DUBAI: Amlak Finance has been awarded AED 780 million in an arbitration administrated by the Dubai International Arbitration Center since 2013. The ruling has also awarded Amlak Finance its legal costs and additional compensation.
Amlak will proceed with the legal proceeding to execute the ruling and recover the amounts due according the judgment. The impact of the ruling on the financial statements of Amlak will not be in 2019. It will depend on the speed of the execution of the ruling.