This Practice Direction will come into effect on the date of issuance. It may be cited as ‘Tribunal Practice Direction No. 1 of 2010 – Arbitration Claims’ and may be abbreviated to TPD 001/2010.

Arbitration Claims

1. This Practice Direction should be read in conjunction with Decree 57 of 2009 issued by HH The Ruler of Dubai.

2. It will be the policy of the Tribunal to respect and enforce arbitration agreements made between the Corporation and its creditors.

3. Where disputes have already arisen, the Tribunal expects the parties to continue with pending arbitration proceedings in accordance with their contractual obligations. Applications in relation to arbitration agreements or to pending arbitration references which would otherwise have been made to a Court may be made to the Tribunal.

Chairman of the Tribunal

Date issued: 30 March 2010