Judicial Committee formed to deal with Dubai World issues will no longer deal with Nakheel-related cases
All disputes related to Nakheel will be henceforth heard by the Real Estate court in Dubai, in accordance with the Decree No. 326 of 2011 issued by the Department of Legal Affairs, Government of Dubai.
The Judicial Committee that handles cases of Dubai World and its subsidiaries will no more look into Nakheel issues.
The decision is effective August 23 - the day Nakheel separated from Dubai World.
Dubai Courts has received a copy of the resolution.
Earlier, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, had issued Decree No. 57 of 2009, for the formation of a special judicial committee to settle disputes of Dubai World and its affiliates.
The main aim of the decree was to preserve the rights of creditors of Dubai World and its subsidiaries, and to ensure complete financial rights to institutions.
© Emirates 24|7 2011
