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RANIA TADROS WINS 'SHIPPING AND TRANSPORT LAWYER OF THE YEAR'

Rania Tadros, partner at international law firm Stephenson Harwood, has been named 'shipping and transport lawyer of the year' at the Legal 500 MENA Awards 2025. Rania is the firm's Dubai office managing partner, and head of the firm's maritime and offshore group. She is a renowned maritime, trade and offshore lawyer with more than two decades of experience advising in the sector.  She has a particular focus on resolving disputes and supporting clients on complex, high value commercial matters. "I am so pleased to have received this award," said Rania Tadros. "It reflects more than my own efforts – the dedication and calibre of our international team, the exceptional mandates on which we're instructed, and the strategic importance we as a firm have placed on transportation and trade." Rania added, "I am also grateful to our clients for continuing to appoint and trust us as their preferred legal advisors on both their day-to-day matters as well as their most challenging and commercially sensitive matters." Rania's award follows her promotion to the "Hall of Fame" category for shipping in the latest Legal 500 EMEA 2024 Guide, where she is currently the only private practitioner ranked in this band for the United Arab Emirates. The Legal 500 MENA Awards identify standout legal talent in the Middle East and North Africa region. The winners are determined by Legal 500’s independent research process and selected by a judging panel of industry experts. For further information on Stephenson Harwood LLP, please contact: Sarah Owen Senior Communication and PR Executive Stephenson Harwood LLP Tel: +44 (0)207 809 2874 Email: [email protected]  
04 March 2025
Press Releases

PARTNER IWAN WALTERS JOINS STEPHENSON HARWOOD

International law firm Stephenson Harwood LLP has strengthened its projects, energy and infrastructure practice with the addition of partner Iwan Walters, who joins the firm in Dubai. Iwan advises on the full life cycle of energy, renewables, water, and infrastructure projects, with a particular focus on clean energy and sustainability projects. Iwan advises clients on their investment in clean energy and infrastructure projects as well as on energy transition plans. Iwan has advised clients on their clean energy projects globally including in the Middle East, Africa, Europe and Asia. "This is an exciting time for our Middle East projects, energy and infrastructure practice," said Rania Tadros, Dubai office managing partner, Stephenson Harwood. "Many countries across the GCC are undertaking a huge energy transformation, as the region aims for net zero emissions and embraces sustainable energy practices.  We are committed to expanding our projects capabilities in the Middle East, particularly in the areas of sustainability and energy transition. Iwan brings with him experience honed over two decades of practice, and first-hand knowledge and insight into the region and industry." "Iwan is a valuable addition to the firm's international projects, energy and infrastructure practice," said Rebecca Carter, head of Stephenson Harwood's real estate and projects group. "His experience in energy transition aligns with the firm's strategic focus on this sector and working alongside our recent significant senior hires in Europe and Southeast Asia, brings greater depth to our international practice. His arrival enhances our ability to deliver exceptional service and expert support to our clients on high-profile and big-ticket projects in key global markets." With international expertise and broad experience in a wide range of energy, renewables, and infrastructure projects, including PPP, the Stephenson Harwood projects, energy and infrastructure practice advises clients all over the world. In renewables and energy transition, the team acts for sponsors, lenders, operators and construction and engineering contractors across the full range of technologies – from solar, wind, waste-to-energy, nuclear and geothermal, to hydrogen and carbon capture and storage.  
04 March 2025
Press Releases

STEPHENSON HARWOOD ADVISES ON MULTI-AWARD WINNING ISLAMIC FINANCE DEAL

International law firm Stephenson Harwood LLP recently advised on a deal which has won three awards at the Islamic Finance News (IFN) "Deals of the Year 2024" Awards. The firm advised Korean Export Credit Agency Export–Import Bank of Korea (KEXIM), and the French headquartered multinational bank BNP Paribas, as lease arranger and the French lease lenders, on a private placement Sukuk (backed by commodity Murabaha receivables) for the Norfa LNG SAS. This transaction represented the first Shari'ah compliant French lease Sukuk issuance and represented the first cross-border private placement Sukuk issued by Norfra, a liquified natural gas (LNG) carrier based in France and controlled by Norway’s Knutsen Group. The transaction was awarded "Cross Border", "Structured Finance", and "Europe" IFN Deal of the Year 2024 Awards. The transaction was revered for its innovative structuring with the Sukuk issuance embedding commodity Murabahah (Tawarruq) trades to secure commitments.  The transaction was also highlighted for its ability to satisfy all interregional - Norway, France, and Kuwait –regulatory, legal and tax issues as part of the structuring requirements of the transaction. The IFN Awards, which took place in Dubai on 17 February 2025, honoured the outstanding achievements of those who operate in the field of Islamic finance transactions across the Middle East, Europe and Africa region, through recognising the industry's most groundbreaking transactions over the previous 12 months. For further information on this award-winning matter, click here.  
03 March 2025
Press Releases

STEPHENSON HARWOOD ADVISES LENDERS ON US$300 MILLION FINANCING FACILITY FOR OFFSHORE SUPPORT VESSEL FLEET

International law firm Stephenson Harwood has advised the National Bank of Fujairah PJSC and The Arab Energy Fund on a US$300 million financing facility provided to Stanford Marine and Allianz Middle East Ship Management (managed by the UAE-based asset manager SHUAA Capital psc ("SHUAA"),a leading asset management and investment banking platform in the Middle East region). As a single loan facility, it will be used to drive the growth of Stanford Marine and Allianz Middle East Ship Management – the world's fourth largest OSV fleet – that together control 120 vessels across 13 different jurisdictions throughout the Middle East, Africa, Asia, Latin America and the West Indies. This transaction represents one of the largest Secured Overnight Funding Rate based facilities for the OSV sector in the region. The matter follows on from Stephenson Harwood also advising the lenders on preceding facilities to Stanford Marine and Allianz Middle East Ship Management. Standford Marine and Allianz Marine Middle East Ship Management are maritime logistics providers that operate the largest fleet of owned and chartered OSVs in the Middle East. The fleet comprises a combination of platform supply vessels, anchor handling tug supply vessels, crew boats, accommodation barges and flat barges, among others. The Stephenson Harwood team was led by Dubai-based banking and finance partner, Rustum Shah, and maritime finance managing associate Chinar Zaidi. They were supported by maritime finance associate Shwini Dsouza and banking and finance associate Punte-â Hosseini. Further support in relation to Singapore and Liberia aspects of the matter was provided by members of the firm’s Singapore team, including partner Gregory Xu, and Virtus Law* partner Jason Yang, and senior paralegal Sylvia Lisa.  
28 February 2025

DIFC Courts address abolition of DIFC-LCIA

For the first time, the DIFC Courts have provided welcome clarification on some of the issues generated by Decree No. 34 of 2021 and the fallout from the abolishment of the DIFC-LCIA and EMAC. This was provided in the landmark decision of Narciso v Nash, in which members of Stephenson Harwood's Dubai-based disputes team – partner Mark Lakin, managing associate Magda Kofluk, and associates Samantha Martin and Mayss Akasheh - acted for the Claimant. The team report on this case which delves into its merits and the important precedent it sets for how contractual reference to the superseded arbitration centres should be treated in future. The case – Narciso v Nash (ARB 009/2024) – is of particular significance as the DIFC Court of First instance properly considered the effect of Decree No. 34 of 2021 concerning the Dubai International Arbitration Centre, which abolished the DIFC-LCIA Arbitration Centre and transferred its rights and obligations to the Dubai International Arbitration Centre (DIAC). Decree 34 provided that all DIFC-LCIA arbitration agreements concluded before the effective date of the decree (20 September 2021) were deemed valid, with DIAC assuming responsibility for administering disputes arising from those agreements unless otherwise agreed by the parties. The decree also attached a statute providing that arbitration agreements seated in the DIFC would be governed by the DIFC Arbitration Law and that the DIFC Courts would have jurisdiction to consider any claim, application or appeal relating to any award or arbitration measure. Many businesses have been concerned about the practical implications of Decree 34. This has been compounded by rulings from other courts, including in the United States and Singapore. These judgments raised doubts about the effectiveness of Decree 34, questioning whether the decree could effectively substitute the parties’ choice of DIFC-LCIA arbitration for DIAC arbitration. The DIFC Court's decision provides much-needed clarity and reassurance to parties whose contracts contain DIFC-LCIA arbitration clauses and establishes a firm precedent within the UAE that Decree 34 is enforceable, thereby allowing parties to continue to rely on their existing DIFC-LCIA clauses without fear of invalidation or legal challenges and to pursue arbitration under the DIAC framework. The Claimant, anonymised in the judgment as “Narciso”, is a UAE-incorporated engineering and construction company that serves as the main contractor for a residential project in Sharjah. Narciso entered into a subcontract with Defendant “Nash,” a UAE electrical and mechanical company, for works related to the project. The subcontract provided for arbitration under the DIFC-LCIA Arbitration Centre Rules, with the DIFC as the arbitral seat and UAE law governing. The Claimant terminated the subcontract after disputes arose. The Defendant applied to DIAC requesting it to appoint an arbitrator under article 12.3 of the DIAC Rules. The Defendant had not referred to its application as a request for arbitration and had not paid the relevant registration fee. DIAC did not treat the application as a valid request for arbitration and, instead, treated it as a request for DIAC to act as appointing authority under article 4.1 of appendix II of the DIAC Rules, which required the consent of both parties. The Claimant objected to DIAC acting as an appointing authority, arguing that such a request was premature and out of order. DIAC agreed and closed its file. The Defendant then commenced proceedings against the Claimant in the Sharjah Court, seeking damages for breach of contract and wrongful termination. The Claimant applied to the DIFC Court for an interim anti-suit injunction ("ASI") to restrain the Defendant from pursuing the Sharjah proceedings in breach of the arbitration agreement. The DIFC Court granted the interim ASI on 20 May. After being granted more time to answer the injunction, the Defendant applied on 3 June to challenge the DIFC Court's jurisdiction and discharge the interim ASI. The Defendant argued that: the DIFC Court did not have jurisdiction because neither of the parties was established in the DIFC, and the law applicable to the subcontract and the arbitration agreement was UAE law, not DIFC law; the arbitration agreement was invalid because the selected forum, the DIFC-LCIA, no longer existed and Decree 34 was in conflict with the principle of party autonomy; the arbitration agreement had been abandoned or the Claimant was estopped by conduct from relying on it; and the ASI was not justified, as the Sharjah proceedings were not vexatious or oppressive and there was no apparent injustice in allowing them to continue. The Claimant opposed the Defendant's application on the basis that: the DIFC Court had jurisdiction since the parties had agreed the DIFC as the seat of arbitration, which carried with it the implicit choice of the DIFC Courts as the supervisory courts, and the DIFC Court had the power to grant ASIs pursuant to article 32 of DIFC Law 10 of 2004; by reason of Dubai Law No. 5 of 2021, Decree 34 forms part of the law of the DIFC; the arbitration agreement was valid and enforceable and governed by DIFC law as the law of the seat of arbitration; Decree 34 did not invalidate the arbitration agreement but preserved the parties' bargain and allowed them to resort to DIAC or any other arbitration centre if they wished; the arbitration agreement had not been abandoned, nor was the Claimant estopped by conduct from relying on it, as the Claimant had not shown any clear intention that the parties were not bound by the arbitration agreement, and the Defendant made a mistake in the manner in which it attempted to commence arbitration; and the ASI was justified, as there was no good or strong reason not to enforce the arbitration agreement. On 20 June 2024, Justice Michael Black KC in the DIFC Court of First Instance issued his decision with reasons. He dismissed the Defendant's application and continued the interim ASI until the final determination of the Claimant's claim for a permanent ASI or until further order. The judge held that: the DIFC Court had jurisdiction over the Claimant's claim, as the parties had chosen the DIFC as the seat of arbitration, which carried with it the implicit choice of the DIFC Courts as the supervisory courts, and the governing law did not make any difference to the jurisdiction of the DIFC Courts to protect their own exclusive jurisdiction and to protect the parties' agreement to refer their disputes to arbitration; the arbitration agreement was valid and enforceable, as it was strongly arguable that it was governed by DIFC law as the law of the seat of arbitration, and Decree 34 did not render the arbitration agreement null and void, inoperative or incapable of being performed, but preserved the parties' bargain and allowed them to resort to DIAC or any other arbitration centre if they wished; the arbitration agreement had not been abandoned, nor was the Claimant estopped by conduct from relying on it, as these were serious issues to be tried, and it was not clear that the Claimant had fundamentally failed to perform the arbitration agreement or shown any clear intention to renounce it, and the Defendant had made a mistake in the manner in which it tried to start the arbitration proceedings; and the ASI was justified, as there was no good or strong reason not to enforce the arbitration agreement, and the Defendant should be restrained from pursuing the Sharjah proceedings, which were in breach of the arbitration agreement and interfered with the jurisdiction of the DIFC Court. Clarity that DIFC-LCIA clauses are valid and enforceable The DIFC Court's decision is a significant development for arbitration in the UAE. By upholding the Decree, the DIFC Court has provided clarity on the status of arbitration agreements that were initially tied to the now-abolished DIFC-LCIA Arbitration Centre. This approach aligns with international arbitration standards, where courts generally aim to uphold the integrity of arbitration agreements unless there are compelling reasons not to do so. The decision is likely to be a relief to parties with existing arbitration agreements specifying the DIFC-LCIA, as it ensures that their agreements remain valid and enforceable.  
28 October 2024
Press Releases

Stephenson Harwood partner Ron Nobbs bolsters firm's construction practice in the Middle East

Law firm Stephenson Harwood LLP has bolstered its Middle East construction practice with the relocation of partner Ron Nobbs from London, with further plans to grow the team over the next five years. Ron has more than three decades of experience working for clients on construction infrastructure and engineering projects around the world, including more than ten years working with clients in the Middle East. From civil, power, waste, and oil and gas projects, to roads, rail, airport, commercial, sports and leisure, and residential schemes, Ron has worked on some of the world's largest projects. "We are thrilled to be welcoming Ron to Dubai," said Rania Tadros, Dubai office managing partner, Stephenson Harwood. "Ron's arrival, bringing a wealth of experience, is a milestone in the development of our construction practice. We've set an ambitious target to grow our contentious and non-contentious construction offering over the next five years, with the aim of it becoming a multi-partner practice with a number of additional associate hires too. "The construction and projects market is booming in the GCC, with contract awards for related work hitting a record of US$209 billion in 2023. The GCC alone has a projects pipeline in excess of US$2.7 trillion. There's never been a more important time to invest in our capabilities in this area, and Ron's extensive expertise will be key in our ability to help our clients capitalise on these opportunities." "It's an exciting time to be involved in construction in the GCC, with activity increasing year on year," said Ron. "We're seeing an increase in foreign investors into the region, which in turn is helping to boost the construction market. The projects involved are often vast and hugely complex, and that's where we can add real value by bringing experience honed over decades of practice, and genuine insight into the region and industry. We have ambitious plans to grow our construction capabilities in the region so that we can support more clients on bigger projects and disputes." The Stephenson Harwood construction and engineering team provides specialist advice on related projects and disputes around the world. It acts for a diverse client base of contractors, government bodies, public authorities, private developers, funders and other stakeholders involved in high value construction and engineering work. The team advises on matters including commercial, industrial, retail, hotel and leisure, energy, utilities and other major projects such as large engineering schemes and infrastructure projects.  
04 October 2024
Press Releases

STEPHENSON HARWOOD SUCCESSFULLY REPRESENTS NARCISO IN LANDMARK DIFC COURT DISPUTE

Law firm Stephenson Harwood Middle East LLP has recently acted for the Claimant, Narciso, in a landmark case (Narciso v Nash (ARB 009/2024)), which was held before the DIFC Court of First Instance.  This case is of particular significance as it represents the first time the DIFC Court has dealt with a DIFC-LCIA arbitration clause following the issuance of the Decree No. 34 of 2021 concerning the Dubai International Arbitration Centre ('Decree 34'), which came into effect three years ago. Decree 34 abolished the DIFC Arbitration Institute ('DAI'), the administering body of the DIFC-LCIA Arbitration Centre, and the Emirates Maritime Arbitration Centre ('EMAC') transferring the rights and obligations of both arbitration centres to the Dubai International Arbitration Centre ('DIAC'). Narciso, a UAE-incorporated construction company, had entered into a subcontract with Nash, also a construction company, in April 2020. This included an arbitration clause under the DIFC-LCIA Arbitration Centre Rules. Following a dispute, Narciso terminated the subcontract in July 2021. Having terminated the subcontract, Nash applied to DIAC to appoint an arbitrator, which led to procedural complications and a subsequent claim being filed in Sharjah by Nash. Narciso obtained an interim anti-suit injunction from the DIFC Court to halt the Sharjah proceedings, arguing they breached the original arbitration agreement. Nash made an application to discharge the injunction on various grounds, including that the arbitration agreement in the subcontract was no longer effective given the Decree. The DIFC Court upheld the injunction, confirming its jurisdiction as the supervisory court due to the chosen seat of arbitration and that DIFC Court was mandatorily required to apply the Decree, such that the arbitration agreement was deemed valid. It went on to state that even if that was not correct, in the DIFC Court's view the Decree did not conflict with party autonomy. Stephenson Harwood partner Mark Lakin said, "This decision alleviates some of the concerns about the Decree's effectiveness, ensuring that parties with existing DIFC-LCIA clauses can still pursue arbitration in the UAE. This will be of particular interest to any parties who still hold such DIFC-LCIA arbitration clauses within their contracts.  Furthermore, this decision signifies DIAC's validity as clearly demonstrating that both the Decree and DIFC-LCIA arbitration clause are still valid, effective and enforceable." The Stephenson Harwood team was led by Dubai-based partner Mark Lakin, who was supported by managing associate Magda Kofluk and associates Samantha Martin and Mayss Akasheh.  
04 October 2024
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