Wednesday, December 02, 2009

Dubai's judicial miracle

" The decisions of the Dubai courts, which are controlled by the emirate’s ruling family, can be fickle, say lawyers in the region. For example, in order to bring a court case against a government-owned or government-run entity, a corporation or individual needs to get permission — from the government. In the prospectus for Nakheel bonds, investors are warned that “judicial precedents in Dubai have no binding effect on subsequent decisions,” and that court decisions in Dubai are “generally not recorded.”"