Dubai: The DIFC Courts took on cases with combined claims of Dh2.2 billion in the first six months of 2020, which included arbitration-related ones too.
Cases brought before the Court of First Instance covered banking and finance, construction, real estate and manufacturing and also involved disputes related to breach of contract, outstanding payments, insolvency, wills and probate, and employment. The number of cases before the CFI was up a dramatic 96 per cent during the period.
The DIFC Courts issued over 500 digital orders and judgments over the course of the first six months.
The average value of the cases before the courts was at Dh88.5 million, according to a statement issued by Dubai International Financial Centre Courts. Most interestingly, there was a sharp increase in number of “opt-in” cases, whereby 70 per cent of claims before the Court and arbitration-related cases was transferred to DIFC Courts to resolve the disputes.
“At a time when the UAE is now the largest recipient of foreign investment in the Middle East, confidence continues to grow in our legal framework, contributing to the overall value proposition of the DIFC, Dubai and the UAE, for investors and the international business community,” said Omar Al Muhairi, Deputy Chief Justice, DIFC Courts.
* The Small Claims Tribunal (SCT) oversaw 213 claims filed and with an overall claims value of Dh24 million. It also operates the region’s first 'Smart SCT' virtual court, and over 50 per cent of claims with it were registered as ‘opt-in’.
