Sep 23 2011 |
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40 Tamweel-related cases transferred to Dubai Real Estate Court
By Mohammed Al Sadafy Judicial Panel to hear all Amlak Finance casesHis Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a decree authorising Dubai Real Estate Court to rule on cases related to mortgage firm Tamweel and its subsidiares.
According to the decree, the Judicial Panel - which was formed earlier to adjudicate in disputes related to two mortgage firms, Tamweel and Amlak Finance - will no more give rulings on disputes related to Tamweel and would rather refer cases and disputes linked to the mortgage firm to Dubai Real Estate Court.
The decree confines the panel's rulings to Amlak Finance .
"The number of cases and disputes related to Amlak Finance looked at by the committee are about 45," Bassiouni told Emirates 24|7.
© Emirates 24|7 2011
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