The Dubai International Arbitration Centre (“DIAC“) and the London Court of International Arbitration (“LCIA“) have announced in a joint press release that the LCIA will administer all existing cases under the DIFC-LCIA Rules from London.
The announcement follows Decree No. 34 of 2021 (the “Decree“) concerning the Dubai International Arbitration Centre. The Decree had the effect of dissolving the Dubai International Financial Centre Arbitration Institute (“DAI“), the DIFC entity that operated the DIFC-LCIA Arbitration Centre (“DIFC-LCIA“) in a joint venture arrangement with the LCIA and transferred the assets, rights and obligations of those centres to DIAC…
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