Tue 14-07-2020 21:13 PM
ABU DHABI, 14th July, 2020 (WAM) — Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is pleased to announce that it has been awarded ‘Jurisdiction that has made great progress’ by the GAR Awards 2020. GAR is the leading resource on international arbitration news and community intelligence. Each year the GAR Awards recognise leaders in the global arbitration community for their contribution to the industry. Having only opened as an International Financial Centre (IFC) in 2015, then launching the ADGM Arbitration Centre (ADGMAC) in late 2018, ADGM has made a significant impact on the arbitration community in a short space of time.
The GAR Awards took note of three areas where ADGM made clear progress in 2019: the publication of the ADGM Arbitration Guidelines, the issuing of ADGM Courts’ first two arbitration-related decisions, and the enactment of Litigation Funding Rules, which apply to both court and arbitral proceedings.
Commenting on the award, Linda Fitz-Alan, Registrar and Chief Executive of ADGM Courts, said: “On behalf of ADGM, I am delighted to have accepted the award for ‘Jurisdiction that has made great progress’. I extend our sincere thanks to GAR for the award. I also express our tremendous gratitude and many thanks to all of our clients and partners, and to the arbitration community and profession as a whole, for their support, endorsement and encouragement, without which we would not have come this far in such little time. Since inception, we have delivered a progressive and inclusive seat with many strong and collegiate partnerships and a state-of-the-art hearing facility. The award recognised our progress in 2019, and since then we have continued to deliver innovative thought leadership projects and events, with a major focus on transformation in the legal industry. We look forward to continuing our work to ensure that the UAE remains a global leader in dispute resolution.”
In March of this year, ADGM launched a Panel of Arbitrators. With diversity and global reach as central considerations in establishing the Panel, it is designed to be a resource that parties and their advisors can consult when selecting their arbitrator. Then, in June 2020, amendments were made to the ADGM Founding Law, which further strengthened its dispute resolution framework. Since its establishment, ADGM has worked to integrate international best practices and standards across its portfolio of services to ensure its place as a global leader and destination for dispute resolution.
This content was originally posted at Emirates News Agency on the Source link .