Property and Construction Team of the Year: Hadef & Partners
A team from Hadef & Partners, led by Anthony Edwards, head of the firm's Dubai engineering and construction team, caught the judging panel's attention for its work on a landmark case before the Dubai World Tribunal. The team acted for Technical Architects General Contracting Company (TAGC) in its successful defeat of a bid for a $20m (£13m) judgment against the developers Nakheel to be set aside. The case concerned a contract to build 31 blocks of flats at a residential complex in Dubai that fell victim to the financial difficulties that afflicted Nakheel's parent, Dubai World. Nakheel terminated the contract mid-way through construction work in January 2009 and, according to Hadef, the two parties reached a compromise agreement in June for TAGC to be paid AED58m (£10m) for the work already completed.
June 13, 2013 at 07:03 PM
2 minute read
A team from Hadef & Partners, led by Anthony Edwards, head of the firm's Dubai engineering and construction team, caught the judging panel's attention for its work on a landmark case before the Dubai World Tribunal.
The team acted for Technical Architects General Contracting Company (TAGC) in its successful defeat of a bid for a $20m (£13m) judgment against the developers Nakheel to be set aside.
The case concerned a contract to build 31 blocks of flats at a residential complex in Dubai that fell victim to the financial difficulties that afflicted Nakheel's parent, Dubai World. Nakheel terminated the contract mid-way through construction work in January 2009 and, according to Hadef, the two parties reached a compromise agreement in June for TAGC to be paid AED58m (£10m) for the work already completed.
When this payment was not forthcoming, TAGC served proceedings in the Dubai World Tribunal claiming the original settlement plus interest and loss of profit. TAGC subsequently entered a judgment against Nakheel based on a default as the developer had not acknowledged service of the proceedings.
Nakheel applied for the judgment to be set aside in June 2011, arguing that the papers had not been served, it had never agreed on a settlement in the first place and that the tribunal did not have jurisdiction over the case. The tribunal dismissed the challenge and awarded TAGC its costs.
According to Hadef, TAGC was delighted with the outcome and agreed for the case to be publicised, prompting Edwards to release a statement proclaiming a significant victory for the firm's client.
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