News
Cairn Energy, UK wins $1.2 billion arbitration award against the Government of India
British Oil and Gas explorer Cairn Energy Plc has won an arbitration award of USD1.2 billion, plus interest and costs against the Government of India on a tax dispute. The dispute arose as a result of a change in Indian Tax law in 2012, enabling the government to retrospectively tax companies for mergers and acquisitions…
ICC Court to open Overseas Case Management Office in ADGM, Abu Dhabi, UAE
The International Chamber of Commerce (ICC) and Abu Dhabi Global Market (ADGM) announced the opening of an ICC case management office in Abu Dhabi, UAE. The existing activities of the ICC MENA region will be integrated into this new case management structure, as agreed by ICC and ADGM. Related Services: ADGM Practices Operations are expected…
UAE Federal Judiciary sets up One-Day Court for Swift Justice
The UAE Federal Judiciary approved the establishment of misdemeanor courts for the decision of specific minor cases in just one day based on the Code of Criminal Procedures. This will reduce the backlog of cases in the courts resulting in better efficiency of judiciary. Related Services: UAE Mainland Litigation The cases that are addressed in…
Abu Dhabi Judicial Department simplifies litigation procedures
Abu Dhabi Judicial Department (ADJD) in its mission to simplifying litigation procedures and facilitating access of Justice to everyone has adopted 25 new forms in both Arabic and English. The ADJD aims to break the language barrier for litigants (residents and non-residents) and to simplify the procedures resulting in transparent litigation. Related Services: UAE Mainland…
UAE – India Food Corridor Project, a landmark agri-trade project for both the countries
The UAE- India Food Security Summit – 2020 organised by Consulate General of India, Dubai, Confederation of Indian Industry and India Invest has unveiled the Food Corridor Project between the two countries which will triple the exports of agricultural produces from India to UAE, rising the current export of $2.2 billion trade to $ 6…
100 % FOREIGN OWNERSHIP OF MAIN LAND COMPANIES IN UAE
Traditionally, setting up a business in UAE mainland required a local partnership. Only Free Zone entities were allowed 100% foreign ownership. A recent announcement has radically changed the business landscape of UAE, allowing 100% foreign ownership in UAE mainland businesses. Investments in certain sectors and economic activities will benefit from this newscheme. Related Services: General…
CORPORATE INSOLVENCY REGIME IN UAE
UAE has multiple options when it comes to Corporate Insolvency. This article is the first in a series, detailing Corporate Insolvency options in UAE. ADGM being one of the most advanced in the country, with certain provisions comparable to U.S. options, is being examined in the first one of the series. The Abu Dhabi Global…
AMENDMENTS TO COMMERCIAL TRANSACTIONS LAW WITH REGARD TO DISHONOURED CHEQUES TRANSACTIONS
The UAE Cabinet has approved amendments to the Federal Law No. 18 of 1993, commonly known as Commercial Transactions Law. The approved Decree-Law shall come into force in the year 2022 and the provisions shall apply when the Decree-Law is published in the Official Gazette. The new provisions aim to discourage criminal proceedings against people…
ARBITRATION AND CONCILIATION ORDINANCE, 2020
The Arbitration and Conciliation (Amendment) Ordinance, 2020 was promulgated with the purpose of preventing the enforcement of arbitral awards involving fraud or corruption. The stakeholder parties now have an opportunity to seek an unconditional stay of enforcement of arbitral awards when the arbitration agreement or award was induced by fraud or corruption. The provision has…
CLAIM FOR ALIMONY AND MAINTENANCE IN UAE
The ‘Sharia Law’ or the UAE Personal Status Law is the legislation governing family matters in UAE. The Personal Status Court deals with family matters such as marriage, divorce, alimony, guardianship, custody and visitation, maintenance etc. Article 1 of the Law provides that the Law applies to all UAE residents – Emiratis and Expats, Muslims…