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legislation is hereby repealed to the extent that it contradicts the provisions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