DIFC Courts

Practice Direction No. 1 of 2009 Interest on Judgments

May 23, 2009 Practice Directions

In The Judicial Authority of The Dubai International Financial Centre
DIFC Courts
Practice Direction No. 1 of 2009

Interest on Judgments

Citation

This Practice Direction will come into effect on the date of signature. It may be cited as Practice Direction 1 of 2009 — Interest on Judgments and may be abbreviated to PD 1/2009.

Interest on Judgments

1. This Practice Direction should be read in conjunction with DIFC Law No. 10 of 2004 and the Rules of the DIFC Courts and in particular Rule 45.19 (Interest on Judgment Debts).

 

2. A judgment of the DIFC Courts shall carry interest, from the date the judgment is entered, at the rate of 1% over the Emirates Interbank Offer Rate (“EIBOR”) or such other rate as the judge may prescribe in the judgment.

 

Chief Justice of the DIFC Courts
Dated: 23rd April 2009