There have been a number of negative reports in the press in the
last few weeks stating that a recent Dubai Court of Cassation
judgment nullifying a Dubai International Arbitration Centre (DIAC)
arbitration award will have far reaching implications and
jeopardise Dubai's position as an international arbitration
hub.
Clyde & Co does not share that view. We do not consider that
the judgment has any international bearing and it should not affect
Dubai's standing as a reputable arbitration centre.
Earlier this year, we reported that the Dubai Court of Cassation
had nullified three DIAC arbitral awards on the basis that those
awards ran contrary to public policy within the meaning of the
Civil Code (Federal Law No. 5 of 1985) and Civil Procedure Code.
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