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It absolutely was also asserted the discrepancy concerning the sale price ranges plus the Stipulated Reduction Values indicated that he sale costs were not sensible or did not represent good market place worth. 2nd, Al Mulla asserted that if Cessna had begun The entire course of action quicker, say in Slide of 2009, the loss and deficiency might have been much less.
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c. Contrary into the submission of Respondents one and 3, Cessna did not waive its ideal to arbitrate under the 1CC Principles and Cessna has taken no action which could represent a waiver. At enough time from the remain movement, the Dubai Court Proceedings experienced not been served on Cessna, a actuality which evidently stays genuine to at the present time. Cessna hasn't yet been summoned to appear from the Dubai Courtroom and it has taken no methods to attorn to that jurisdiction ahead of good company. Instead it's got insisted on its appropriate to arbitrate in accordance Together with the arbitration agreements and also the ICC Guidelines. Given the significance of this problem, a more specific recitation of your Investigation set out in Procedural Buy #two is acceptable. Respondents 1 and 3 argued that by reason of Write-up 203 in the UAE CCP, it had been incumbent upon Cessna to look with the "1st Listening to" inside the Dubai Court docket to request the referral to arbitration, and that failure to look and so question constitutes a waiver of the correct to arbitration.
four. The Claimant acknowledged and retained the topic aircraft in complete fulfillment on the Leases as well as economic obligations claimed to be owing and owing;
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