Prof. Dr. Tarek F. Riad Chairman of the DIAC Executive Committee - PowerPoint PPT Presentation

Prof. Dr. Tarek F. Riad Chairman of the DIAC Executive Committee Managing Partner Kosheri, Rashed and Riad Law Firm-Egypt

Thank you Mr Alain Farhad (Squire Patton Boggs) Dr Gordon Blanke (DWF) Dr Mohamed Abdel Wahab (Zulficar & Partners) Ms Lara Hammoud (ADNOC) Dr Adnan Amkhan Bayno and Mr Sergejs Dilveka (MENA Chambers) Mr Jeremy Nicholson (4 Pump Court) Dr Nael Bunni Dr Omar Aljazy (Aljazy & Co) Mr Alec Emmerson & Mr John Lewis Mr Victor Leginsky (Arbitralis) (Clyde & Co.) Mr Karim Nassif (Lefevre Pelletier & Mr Adrian Cole (King & Spalding) Associes) Ms Sally Kotb and Ms Celine Kanakri Ms Nayiri Boghossian (Al Owais (Baker & McKenzie.Habib Al Mulla) Advocates & Legal Consultants) Mr Peter Anagnostou (DLA Piper)

DIAC New Rules Team – Thank you Dr Habib Al Mulla Dr Tarek F. Riad Prof. Bernard Hanotiau Dr Antonio R. Parra Prof. Filip De Ly Mr Martin Hunter Mr Hussain Al Jaziri Mr Jeppe Skadhauge Dr Karim Hafez Mr Abdul Moneim Suwaidan Dr Fathi Kemicha Ms Mercedes Torres-Lagarde Mr Dalmook Mohammed Dalmook Ms Sandra Puehringer Prof. Philippe Leboulanger Ms Jyothi Mani Mr Georg Kahale Ms Olena Voronovych Mr Juan Fernandez-Armesto Mr Abdulaziz Anwar Mr Erik Schafer Ms Amna Al Shaali Mr Philip Capper Mr Ulf Franke

Overview of some of the important issues in the new DIAC Arbitration Rules:  VAT  Time extension for rendering the final award  Change of default seat of arbitration  Physical signature of awards  Appointment of arbitrators  Jurisdictional objections  Awarding legal costs  Fixing Tribunal’s fees  Exclusion of liability of arbitrators  Emergency arbitration

Overview of some of the important issues in the new DIAC Arbitration Rules: (contd.)  Expedited proceedings  Power of Majority to continue the proceedings  Power of Tribunal to sanction counsel  Soft Scrutiny of arbitration awards  Third party funding  Shariah Arbitration  Consolidation  Multiple Contract  Joinder  Conciliation

 Largest arbitration Centre in the Middle East  Efficient and impartial administration of disputes Non-profit institution, independent from the Government  of Dubai and the Dubai Chamber of Commerce and Industry

Why choose DIAC? Over the recent years, DIAC has been the institution of choice due to its:  the international composition of its governing bodies governing legislation  pool of experienced arbitrators   experience in the management of more than 2,500 cases since 2007  Experience in managing disputes relating to different sectors, including real estate, engineering & construction, corporate & commercial, and oil & gas  experience in complex disputes of high claim value

DIAC’s Composition  DIAC’s Board of Trustees is comprised of experienced local and international arbitration specialists and is currently chaired by Dr Habib Al Mulla.  DIAC’S Executive Committee is comprised of five members from the Board of Trustees. It is currently chaired by Dr Tarek Riad and includes Mr Philip de Ly, Mr Antonio Parra, Mr Jeppe Skadhauge, and Mr Abdul Moneim bin Sowaidan as its members. DIAC’s Secretariat includes case managers from different cultural and educational  backgrounds. The case management team manages cases in both the English and Arabic language. The Secretariat is able to administer cases in German, Hindi, Spanish and Russian.

Cases Registered 440 431 379 310 207 177 174 169 2010 2011 2012 2013 2014 2015 2016 OCT-17 Average number of cases from 2010 until Oct 2017 – 303 cases

Nationality of the parties Foreign-Foreign (18%) UAE-UAE (26%) UAE-UAE (26%) UAE-Foreign (56%) Foreign-Foreign UAE-Foreign (56%) (18%)

Amounts in dispute(AED) 8,000,000,000 6,900,000,000 6,000,000,000 5,600,000,000 5,200,000,000 5,200,000,000 3,700,000,000 2,700,000,000 2010 2011 2012 2013 2014 2015 2016 2017 Average value of disputes from 2010 to Oct 2017: AED 5.4 Billion

Nationality of arbitrators [VALUE] [VALUE] (0.5%) [VALUE] (1%) (1%) 68 MENA (47%) (10%) EUROPE (40%) [VALUE] NORTH AMERICA (10%) (0.5%) LATIN AMERICA (0.5%) 350 ASIA (1%) (47%) AFRICA (0.5%) AUSTRALIA/ NEW ZEALAND (1%) 297 (40%) Non MENA Arbitrators appointed: 53%

Young and female arbitrators and New Rules From 2010 until Oct 2017, the EC has made more than 900 appointments (both direct and upon nomination of the parties), from which:  DIAC gives a chance to young arbitrators from every nationality  Close to 55% (approximately 493 appointments) were young arbitrators under the age of 45  Close to 35% (approximately 320 appointments) were female arbitrators DIAC will have new Rules in 2018.

THANK YOU