Dubai International Financial Centre (DIFC) Combines Litigation and Arbitration Bodies Under New Law.

By May 30, 2015October 7th, 2020Chang Law

The DIFC’s litigation and arbitration functions are to be consolidated under a new single dispute settlement body, pursuant to Law No. 7 of 2014 promulgated by Dubai’s ruler.  The full article can be accessed here.

The DIFC is a Dubai-based onshore financial center which provides a financial and legal “free zone”  for business and financial institutions who seek to invest and do business in the region under a stable platform. The DIFC creates a unique legal jurisdiction within the UAE that is based on the English common law system.

Included within the DIFC is a leading arbitral institution, the DIFC-LCIA, a partnership between the DIFC and the internationally-renowned London Court for International Arbitration. The DIFC-LCIA partnership is not expected to be affected by the consolidation under the new law.