Decree No. (20) of 2022

Dissolving the Special Tribunal Formed to

Determine the Disputes Related to Settlement of the

Financial Position of Dubai World and its Subsidiaries[1]

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We, Mohammed bin Rashid Al Maktoum, Ruler of Dubai,

 

After perusal of:

Law No. (12) of 2004 Concerning the Dubai International Financial Centre Courts and its amendments;

Law No. (13) of 2016 Concerning the Judicial Authorities in the Emirate of Dubai and its amendments;

Law No. (5) of 2021 Concerning the Dubai International Financial Centre; and

Decree No. (57) of 2009 Forming a Special Tribunal to Determine the Disputes Related to Settlement of the Financial Position of Dubai World and its Subsidiaries and its amendments,

Do hereby issue this Decree.

Dissolution of the Tribunal

Article (1)

a.    Pursuant to this Decree, the Tribunal formed pursuant to the above-mentioned Decree No. (57) of 2009 is dissolved.

b.    As of the effective date of this Decree, any claims or applications related to the settlement of the financial position of Dubai World and its subsidiaries will be filed and registered with the competent courts.

Pending Claims and Applications

Article (2)

a.    Notwithstanding the provisions of paragraph (a) of Article (1) of this Decree, the Tribunal will continue considering the claims and applications being heard by it by the effective date of this Decree. However, the Tribunal must determine these claims and applications before 13 December 2022.

b.    All claims and applications in respect of which no definitive judgement is issued within the time frame referred to in paragraph (a) of this Article will be referred, without charging any additional fees, to the competent courts in accordance with the rules of jurisdiction stipulated in the legislation in force in the Emirate of Dubai.

 

Repeals

Article (3)

Any provision in any other legislation is hereby repealed to the extent that it contradicts the provisions of this Decree.

Publication and Commencement

Article (4)

This Decree will be published in the Official Gazette and will come into force on the day on which it is published.

Mohammed bin Rashid Al Maktoum

Ruler of Dubai

 

Issued in Dubai on 9 May 2022

Corresponding to 8 Shawwal 1443 A.H.

 



2022 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 will prevail.