TAHKEEM organises panel at Dubai Arbitration Week

  • Sunday 24, November 2019 02:12 PM
Sharjah 24: The Sharjah International Commercial Arbitration Center, known as TAHKEEM, recently organised a panel discussion, entitled “Emergency Arbitration, Interim Relief, and Enforcement: Practical Perspectives under UAE Law No (6) of 2018.” during Dubai Arbitration Week for the third time in a row.
Held in association with the Chartered Institute of Arbitrators (CIArb), the panel was part of TAHKEEM’s participation for the third straight time in Dubai Arbitration Week on November 20 at Waldorf Astoria Dubai International Financial Centre in the presence of Mr. Ahmed Saleh Alechla, Director of TAHKEEM and Mohamed Alshehhi, Member of TAHKEEM’s Executive Committee along with a number of international and local arbitrators and specialists.

Mr. Ahmed Saleh Alechla started the session with a presentation about TAHKEEM, which included the definition of the mechanisms used in dealing with the applied arbitration cases, and the quality of services provided by the Centre in line with modern international arbitration standards.

The session was wrapped up by spotlighting one of the specific features of the recent reviews in the world of institutional arbitration: the provision of emergency arbitrator proceedings. Emergency arbitration under the form of “emergency relief” is a new concept suitable for those who wish to protect their assets and evidence that may be altered or lost.

Nassif BouMalhab, Tahkeem’s Executive Committee member, was the moderator of the panel which saw the presence of notable speakers, including Dr Asma Alrasheed, Member of Tahkeem’s Executive Committee; Hamda Ali Tahkeem’s Case Manager Alblooshi; Mohieeldin ElBana, (CIArb) Executive Committee member, and Ziad Obeid was also present at the event.

For his part Mr. Alshehhi said, “A number of procedural developments in relation to both the conduct of arbitration proceedings and the enforcement of arbitration awards before the local UAE courts have further smoothened the legal process of the country.”

“We are grateful to the UAE government for approving and supporting arbitration for settlement of disputes,” he said, referring to the UAE Federal Arbitration Law No. 6 of 2018 (Federal Arbitration Law) that came into force on June 15, 2018.

The Federal Arbitration Law, which repealed the Arbitration Chapter of the UAE Civil Procedures Code No. 11 of 1992, became the key source of addressing the loopholes that were prevalent under the old arbitration regime.

“High-precision, flexibility and professionalism, as well as a cost-effective fee structure, are among the myriad advantages provided by TAHKEEM. Another unique advantage is its enviable record in issuing awards in a period not exceeding six months from the date of the first arbitration hearing,” he highlighted.

Alshehhi added, “One of the defining features of recent revisions of the leading institutional arbitration world has been the introduction of Emergency Arbitrator procedures, which represent an upcoming concept in the field of arbitration suitable for those who want to protect their assets and evidence that might otherwise be altered or lost.”

“Such arbitration is usually agreed to and arranged by the parties themselves without recourse to a Tribunal at the first instance. The proceedings either domestic or international are conducted by an Arbitrator as per the agreement between the parties or with the concurrence of the parties,” he pointed out.

The concept has already reached the UAE, and the increasing number of cases are being resolved using Emergency Arbitration, Alshehhi noted.

“Events like Dubai Arbitration Week are playing a key role in raising awareness about this alternative legal platform, which offers an optimal way to address and resolve disputes between business parties,” Alshehhi concluded.

The Dubai Arbitration Week is one of the key annual events that highlight the latest developments related to arbitration at the local and international level. The event aims mainly focuses on new laws, their effectiveness, flexibility and their impact on the business environment of a company and the country.