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Articles contributed by Habib Al Mulla & Company
Gordon Blanke and Soraya Corm-Bakhos, Arbitration department, Habib Al Mulla & Company
It is commonplace in international arbitration theory that an arbitral award is not worth the paper it is written on unless it is easily enforceable. Unfortunately, enforceability is not always a given in international arbitration practice. Enforcement of foreign awards in the UAE may serve as an instructive example.
If the transient bout of economic recession is kept aside, yester years witnessed huge growth in the financial sector of the UAE. This inspired a big chunk of expatriate population to relocate to the UAE both for employment and investment. With the most congenial economic and employment ambience created by the visionary rulers of the country, many of the expatriates made significant economical gains too.
Mark Gilligan & Douglas G. Smith: September 2011
UAE Agency law impacts upon many different aspects of commercial life in the United Arab Emirates. The governing law, Federal Law No. 18 of 1981 (“the Agency Law”), is extremely broad and captures commercial activities ranging from a classic principal/agent relationship to franchising and distribution agreements. The Agency Law is a framework which serves to champion the rights of the local commercial agent, normally at the expense of the (typically foreign) principal.
Karim Nassif: April 2011
Prior to discussing misrepresentationit is important to understand the structure of the legal system in the UAE.
Mazen Boustany: April 2011
Fraud in Emerging Markets
Like the very recent events in Tunisia and Egypt have proven, any mention of fraud and corruption in the MENA region and people tend to think right away about governments and civil servants, rather that private corporations that are considered-wrongly of course- less concerned by this ordeal, but they are also considered in this part of the world, at least, as having less impact on the society as a whole.
Muhammad Syamsulfaiz Bin Zainuddin: April 2011
On 6th January 2011 the Emirates Securities and Commodities Authority (ESCA) released a new draft regulation on investment funds in the UAE (the Regulation) for public consultation. The
deadline for submitting comments or responses to ESCA is now closed, and it is expected that the Regulation will soon be discussed and approved by ESCA.
Shoeb Saher, Senior Associate, Corporate & Commercial, Habib Al Mulla, Dubai
In the UAE, according to a recent survey conducted by a recruitment consultancy, many companies have started hiring again, or are preparing to resume recruitment.
DURING THE BOOM TIMES, DUBAI AND THE UAE seldom experienced insolvency cases, so it became a widespread rumour that the UAE does not have an insolvency law. In addition, it had also been widely speculated that the UAE has a very archaic regime in which debts can lead a debtor to jail.
On a first reading this might seem like a particularly narrow question. Perhaps geographically of limited utility.
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.