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DIFC Courts records a 25 per cent increase in cases from SMEs

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The main Court of First Instance (CFI), including arbitration-related cases and counterclaims, continued to provide business certainty, with the total value of cases recorded as AED 2 billion.

Monday 26, August 2019 BY KUDAKWASHE MUZORIWA

The Dubai International Financial Centre (DIFC) Courts said that the English-language, common law courts continue to assist global businesses resolve their largest and most complex disputes while proving a forum for settling the smaller claims of corporations, SMEs and individuals.

Amna Al Owais, the Chief Registrar at DIFC Courts, said that effective commercial courts are essential enablers for local companies to thrive and have become major points of difference within the region in the race for global investment.

The DIFC Courts stated that signalling strong public confidence, the total volume of cases across all divisions for the first six months of 2019 was 463, a 25 per cent increase from the first half of 2018.

The court also saw a significant increase in the number of enforcement cases, indicating the assurance businesses have in the DIFC Courts to collect on money judgments. Additionally, the total caseload of enforcement claims filed witnessed a 16 per cent increase from H1 2018, with a total of 101, rising from 87 in the same period last year.

The growth in the number of cases was driven by greater awareness campaigns through local strategic partnerships, including a cooperation agreement with Dubai Healthcare City Authority (DHCA) and the launch of the Special Complaints Reffereal Centre.

Additionally, DIFC Courts added that reinforcing the Smart SCT’s increasing appeal to individuals and SMEs, the total value of claims increased by 23 per cent in H1 2019, rising from AED 30.6 million to AED 37.5 million.

In July 2019, the DIFC Courts announced changes to the rules of wills registrations, which will now accommodate all resident and investor assets across the Emirates, as well as assets held outside the UAE.

In H1 2019, 549 wills registered at the DIFC Courts, bringing the total to over 5,160, with more than 85 lawyers representing more than 80 law firms based in the UAE and overseas.

 

TAGS : DIFC Courts, English-language courts, SMEs, Smart SCT, arbitration, counterclaims

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