Dubai, May 16th, 2012 (WAM)--The Government of Dubai Legal Affairs Department has issued a legal interpretation clarifying the appropriate judicial body to hear the cases of Nakheel PJSC and its subsidiaries, following Nakheels separation from Dubai World which took place on 23 August 2011.
"Pursuant to its establishing law, No. 32 of 2008, the Legal Affairs Department is responsible for issuing legal interpretations with respect to local legislation applicable to the emirate of Dubai", the Department said in a statement. The Legal Affairs Department advised that the Dubai World Special Tribunal, which was established by His Highness the Ruler of Dubai pursuant to Decree No. 57 of 2009 (as amended), to decide the disputes relating to the financial position of Dubai World and its subsidiaries, had previously been the appropriate forum to hear such cases. However, by virtue of the restructuring of Dubai World, which led to the separation of Nakheel and its subsidiaries, any cases involving Nakheel or any of its subsidiaries as a party will now come under the jurisdiction of the Dubai Courts or the alternative competent dispute resolution forum. It further elaborated that it became apparent that this legal interpretation was necessary in light of the numerous enquiries it had received requesting clarification on the appropriate forum in which to file cases involving Nakheel and its subsidiaries.
Copyright Emirates News Agency (WAM) 2012.
