A New Legal Framework For Nakheel, Limitless Claims

Law360, New York (January 12, 2010, 3:42 PM EST) -- Last week Sheikh Mohammed Bin Rashid Al Maktoum, Ruler of Dubai, issued Decree No. 57 for 2009 Establishing a Tribunal to decide the Disputes Related to the Settlement of the Financial Position of Dubai World and its Subsidiaries (the “Decree”).

The Decree establishes a tribunal (the “Tribunal”) comprising three members — Sir Anthony Evans, Michael Hwang and Sir John Chadwick — to hear and decide all demands and claims submitted against Dubai World and/or its subsidiaries including Nakheel PJSC and Limitless, and any of their directors...
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