The Dubai Court of Cassation has made a final judgment in favour of Daman Real Estate Capital Partners (Daman Recap) in the case against Dubai-based contracting firm, Oger Dubai related to the Burj Daman project in the Dubai International Financial Centre.
The judgment puts an end to long standing litigation, pursued by the Oger Dubai, which protects the rights homeowners in the DIFC project, Daman Recap said on Sunday.
“This final judgment should now clear all encumbrances placed upon the assets of Burj Daman, and will allow all affected owners in Burj Daman to finalise their title deeds,” according to the company. “Daman Recap is satisfied that its faith in the UAE’s judicial system has been rewarded …. to protect the rights of hundreds of homeowners in the project.”
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[ Dubai Courts dismisses Oger arbitration against Daman Recap ]
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Daman Recap, a special-purpose vehicle set up to oversee the development of the 3.2 million square foot project in the emirates onshore financial hub, had dismissed Oger in 2012 for non-performance of its contract citing “culpable delay” in completing the scheme.
Oger Dubai brought an arbitration against Daman Recap following its dismissal and brought a case against Daman Recap - based in DIFC - before the free zone's courts, demanding enforcement of the arbitral award. Daman Recap at the same time appealed to have the arbitral award annulled in the Dubai Courts.
The Dubai Court of Appeals in December last year also ruled in favour of Daman Recap, overturning the earlier arbitral award, however, Oger then chose to appeal against the decision at the Dubai Court of Cassation, which has now issued the final Judgement.