Arabtec Holding (Arabtec) is reported to have recommenced its legal action against Meydan, three years after the two parties agreed to take it out-of-court, to resolve their dispute over the redevelopment of the horse racing venue. This is to recover its half of the AED2.8 billion claim lodged for work it carried out to build the Meydan Racecourse. Arabtec had been part of a JV with the Malaysian contractor WCT, which filed the AED2.8 billion case against Meydan in 2009 with Dubai International Arbitration Centre (Diac) after it had been removed from the project and had its bond recalled. Meydan launched a AED3.5 billion counter-claim against both parties in 2012. WCT continued to pursue its claim for its AED1.4 billon portion, and won its claim last July, with Diac awarding the company AED1.1 billion, plus legal costs of AED26.7 million and arbitration costs of AED8.2 million. (The National)   Arabtec (DU): AED1.64 as of 24 March 2016, Rating: Sell, FV: AED1.07 per share, MCap: USD2,062 million, ARTC UH / ARTC.DU