DIAC decline-what's the deal?
Type
E-journal
Date
4 Feb 2014
Jurisdiction
Dubai, UK
Taxonomy
Arbitration
Copyright
LexisNexis
Analysis
Arbitration analysis: What's behind the reduction in the number of registered cases at the Dubai International Arbitration Centre (DIAC)? Clare Raven, a partner in the dispute resolution team at Hadef & Partners, says there are now fewer disputes in this market, particularly as Dubai has had a quick recovery from the crash and is now in the midst of a property boom.
Why do you think there has been a decline in the number of registered cases at the DIAC?
Aside from the local courts, the DIAC has, to date, been the dispute resolution forum of choice for litigants in Dubai. DIAC clauses have been written into contracts since the establishment and promotion of the Centre in 2007. The DIAC's predecessor was the Rules of Commercial Conciliation and Arbitration of the Dubai Chamber (known as DCCI), which was applicable to arbitration cases from 1994 to 2007.