Nakheel in tribunal win over 'The World' contractor

peter

penguin should call nakheel that they need to be reasonable and write off 85% of the money. it's just fair, nakheel handles their debts the same way!!!

Sam from Canada

Nakheel does not deserve a dime as no marine services could have been provided cos Nakheel screwed up and did not perform. So, Penguin has the right to respond in kind.

Judgement is neither just nor fair by any measure.

obaid

This is so funny (not for Penguin off-course).

Sam

Its tragic, not funny. Its also injustice and non-performance (by Nakheel).

Red Snappa

Presumably this was a watertight contract with no real get out or sanity clause, so I assume Penguin are paying two years' back license fees, but does this mean all fees are cancelled from here on in. The Dubai World Tribunal is generally pretty evenhanded in its deliberations.

The truth of the matter is, little has happened on The World for a while now, a flurry of activity in Kleindiensts 'Heart of Europe' multi-island cluster then litigation, some beach club development on 'Lebanon,' but nobody else really building. So I suppose that small amount of activity, plus raw island upkeep, was enough to justify that the Penguin agreement should still be in place?



Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Features & Analysis
Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Qatar's labour requirements

Qatar's labour requirements

Qatar’s Supreme committee has published worker welfare standards...

2
$40bn housing deal may signal Gulf investment push into Egypt

$40bn housing deal may signal Gulf investment push into Egypt

Egypt's economy is recovering only slowly from the turmoil that...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew