Abu Dhabi
Logo
 

Abu Dhabi court settles Dh52 million dispute in 12 days

Ismail Sebugwaawo /Abu Dhabi
Filed on October 28, 2019 | Last updated on October 28, 2019 at 04.11 pm
Abu Dhabi, court, settlement, Dh52 million, dispute, 12 days, sale contract, warring parties
Since its launch in September this year, the new commercial court has issued 1,500 decisions.- Alamy Image

Previously, a dispute of a similar nature would take an average of eight sessions, spanning over 180 days.

In a landmark case, the newly set-up Abu Dhabi Commercial Court settled a dispute, involving Dh52 million ($15 million) between an international firm and an Abu Dhabi bank, in only 12 days. The row was related to implementation of a sale contract between the two warring parties.

Previously, a dispute of a similar nature would take an average of eight sessions, spanning over 180 days.

The commercial court was established by the Abu Dhabi Judicial Department last month to speed up legal procedures and enhance commercial activity in Abu Dhabi.

Chancellor Yousuf Saeed Al Abri, undersecretary of the Abu Dhabi Judicial Department, said prompt settlement of disputes is one of the most important objectives of the judicial department.

"The verdict in this case is a positive indicator that the emirate of Abu Dhabi provides a highly attractive environment for investment," said Al Abri.

Since its launch in September this year, the new commercial court has issued 1,500 decisions. It has also settled over 420 orders for payment within a week.

The jurisdiction of the court covers all business cases, including disputes between civil and commercial matters.

In 2019, Abu Dhabi was ranked eighth globally and first regionally on the contract enforcement index, which measures the effectiveness of the judicial system in adjudicating commercial disputes.

The Abu Dhabi Judicial Department pointed out that it will continue to strive to provide a modern and efficient judicial platform for the settlement of commercial disputes through the use of the best international practices in litigation.

ismail@khaleejtimes.com

 

Ismail Sebugwaawo


ERROR: Macro /ads/dfp-ad-article-new is missing!
MORE FROM UAE
MORE FROM Khaleej Times
CurrentRequestUnmodified: /nation/abu-dhabi/brothers-created-solar-robot-after-they-saw-dad-paying-hefty-power-bills macro_action: article, macro_profile: , macro_adspot:
 
 
 
 
 
KT App Download
khaleejtimes app

All new KT app
is available
for download:

khaleejtimes - android khaleejtimes - ios