Decree
No. (61) of 2009
Forming
a Special Tribunal to Determine the Disputes
Related
to Amlak Finance PJSC and Tamweel PJSC[1]
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We, Mohammed bin Rashid Al Maktoum, Ruler of
Dubai,
After
perusal of:
Law
No. (3) of 1992 Establishing Dubai Courts and
its amendments,
Do hereby issue this Decree.
A Special
Tribunal (the “Tribunal”) is hereby formed, and will be comprised of:
1. Judge Mohammed Khamis
Bassiouni, as president;
2. Judge Jihad Mohammed Khasawneh, as member;
and
3. Judge Abdullateef Mohammed Al-Ulama, as member.
The Tribunal will have jurisdiction to:
a. hear and determine all applications or
claims filed against:
1. Amlak Finance
PJSC, Tamweel PJSC, or any of their subsidiaries (this includes dissolution and
liquidation applications); and
2. any person involved in the settlement
of the financial position of Amlak Finance PJSC or Tamweel PJSC, including their chairmen, directors,
and employees; and
b.
issue interim
and interlocutory orders and awards. This includes obliging or prohibiting a
specific performance, or taking any other action the Tribunal deems fit.
The Tribunal may seek the assistance of
experts and specialists, as it deems appropriate, in respect of the matters referred to it.
Dubai Courts must not hear or determine any application or claim
that falls within the jurisdiction of the Tribunal as prescribed by this Decree. Dubai Courts must cease to hear the
applications and claims referred to it before
the effective date of this Decree, and must refer the same to the Tribunal.
The Tribunal will issue awards in the name of the Ruler of Dubai
unanimously or by majority vote of its members.
The awards issued by the Tribunal will be definitive, irrevocable,
and not appealable by any means. Tribunal awards will be enforced by the
Execution Department of Dubai Courts.
Subject to the provisions of this Decree, the Tribunal will
exercise its powers in accordance with:
1. the laws
in force in the Emirate of Dubai;
2. Islamic Sharia;
3. custom, unless it contradicts the law,
public order, or public morals; and
4.
principles of natural justice, fairness, and equity.
Article (7)
This Decree comes into force on the day on which it is issued, and
will be published in the Official Gazette.
Mohammed bin Rashid Al Maktoum
Ruler of Dubai
Issued in Dubai on 27 December 2009
Corresponding to 10 Muharram 1431 A.H.
©2015 The Supreme Legislation Committee in the Emirate of Dubai
[1]Every
effort has been made to produce an accurate and complete English version of
this legislation. However, for the purpose of its interpretation and application,
reference must be made to the original Arabic text. In case of conflict the
Arabic text shall prevail.