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"Holman Fenwick Willan is a global law firm advising businesses engaged in international commerce. The firm has a reputation worldwide for excellence and innovation, and has focused the development of its capabilities in the following core sectors: commodities, energy, finance, insurance and..." read more
"After opening in May 2006, Kennedys’ Dubai office has grown steadily. The office was set up in response to the needs of clients with interests in the UAE and surrounding region, and also because of Kennedys’ existing association with leading Dubai law firm Habib Al Mulla and Company, with w..." read more

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Overview

As the world comes to terms with the financial crisis, it has become apparent that the UAE is not immune to it. Worries over the amount of debt that Dubai has accrued is well documented, and a number of its most highly esteemed corporations have announced redundancies and cost-cutting measures. Dubai’s position on the global stage is not under threat, with oil-rich Abu Dhabi expected to step in with funding should the need arise. Indeed, Abu Dhabi’s status within the global economy and the legal market became much more evident in 2008. A series of major law firms opened new offices in the UAE’s administrative capital during the year, including Clifford Chance, Akin Gump Strauss Hauer & Feld LLP, Ashurst LLP, Freshfields Bruckhaus Deringer and Norton Rose (Middle East) LLP. It has become evident that the Abu Dhabi ruling family and the wealthy corporations that are either state-controlled or state-linked favour law firms that have an office in the Emirate; an office in Dubai is not sufficient. Evidently this has increased the number of firms seeking to open offices in Abu Dhabi. Further reports, however questionable, suggest that the Abu Dhabi authorities will restrict the number of office licenses awarded to firms in the future. This would mean the steady influx of firms would come to an abrupt end, and only those that have already demonstrated a physical commitment to the Emirate would be able to expand their operations.

Though the UAE legal market is rapidly maturing, levels of specialisation are not that of London or New York, and as such firms and their lawyers are required to be multi-skilled and more general in focus. Our coverage reflects that, with the banking and finance section listing practices that cover a broad range of matters including bank loans, Islamic finance, debt capital markets, project finance and bank regulatory issues; and the corporate and commercial section listing firms that deal with a variety of corporate, corporate finance and commercial matters.

The UAE also has a rapidly developing disputes culture. The Dubai International Arbitration Centre (DIAC) is handling an ever greater volume of cases, as is the new DIFC Court. In 2008, the London Court of International Arbitration (LCIA) established an arbitration centre in the DIFC and this is expected to have a significant impact on dispute resolution in the region.

As with many other jurisdictions, foreign law firms do not on the whole practice local law in the UAE. Many have therefore created fruitful relationships with domestic law firms. Al Tamimi & Company is widely regarded as the leading local firm, having successfully combined leading domestic lawyers with European and Australian practitioners. Some international law firms, such as Allen & Overy LLP, Clifford Chance and Denton Wilde Sapte operate integrated offices of locally-qualified and foreign international lawyers.

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Legal Developments in United Arab Emirates

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Dubai Financial Support Fund to spearhead restructuring of Dubai World

    The Government of Dubai issued a press release on 25 November 2009 confirming that, through its Supreme Fiscal Committee (SFC), it has authorised the Dubai Financial Support Fund (DFSF) to spearhead the restructuring of Dubai World with immediate effect.
    - Denton Wilde Sapte
  • Law No 9 of 2009 and Article 3 of Law No 13 of 2008

    Application and implementation of Law No 9 of 2009 and Article 3 of Law No 13 of 2008 and any pitfalls associated with the same.
    - Trench & Associates
  • A Lawyer’s Words of Caution

    Before I embark on a review on the current hotel management companies’ and owners’ predicament when entering into a market such a Dubai in the face of the financial crisis, I have a few questions to pose to Mr Mike Scully;-
    - Trench & Associates
  • UAE - Dispute Resolution 2009/10

    Commercial disputes in the United Arab Emirates (UAE) are generally resolved through litigation in the courts or arbitration. Arbitration is becoming an increasingly popular way to resolve disputes. The UAE recently signed the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (New York Convention).
    - Afridi & Angell
  • M-Banking in UAE, is it regulated?

    Whilst driving to work in the morning you receive an sms from your wife reminding you to pay the DEWA bill. You realize that you have one internal meeting at 9.30am and another meeting at 3.00pm. There is no time for you to go to DEWA office or other payment outlets and you are betting whether you have time to pay the bill online from your desktop computer. In fact the only time you have to think about this house chore is the time when you are alone in the car driving to the office. However with the advent of mobile banking, the bill can be paid by pressing a few buttons on your mobile phone and by the time you reach the office, you are free to concentrate on other matters.
    - Habib Al Mulla & Company
  • Can Freehold Visas Win Back Trust?

    Dubai’s freehold property era is several years old but some of its birth pangs were never really addressed.
    - Trench & Associates
  • Islamic finance update

    On 30 April 2009 in Sharjah, United Arab Emirates, the International Islamic Fiqh Academy (Academy) of the Organisation of Islamic Conference (OIC) closed its 19th session. The Academy is composed of senior Shari’ah scholars representing Muslim member countries of the OIC. It is considered to be the most prestigious and high-ranking body of Shari’ah scholars in the Muslim world. Compliance with its resolutions, while not statutorily binding, is considered to be extremely important and persuasive.
    - Denton Wilde Sapte
  • Commercial Rules for Bankruptcy in the Kingdom of Saudi Arabia

    The laws on bankruptcy in Saudi Arabia are not extensive nor has their application been well tested. Saudi law dealing with bankruptcy is not very detailed and in broad terms it is left to the parties to make an agreement with each other or Shari'ah principles are applied and the relevant court will decide the matter.
    - Al Tamimi & Company
  • EMPLOYEE SHARE OPTION AND INCENTIVE PLANS

     
    - Al Tamimi & Company
  • Draft Arbitration Laws Published by Ministry of Economy and DIFC

    If enacted, two draft arbitration laws released for consultation in February 2008 stand to put the UAE at the forefront of arbitration in the Middle East.
    - Al Tamimi & Company

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to