate and manufacturing, with disputes ranging from breach of contract, outstanding payments, wills and probate, and employment matters.
There was also a rise in the number of “opt-in” cases last year, the report said, with 60 per cent of CFI claims originating from parties bringing overseas cases to DIFC Courts to resolve their disputes.
The total value of enforcement claims reached Dh10.2bn – an increase of 197 per cent year-on-year. The number of enforcement cases increased by 101 per cent to 185.
Meanwhile, the SCT also grew its caseload, by 10 per cent to 399 claims - the value of which grew 47 per cent year-on-year to Dh53.3m. Growth was driven primarily by breach of contract cases, which accounted for 43 per cent of the total, followed by labour and employment, with 27 per cent.
In 2018, DIFC Courts entered into a partnership with the Hong Kong High Court to streamline cases and collection of money judgments in Dubai and Hong Kong. It also signed a pledge with the UK’s University of Oxford China Centre to pool expertise on contract enforcement and other legal matters for investors in China’s $5 trillion Belt and Road initiative, among other partnerships.
The goal for 2019, said Mr Bin Azmi, is to reinforce business confidence in DIFC Courts, and “deliver a comprehensive suite of public services for the good of the communities we serve”.
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
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UAE currency: the story behind the money in your pockets
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
UAE currency: the story behind the money in your pockets
If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
How Islam's view of posthumous transplant surgery changed
Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.
Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.
The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.
One school of thought viewed the removal of organs after death as equally impermissible.
That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.
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