DIFC Courts sustains growth in H1
dubai — Dubai’s DIFC Courts witnessed sustained growth in the first six months of 2017, with the workload of the main Court of First Instance (CFI), including arbitrationrelated cases and counter claims, increasing by 57 per cent from the first half of 2016.
The total value of cases in the first half of the year increased to Dh7.5 billion, a 118 per cent increase over the same period last year, although this figure was impacted by a particularly large arbitration case. The underlying trend for case values showed stable year-on-year growth.
The ongoing growth of CFI case volumes and values underscores the DIFC Courts’ maturity and position in the regional and international
Healthy growth in the main court cements our preferred status for resolving the biggest corporate disputes Mark Beer, OBE, co-chief executive and registrar general of the DIFC Courts
judicial landscape. This was further supported by a report from law firm Clyde & Co earlier this year that found between 20152017, where litigation was the preferred option for its regional clients, the DIFC Courts were chosen in 76 per cent of contracts dealing with mergers and acquisitions, making it the preferred Court system for handling such transactions. The period was notable for the first enforcement of a United States court judgment, affirming the international connectivity of the DIFC Courts. They also further extended their international enforcement framework with the signing of a cooperation agreement with the Federal Court of Malaysia.
The performance of the region’s first Small Claims Tribunal was par- ticularly noteworthy in the first six months of 2017, as its case load increased by 90 per cent to 150, driven by greater awareness, the innovative use of technology, and new partnerships opening access to companies in free zones such as Dubai Multi Commodities Centre.
— business@khaleejtimes.com