| | In Dubai, the state of The World is in dispute | |
| | Author | Message |
---|
KK
Location : New York Super Powers : poastwhore Number of posts : 8316 pennies : 7853 Rep : 354
| Subject: In Dubai, the state of The World is in dispute Fri Jan 28, 2011 3:23 pm | |
| how many of the worlds starving could have been feed with the funds utilized on this waste of money?
In Dubai, the state of The World is in dispute DUBAI (AFP) – A cluster of 300 artificial islands off Dubai's coast in the shape of a global map is stable, its developer Nakheel insists, despite a court claim alleging that "The World" was neglected and eroding away.
"There is no issue with the stability of The World islands that are approximately 70 percent sold and handed over," a Nakheel spokesman said when asked about the allegations.
"The island purchasers (have) the responsibility to proceed with their developments in due course," he added.
The islands, many of which represent individual countries and which can only be accessed by boat or helicopter, were meant to be one of the Gulf city-state's crowning developments.
Builders have announced plans for a few of the islands, but development has yet to begin on most of them.
A company contracted to provide logistics support to the islands filed a claim with a tribunal that handles cases related to the emirate's troubled Dubai World conglomerate, alleging that third-party developers had not been encouraged to develop the islands, and said they were being hit by erosion.
Nakheel subsidiary The World LLC "did not develop the project as anticipated at the time of the agreement and the project has lain largely undeveloped," according to the claim filed by Penguin Marine Boats Services LLC.
Penguin is contracted to pay "a licence fee of 5 million dirhams ($1.36 million dollars) per annum" to conduct operations, but the lack of development on the islands means it has "been unable to develop its business opportunities," the claim said.
Additionally, "the navigation channels... are presently so ill-defined and the water depths have been so seriously eroded due to reclaimed sand silting up the navigation channels that major reclamation works will henceforth be required," it said.
A lawyer for Penguin Marine, Richard Wilmot-Smith, was quoted by local media as having told the tribunal that "the islands are gradually falling back into the sea."
Nakheel dismissed the allegations as "misleading and mischievous statements."
"The wholly incorrect and unsupported assertion relating to the state of The World islands was made in the context of a legal case brought against The World LLC by a logistics provider," the spokesman said.
"Nakheel will continue to protect the interests of its operations and stakeholders and take such action as is appropriate in the circumstances," he added.
The spokesman said that the case "was dismissed with costs awarded in favour of The World LLC. We are vindicated by the court's decision."
However, a final judgment with reasons for the decision has not yet been posted to the tribunal's website, where judgments appear after they have been issued.
Abu Dhabi-based English-language daily The National said that the tribunal ruled against Penguin but has not yet given its reasons for doing so.
Lawyers for Penguin Marine declined to comment, and the company's general manager Alex Labor said only that "Penguin's position is... what our lawyers said during the trial."
Nakheel, which developed Dubai's iconic palm-shaped islands and the Atlantis luxury hotel among other developments, was hard-hit by the global economic crisis, which led to a sharp fall in Dubai real estate prices.
Nakheel was to split from parent company Dubai World, which rocked global financial markets when it announced in November 2010 that it needed to freeze debt payments, under a debt restructuring plan
| |
| | | Joebert
Age : 63 Location : @ Computer Hobbies : Sleep/Photography Humor : Seinfeld (show) has it all! Super Powers : Faster than a speeding bulet...is that bad? Number of posts : 3905 pennies : 3262 Rep : 97
| Subject: Re: In Dubai, the state of The World is in dispute Sat Jan 29, 2011 10:20 pm | |
| Gas prices will need to go up again I see. | |
| | | KK
Location : New York Super Powers : poastwhore Number of posts : 8316 pennies : 7853 Rep : 354
| Subject: Re: In Dubai, the state of The World is in dispute Sat Jan 29, 2011 10:24 pm | |
| - Joebert wrote:
- Gas prices will need to go up again I see.
they are predicting 4 bucks this summer | |
| | | Sponsored content
| Subject: Re: In Dubai, the state of The World is in dispute | |
| |
| | | | In Dubai, the state of The World is in dispute | |
|
Similar topics | |
|
| Permissions in this forum: | You cannot reply to topics in this forum
| |
| |
| Latest topics | » the last person the person here wins by Admin Sun Jun 26, 2011 10:38 pm
» Interesting stuff by KK Sat Jun 25, 2011 8:54 pm
» Random Stuff... by Jats Sat Jun 25, 2011 5:58 pm
» anyone still here ? by KK Fri Jun 10, 2011 6:01 pm
» Happy Birthday C/Thru!! by Lady Snipe Dragon Fri Jun 03, 2011 12:51 pm
» vintage movie gifs by Jats Thu May 26, 2011 8:46 pm
» Oprah Memorial service by Joebert Wed May 25, 2011 5:54 pm
» Bristol Palin earns $262K for teen pregnancy work by Joebert Wed May 25, 2011 1:31 am
» whatever you feel like by Joebert Tue May 24, 2011 10:21 pm
» Trumped by Joebert Tue May 24, 2011 10:08 pm
» pick a royal wedding hat by Joebert Tue May 24, 2011 10:01 pm
» so which one of you wants to throw down? by KK Thu May 19, 2011 7:37 pm
» the photo of the year's wiki page by alivegenieII Wed May 18, 2011 6:13 pm
» Congratulations on popping C9's flaming & smite war cherry by Lady Snipe Dragon Tue May 17, 2011 11:29 pm
» President 0bama’s approval rating hits a new low by KK Sun May 15, 2011 5:32 pm
» New Books on Ward by alivejeanie Sat May 14, 2011 3:25 pm
» New Holidays ? by Lady Snipe Dragon Mon May 09, 2011 8:50 pm
» Fleamailman, care to explain this ? by c/thru Sun May 08, 2011 10:25 pm
» Happy Mothers Day.. by c/thru Sun May 08, 2011 8:12 pm
» SuperBowl countdown by Guest Sat May 07, 2011 10:14 pm
» International Womens Day 2011 by Guest Sat May 07, 2011 10:06 pm
» wuzz up suckas by KK Sat May 07, 2011 9:40 pm
» INTELLIGENCE REFORM AND TERRORISM PREVENTION ACT of 2004 by KK Sat May 07, 2011 8:39 pm
» Victron Energy and their Portfolios by KK Tue May 03, 2011 7:47 pm
» I voted today by KK Tue May 03, 2011 7:45 pm
» Flax Milk & your omegas by KK Tue May 03, 2011 7:43 pm
» Happy Easter 2011 by Lady Snipe Dragon Thu Apr 28, 2011 1:37 am
» Spanish scientists search for fuel of the future by KK Fri Apr 22, 2011 7:31 pm
» Amen !!! VIP LINKS by KK Fri Apr 22, 2011 7:28 pm
» Youtube changed their type of linking codes.. by c/thru Fri Apr 15, 2011 10:07 pm
» YOU balance the Federal Budget by c/thru Fri Apr 15, 2011 10:05 pm
» Interesting Images.. by c/thru Fri Apr 15, 2011 10:00 pm
» Avacs by KK Tue Apr 12, 2011 10:13 am
» Oil near $112 as attacks damage Libyan oil fields by KK Mon Apr 11, 2011 10:52 am
» Stamp gaffe tears Kate and William apart It may come as a shock, but Kate Middleton and Prince William have 'split' less than one month before they are due to tie the knot. by KK Tue Apr 05, 2011 9:45 pm
|
|