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Liquidation and Winding up of a company in DMCC DMCC Company Regulations 2020 On 02 January 2020, the Dubai Multi Commodities Centre (DMCC) issued and promulgated the New Company Regulations 2020 ('Regulations'), which were to replace the former DMCC Company Regulations of 2003. They were so reconfigured in order to…
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Contracts, Negotiations and Enforcement in the United Arab Emirates: Overview Question Set: Formation of contracts Authority and capacity Question Body: What are the authority/capacity rules for entering contracts? Answer Body Individuals UAE Federal Law Number 5 of 1985 on Civil Transactions Law (Civil Code) allows all individuals to enter into…
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Effect of Recent Bankruptcy Legislation on Those Businesses Facing Difficulties on Account of Cash Flow Issues The recent overhaul in the laws governing insolvencies of domiciled companies in the United Arab Emirates (UAE) vide the new UAE Bankruptcy Law (December 2016) ensures that most corporate insolvencies are resolved through the…
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Negligence and Mismanagement by a Manager in a Limited Liability Company: UAE Companies Law A limited liability company (LLC) is a form of a company that is subject to the regulations of laws and the governing law for the management of a company in the United Arab Emirates (UAE) is…
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Challenging Expert Appointment in the UAE The appointment of an expert in UAE (United Arab Emirates) can be challenged on the basis that the expert failed to carry out his duties in an impartial manner or without prejudice to either one of the parties. The expert appointed has to at…
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Procedural Overview onto the rules of arbitration at the Ras Al Kamiah Reconciliation and Commercial Arbitration Center Although a dispute may be resolved through court litigation, the parties in the new era are increasingly submitting their disputes for mediation, arbitration or any other Alternative Dispute Resolution (“ADR”). Since a long…
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Law Governing Conspiracy for Abetment of Crimes Urging a person to commit an illegal act or crime is as much an offence as the carrying out of such criminal offence. Federal Law Number 3 of 1987 promulgating the Penal Code (“Code”) in the United Arab Emirates (UAE) mandates that any…
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Termination in case of Terminal Illness, UAE It has been an unexpectedly enlightening experience to see patients' primary concern once they are diagnosed with a terminal illness is whether they will be able to continue working while they are receiving their treatment or not and the extent of treatment on…
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Laws and Regulations Governing Insurance Brokers in the UAE An Insurance Broker is defined under Federal Law Number 6 of 2007 (in respect of the establishment of the Insurance Authority and Regulating the Insurance Practice) as: “The person mediating independently in insurance or reinsurance operations between the insurance/reinsurance applicant on…
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IP Issues in Social Media Content During the Congressional questioning of Mark Zuckerberg, CEO of Facebook, in April 2018, Zuckerberg said: “Every piece of content that you share on Facebook, you own, and you have complete control over who sees it and … how you share it, and you can…
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Extradition Treaty of UAE In International Law, extradition is when one state (Requesting state) requests another state (Requested state), to effect the return of a person for trial for a crime punishable under the Requesting state's laws and committed outside the Requested state (state of refuge). The extraditable person could…
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Sweat Equity Shares A Achar “A small piece of a big pie is better than a large piece of a small pie.” Those who embrace this adage willfully are the most successful entrepreneurs and investors in the world. If your heroes are the likes of Zuckerberg, Bezos, Gates, or Musk,…
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Amendments Introduced by Federal Law Number 8 of 2019 the UAE Family Law The Abu Dhabi Statistics Centre (ADSC) had revealed that about 30 percent of the divorces that took place in 2018 in the United Arab Emirates (UAE) was dissolved within the first year of marriage. A total of 5,467…
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Economic Substance Regulation 2019 and 2020 UAE The UAE Cabinet issued the Cabinet of Ministers Resolution Number 31 of 2019 concerning economic substance regulations in the UAE (the "Regulations") on 30 April 2019. The Regulations require the UAE entities ("Relevant Entities") that carry out any of the activities listed as…
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