The total value of enforcement claims brought before the Dubai International Financial Centre (DIFC) Courts reached AED 10.2 billion ($2.78 billion) in 2018, an 197 percent increase over the year before, DIFC Courts announced on Wednesday.
According to statistics released by DIFC Courts, a total of 670 cases were handled across all its divisions, representing a 29 percent year-on-year increase.
The overall value of claims saw an increase of 422 percent over the same period, while the total volume of cases brought before the main court of first instance (CFI) rose 50 percent year-on-year.
There was also a significant increase of 60 percent in the number of opt-in cases handled in the CFI, originating from parties electing to use the DIFC Courts to resolve their disputes.
The small claims tribunal (SCT), for its part, saw its caseload increase 10 percent to 399 cases, compared to 363 cases in 2018. DIFC Courts said that the increase was primarily driven by breach of contract cases, which amounted for 43 percent of the total.
Labour and employment cases accounted for another 27 percent of the SCT’s total caseload. Overall, the total volume of claims went up 47 percent in 2018, rising from AED 36.2 million ($9.86 million) to AED 53.3 million ($14.51 million).
“The DIFC Courts experienced substantial growth in 2018, in both the volume and value of claims brought to the courts,” said Zaki Bin Azmi, DIFC Courts chief justice. “These results reflect the confidence in the DIFC Courts and are testament to the Courts as a jurisdiction of choice in the Middle East and to our creation of an environment which businesses both domestically and internationally can trust.”
Bin Azmi added that in 2019 DIFC Courts plans to “continue to reinforce this certainty and predictability to deliver a comprehensive suite of public services for the good of the communities we serve.”For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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