Dubai International Financial Centre Courts Makes Waves

By Sam Willie

In a recent ruling from the Dubai International Financial Centre (DIFC) Courts, Switzerland's Bank Sarasin was found to have mis-sold $200 million of investment products to a prominent Kuwaiti family. An interesting article from Reuters posits that the ruling is representative of the DIFC Courts’ increasing presence within the international business sphere. The independent judicial system, established in 2006, handles disputes within Dubai and offers an alternative to courts outside the Middle East, like courts in London and New York. Reuters notes that the courts are entrepreneurial in nature and have cherry picked what they consider to be best business practices from a variety of legal systems in an attempt to create an attractive jurisdiction.