The Director General to HH The Ruler’s Court has issued a notice dated 16 June 2019 to the Dubai Courts in respect of claims issued by or against Meydan City Corporation (Meydan), its subsidiaries or affiliates (the Notice).
The Notice stays the hearings of all claims and lawsuits filed before the Dubai Courts against or by Meydan, its subsidiaries or affiliates in respect of real properties developments, and any commercial claims relating to those developments. It also stays the execution of judgments and decisions in respect of those claims, and the execution of any precautionary attachments imposed on assets of Meydan, its subsidiaries or affiliates.
The Notice has been issued in anticipation of the establishment of a special judicial committee, which will be established by way of a Decree to hear all disputes involving Meydan, its subsidiaries or affiliates. To date, no Decree has been published, although we understand this is expected to be issued within the next few months.
The Dubai Courts are already enforcing the Notice, with the Court of Cassation recently suspending a case pending the decision to form a special judicial committee in relation to Meydan.
Whilst limited information has been provided in relation to the special judicial committee, comparisons will inevitably be drawn to the committee established last year to consider disputes involving Dubai Holding LLC and Dubai Land LLC, as well as the committee formed in relation to Dubai World Corporation in 2009.
Meydan City Corporation
Meydan City Corporation is a government-owned entity established by Dubai Law No. 5/2009. It was established to oversee the establishment and management of Meydan City, a free zone intended to be a prime destination for new businesses, horseracing and equestrian events.
Projects currently underway within the Meydan City free zone include Meydan One and MBR City District One.
