Abu Dhabi: The recently formed Commercial Court of the Abu Dhabi Judicial Department settled a dispute valued at Dh52 million ($15 million) in a record time of 12 days from the date the lawsuit was filed to the date of judgment.
The dispute was related to the implementation of a sale contract between an international holding company and a bank.
Historically, a dispute of this nature would be heard in an average of eight sessions over 180 days. However, since the formation of the Commercial Court less than two months ago, it has issued 1,500 judicial decisions and settled over 420 payment orders in one week, following the registration of the case, which confirms that the priority of the judiciary is to strengthen the enforcement of contracts.
Yousuf Saeed Alabri, Under-Secretary of the Judicial Department, said that running an efficient justice system and the prompt settlement of disputes are some of the most important objectives set by Shaikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Chairman of the Abu Dhabi Judicial Department.
Alabri added that this landmark case exemplifies how commercial matters are now being handled in Abu Dhabi, creating a highly attractive environment for investment.
In 2019, Abu Dhabi was ranked eighth globally and the first regionally in the contract enforcement index, which measures the effectiveness of the judicial system in adjudicating commercial disputes.
The Abu Dhabi Judicial Department continues to strive to provide a modern and efficient judicial platform to settle commercial disputes by using the best international practices in litigation.