2017 Annual Report of DIFC (Dubai International Financial Center) Courts

DIFC Courts is an English-language common law jurisdiction in UAE. They deal with cases and claims arising out of the DIFC and its operations, and any other claims in which the parties agreed to their jurisdiction.

According to the report, more than 60% of   businesses in the region chose DIFC as the seat of arbitration. The use of arbitration remains predominant (85%). The use of DIFC-LCIA reached 75%. In 2017 DIFC handled 11 arbitration cases and 54 cases as Court of First Instance with an overage value of AED 24,425,369.

The DIFC saw an increase of 300% in the number of requests for arbitration and mediation (this year their number amounts to 58 requests).

In 2017 DIFC also issued a direction of indemnity costs for failed challenges to arbitral awards in the DIFC Courts.

2018-06-27T06:51:15+00:00 March 31st, 2018|News|0 Comments

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