As we approach the third anniversary of the implementation of the Bankruptcy Law, Charles Laubach and Rahat Dar take a look at the current insolvency framework available in the UAE (including in the two financial free zones: Dubai international Financial Centre at the Abu Dhabi Global Market, each of which has adopted its own insolvency rules) to consider whether the aspirations underpinning the Bankruptcy Law have been realised.
Category: Publications
UAE Law Considerations on Asset Deals, Legal Era Magazine
This article looks into the method of structuring an M&A transaction in the UAE where the buyer acquires the assets and liabilities of the target company (or in certain instances, the assets and liabilities of a certain business segment operated by the target company).
Employment (UAE chapter), 2nd edition, Chambers Global Practice Guide
This chapter acts as the ultimate guide on all aspects, and trending topics of Employment in the United Arab Emirates. Such topics include; terms of employment, restrictive covenants, data privacy law, foreign workers, employment disputes and many more.
Keeping up with the Trend: The New Dubai International Financial Centre Insolvency Law
This article explores the reformation of the insolvency regime by the DIFC which had been motivated by the need to provide more efficient and practical insolvency and restructuring mechanisms to debtors as well as creditors. This article provides an understanding of the new Dubai International Financial Centre (‘DIFC’) insolvency law; DIFC Law 1 of 2019.
The UAE’s new Arbitration Law: making the Emirates a global arbitration hub
This article was first published in the IBA Litigation Committee newsletter in May 2019, and is reproduced by kind permission of the International Bar Association, London, UK. © International Bar Association.
Significant Changes to UAE’s Civil Procedure Code, ASIAN-MENA Counsel
This publication explores the significant changes to UAE’s Civil Procedure Code; although the changes are welcome, they are considered to put pressure on litigants to plead their cases within a relatively short period of time. To gain an in-depth understanding, read the full publication.
Netting arrangements made enforceable in the UAE, ASIAN-MENA Counsel
A new statute makes it clear for the first time that the netting and setoff provisions in qualified financial contracts are valid and enforceable under UAE law. To learn more, read the full article.
Islamic structured products: too complex for their own good? – Islamic Finance News
There is no doubt that Sukuk continue to be the star performer of the Islamic finance industry, and are regularly deployed for an array of transactions including infrastructure development, Basel III liquidity requirements and even social welfare funding. However, other Islamic structured products have simply not attracted a similar level of interest in the UAE, despite the obvious advantages these products offer to companies looking to manage risk exposure (particularly in the context of trade finance, where plain vanilla hedging instruments may not be
sufficient) and to sophisticated investors looking to customize their investment portfolio to meet specific risk return objectives. Rahat Dar asks; why haven’t these Islamic structured products found a ready market in the UAE?
Acquisition Finance (UAE chapter), Getting the Deal Through
This globally relevant Q&A of Lexology, Getting The Deal Through, focuses on key questions centered around Acquisition Finance in the United Arab Emirates. Some topics covered include; general structuring of finance, enforceability of foreign judgements, enforcement of claims and insolvency and many more.
Off-Plan Sales in Dubai: Risks and Rewards, ASIAN-MENA Counsel
Opportunities abound for investors, but there are some important considerations before making an off-plan investment. Learn everything you need to know by reading the full article.