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Amlak Finance wins AED 780m arbitration ruling

Amlak Finance wins AED 780m arbitration ruling
Amlak Finance has obtained all of its legal costs as well as additional compensation
Amlak Finance
AMLAK
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Dubai – Mubasher: Amlak Finance was awarded a value of AED 780 million from arbitration that was administrated by the Dubai International Arbitration Center (DIAC) since 2013.

In addition, Amlak Finance has obtained all of its legal costs as well as additional compensation, the company disclosed to the Dubai Financial Market (DFM) on Tuesday.

In this regard, the firm will take the necessary legal procedures to execute the ruling and recover the amounts due.

Amlak Finance clarified that it will not see any impact on the financial statements of 2019; however, it “will depend on the speed of the execution of the ruling”.