Nakheel wins Penguin Marine tribunal | Real Estate Foreclosures ...

Dubai World Tribunal has ruled in favour of Nakheel saying that a subsidiary developing the man-made World islands is entitled for licensing fees from a company providing services for the project, The National has reported. Last week, the Tribunal dismissed a case brought by Penguin Marine Boat Services against The World. Penguin had alleged that by not proceeding with the project, the Nakheel subsidiary had breached a contract signed in 2008.

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Source: http://www.torealestates.com/2011/05/30/nakheel-wins-penguin-marine-tribunal/

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