5 Essential Elements For Arabian Finance Awards
5 Essential Elements For Arabian Finance Awards
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b. a resolve the arbitrator has no jurisdiction or alternatively a dismissal of all statements
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five. The Respondent Al Mulla was entitled to some credit score or set-off of any and all sums the Claimant gained for the duration of its retention, use or operation of the topic aircraft, just before the final word sale and disposition of exact same.
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g. In November 2010, Respondent 1 and three commenced the proceedings while in the Civil Court of Dubai to Get better excessive Lease rental payments improperly billed by Cessna and compensated by Gulf Jet, and likewise to ascertain an affordable reduction or elimination on the liability beneath the Leases in accordance Using the rules in the Emirate of Dubai due to the impact of economic crisis which really should be mirrored in a suitable accounting. It was asserted that Cessna had declined to appear in These proceedings (Solution one.14).
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ISSUES FOR Dedication a hundred and one. Depending on the Conditions of Reference, as signed via the Claimant, Respondent two and the Sole Arbitrator and authorised from the ICC Courtroom, the resources and proof submitted by all functions to this arbitration as well as the oral evidence read more adduced via the Claimant for the deserves Listening to, the problems for resolve During this arbitration is usually stated as follows: Difficulty one: In light-weight from the ruling on the ICC Courtroom underneath Short article 6(4) and by this Tribunal in Procedural Get #two, does the Sole Arbitrator have jurisdiction to hear and ascertain the merits of the assert and any defences which may be asserted in this arbitration or has this Tribunal been deprived of jurisdiction by rationale of your commencement of the Dubai Court docket Proceedings or by the opposite grounds relied upon by Respondents 1 and 3 including the invalidity with the arbitration agreements?
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157. Gulf Jet had in correspondence lifted the allegation of overcharging by Cessna in respect of month-to-month payments. Whilst Gulf Jet asserted People promises from the Dubai Court Proceedings, the right amount of the regular monthly payments is immediately in issue With this arbitration and The problem of alleged overcharging is subsumed within the perseverance from the amounts adequately due from Gulf Jet so as to work out the amount of a deficiency, if any, just after applying the proceeds of sale. 158. The Claimant has relied on Article 14 (b) (i) of each and every Lease as The idea with the dedication of the amount it claims it can be entitled to Get better from Gulf Jet, and one other Respondents, under the phrases on the Leases where by the plane are actually repossessed after which offered by Cessna.
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