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Centre of Amicable Settlements of Disputes resolve Dh614m worth of commercial dispute.

Dubai: The Dubai Court Department's (DCD) Centre for Amicable Settlements of Disputes (CASD) recently resolved a commercial dispute worth Dh614 million in less than 30 minutes.

"In a record-breaking time, the Centre successfully resolved the commercial dispute between two litigating parties in less than half an hour. The concerned arbitrator managed to draw the litigating parties' viewpoints close to each other. He also stressed to the parties the importance of resolving their Dh614 million-worth of commercial dispute amicably," said Mohammad Amine Mubasheri, CASD's Director.

The arbitrator talked the litigating parties in to an amicable settlement after they reached a reconciliation agreement in one session, according to Mubasheri.

"The CASD usually waives 50 per cent of the required fees when the litigating parties agree to resolve the dispute amicably. The Centre adopts this method to encourage the litigants to settle their disputes amicably," added Mubasheri.

The dispute is referred to the concerned court in case CASD has not resolved it amicably.

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Publication:Gulf News (United Arab Emirates)
Date:Oct 10, 2012
Words:176
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