A First for the DIFC: Court of Appeal Sets Aside Parts of a DIAC Arbitral Award

Short summary

The DIFC Court of Appeal set aside parts of a DIAC arbitral award in Oheo Bank v Parker, finding the bank was not afforded a fair opportunity to present its case. The tribunal had upheld a regulatory breach claim that was never pleaded and first articulated in the claimant's post-hearing brief. This is the first time the DIFC Court of Appeal has set aside parts of a DIAC arbitral award.

• •DIFC Court of Appeal overturned a lower court ruling and set aside parts of a DIAC arbitral award
• •The tribunal upheld an unpleaded regulatory breach claim first raised in post-hearing briefs
• •The dissenting arbitrator flagged that the bank was deprived of key defences including contributory negligence

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