Mohammed Bin Rashid issues decree on Dubai World and its subsidiaries

Gulf Today, Staff Reporter

In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Decree No. (20) of 2022 dissolving the ‘Tribunal to Decide the Disputes Related to the Settlement of the Financial Position of Dubai World and its Subsidiaries’.

According to the decree, the tribunal formed pursuant to Decree No. (57) of 2009 will be dissolved, and all cases and claims, related to the financial settlement of Dubai World and its subsidiaries, filed after this decree comes into effect, will be referred to specialised courts.

The new decree states that the tribunal will continue to review all pending cases and claims during a transition period. All cases and requests that have not been resolved by a final judgment before 13 December 2022 will be referred to specialised courts, in line with judicial legislations in Dubai, without any new fees being charged.

This decree annuls any other legislation that may contradict it. The decree is effective from the date of its publication in the Official Gazette.