The volume of cases across all divisions of Dubai International Financial Centre (DIFC) Courts in the UAE recorded a 10% increase in the first half (H1) of 2022, compared with the first six months of 2021.
The total value of claims across all divisions stood at AED 1.9 billion ($517 million).
In the main Court of First Instance (CFI), 44 cases were filed, with the total value of AED 1.87 billion and an average case value of AED 53.3 million, according to a statement from the financial services regulator.
Cases within the Arbitration Division under the CFI also recorded an increase in the first six months of 2022, with a total value of AED 1 billion and an average claim value of AED 130 million.
Claims brought before the CFI covered a range of sectors including banking and finance, real estate, manufacturing, retail, and hospitality, and involving disputes related to breach of contract, outstanding payments, Wills & Probate, and employment, the statement noted.
DIFC Courts envisages the replacement of outdated processes with end-to-end digital technology, ensuring court systems are smart, user-friendly and agile enough to keep pace with global commerce.
Justice Omar Al Mheiri, Director, DIFC Courts, said: "Encapsulated within a four-pillar mandate, the upgraded strategy outlines an ambitious drive for full digital transformation through advanced technologies to increase the efficiency of dispute resolution. A new hyperconnected judicial network will also be developed alongside cutting-edge legal procedures and specialised Rules for enhanced accessibility to court services.”
(Writing by Seban Scaria; editing by Brinda Darasha)