Sunday 20 October 2019
 
»
 
»
Story

Abu Dhabi to set up new commercial court

ABU DHABI, September 14, 2019

Abu Dhabi government aims to establish a specialised court dealing with commercial law cases. 
 
The new 'Abu Dhabi Commercial Court' is being set up in bid to enhance the emirate's commercial competitiveness.
 
The announcement was made by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs, and Chairman of the Abu Dhabi Judicial Department.
 
The decision specifies the jurisdiction the Abu Dhabi Commercial Court to consider disputes and claims applying the UAE's Commercial Transactions Law, the Commercial Companies Law, the Commercial Agencies Law, the Emirates Securities and Commodities Authority and Market Law, the Copyright Protection Law and the Industrial Property Protection Law for Patents and Fee, as well as the Electronic Commerce and Transactions Law, Consumer Protection Law, Competition Regulation Law, Bankruptcy Law, Central Bank Law, Foreign Investment Law, Maritime Trade Law, and the Air Transport, Air and Space Law and Regulation.
 
The jurisdiction of the Court shall also include the consideration of all business cases, including disputes between civil and commercial matters, said the statement from Abu Dhabi Judicial Department. 
 
It shall also deal with disputes, arbitration, and appeals claims related to the execution of foreign judgements, orders and bonds when the subject is a commercial dispute, whether foreign courts or arbitral tribunals issue the judgments, it stated. 
 
Appellate chambers shall hear all appeals cases made courts of the first instance, as well as provisional and urgent actions, the statement added.
 
Commenting on the announcement, Counselor Youssef Sa'ead Al Ebri, the under-secretary of Abu Dhabi Judicial Department, said: "The UAE leadership seeks to create a legislative and judicial infrastructure regulating trade and investment in the country, in the interest of all parties under the umbrella of the rule of law, in line with international standards."
 
"The decision to establish the Abu Dhabi Commercial Court enhances the Emirate of Abu Dhabi's economic competitiveness," he added.
 
According to El Ebri, the newly formed Court -- which succeeds the Abu Dhabi Commercial Court of First Instance - will specialise in settling commercial disputes between litigants in the business community, guaranteeing rights and contributing to enhancing investor confidence.-TradeArabia News Service



Tags:

More Miscellaneous Stories

calendarCalendar of Events

Ads