Stephen Doherty Obtains $50 million DIAC Arbitration Award

Acting as sole counsel, Stephen has successfully obtained an award for $50 million (USD) in two linked arbitrations for a Dubai-based developer, in proceedings under the rules of the Dubai International Arbitration Centre (DIAC).

As part of the same set of proceedings, Stephen also successfully defended a substantial counterclaim exceeding $150 million (USD) in value.

The dispute concerned delays to a master developer’s obligations to the sub-developer, particularly in relation to plot hand-over and the provision of infrastructure. It is one of a number of property disputes in which Stephen has successfully acted for parties in the GCC region, arising in the wake of the 2008-09 financial crisis.

Stephen was instructed by Adv. Ali Ismael Al Zarooni and Areen Jayousi at Horizons & Co.

Find out more

Stephen Doherty frequently appears as sole counsel in arbitrations, including before the ICC, DIAC, LCIA, DIFC-LCIA and ADCCAC. He is also a registered practitioner who recently appears before the DIFC and ADGM Courts.

To find out more or to instruct Stephen, please contact David Smith on (+44 (0)20 7427 4905) or Colin Bunyan on +44 (0)20 7427 4886 for a confidential discussion.

News 16 Apr, 2021