Wed 17-10-2018 15:17 PM
ABU DHABI, 17th October, 2018 (WAM) — Abu Dhabi Global Market, ADGM, the international financial centre in Abu Dhabi, is pleased to announce that its state-of-the-art arbitration hearing facility, the ADGM Arbitration Centre, officially goes “live” and commences full operations today.
The ADGM Arbitration Centre further augments and enhances the arbitration infrastructure and landscape in MENA with its outstanding service offering and facilities, raising the standards of dispute resolution and business confidence in the region. The Centre caters to the ongoing strong demand for arbitration as parties’ preferred form of dispute resolution for their commercial or civil disputes.
Anchored in the financial free zone of Abu Dhabi, the ADGM Arbitration Centre offers advanced technology and world-class hearing facilities for local and global parties to resolve their disputes through arbitration or mediation without geographic constraints. Consistent with ADGM’s approach of consulting with and meeting the needs and requirements of the business and legal community, the Centre is open to all, regardless of the arbitral institution administering the dispute.
Ahmed Al Sayegh, Chairman of ADGM, said, “The ADGM Arbitration Centre strengthens Abu Dhabi’s position on the global map as a strategic centre for arbitration services that appeal to businesses and individuals from around the world. The Centre’s offering is set to further advance the UAE’s dispute resolution landscape, foster new business opportunities, and boost investment opportunities in the capital.”
Linda Fitz-Alan, CEO of ADGM Courts, added, “We are very pleased to open the Arbitration Centre, which once again reinforces ADGM’s role as a first mover in the region and places Abu Dhabi alongside the world’s existing major centres for arbitration. Like in many of those centres, arbitral awards in ADGM are recognisable and enforceable under the New York Convention, and its regulations are modelled on the UNCITRAL Model Law with contemporary modifications and enhancements that address the evolving business needs of the arbitration community. As an independent jurisdiction with its own civil and commercial laws, independent courts and with many of the world’s leading law firms present, ADGM is in a very strong position to support the requirements of users even more broadly with the addition of these arbitration and mediation facilities.”
WAM/Esraa Ismail/Nour Salman