THE Mohammed Bin Rashid Forms Judicial Panel on Amlak, Tamweel
H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai, today issued a new decree setting up a special judicial panel on the disputes related to Amlak Finance PJSC and Tamweel P.J.S.C.
The new panel guarantees full protection of the rights of creditors of the two companies and their subsidiaries.
The new decree appoints the panel as the sole and only authorized judicial body in Dubai to consider applications and legal claims connected with the settlement of the financial position of the two said companies, including those which have been already filed at courts of law, before the issuance of this new decree, and those which could be referred to the panel for judicial settlement.
The decree appoints judge Mohammed Khamis Basyouni as chairman of the panel, judge Jihad Mohammed Khasawneh as member and judge Abdullateef Mohammed Al-Ulama as member.
The panel shall issue its orders and decisions in the name of H.H Ruler of Dubai.
The panel’s orders and decisions are considered final and incontestable.
The new decree goes into immediate effect and is to be published in the official gazette.