Dubai dissolves Tribunal set up to oversee financial settlements linked to Dubai World, its subsidiaries
Tribunal will however continue to review all pending cases during transition period
Dubai: A tribunal set up by Dubai to oversee claims and disputes related to Dubai World and its subsidiaries has been dissolved. This was done through a decree issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
According to the Decree, the Tribunal - formed pursuant to Decree No. (57) of 2009 - will be dissolved, and all cases and claims, related to the financial settlement of Dubai World and its subsidiaries, filed after this Decree comes into effect, will be referred to specialised courts.
The new Decree will allow the Tribunal to continue to review all pending cases and claims during a transition period. All cases and requests that have not been resolved by a final judgment before December 13, 2022 will be referred to specialised courts, in line with judicial legislations in Dubai, without any new fees being charged.
This Decree annuls any other legislation that may contradict it. The Decree is effective from the date of its publication in the Official Gazette.