Tuesday, October 19, 2021

Delving into the Dubai arbitration decree

Delving into the Dubai arbitration decree The effects of a royal decree abolishing two of Dubai’s arbitral institutions are mainly administra…

The effects of a royal decree abolishing two of Dubai’s arbitral institutions are mainly administrative in nature, and should not harm its status as an arbitration hub, according to practitioners on the ground.  The innocuous-sounding Dubai royal decree number 34 of 2021 has generated substantial attention in the arbitration world, taking many by surprise. Handed down by the ruler of Dubai, Mohammed bin Rashid Al Maktoum on 14 September and taking effect six days later, it abolished two major arbitral institutions – DIFC-LCIA Arbitration Centre, a joint venture between the Dubai International Financial Centre Arbitration Institute (DAI) and London Court of International Arbitration (LCIA) dealing principally with finance-related disputes and which had shown strong growth over the years, and the Emirates Maritime Arbitration Centre (EMAC) which focused on shipping-related arbitration.

Delving into the Dubai arbitration decree Global Legal Group

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