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The prodigious and fortuitous impact (and, speed) of the global financial crisis has left a lasting legacy on many. Questions have been raised in past as to what led to the crisis, people who were instrumental in driving the downturn and people affected by same. Speed and force without direction…
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Extension of Time in Construction Contracts The construction contracts are generally prepared as per Fédération Internationale des Ingénieurs-Conseils (the FIDIC) red books 1987 and 1999, yellow book and silver book contract forms specifically in UAE to deliver projects. The legal provisions applying to such contracts are UAE Civil Code, Federal…
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Joint venture is an agreement between two or more parties wherein they principally agree on developing a new asset or entity by infusing equity for a term. In a joint venture transaction, parties agree to co-operate with each other and term of the joint venture may be defined or open.…
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Construction Insight: The sight of a rainbow in the middle of a desert is a rather recherché glimpse. The United Arab Emirates, however, is not a conventional desert panorama come true. Take for example the construction industry in the region. There is an interesting mix of cultures…
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While driving back from work yesterday I noticed a renowned hotel brand had popped up in my community out of nowhere. A few days back that same building was supposedly a mixed-use development, but it now boasts the logo of a luxury hotel chain. As discussed in the first installment…
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Decree Number 21 of 2013 – One Year Later We’re all familiar with the story. Mr. A buys property off-plan. Developer advises property completion will occur by 201X. Mr. A awaits handover with anticipation. 201X comes and goes, with no news on the property. Developer or sales agent contact Mr. A…
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Obvious, really, yet “performing due diligence” is a phrase readily associated with the legal industry. Reminding ourselves of the basic definition realizes that we each “perform due diligence” hundreds of times per day. We might check the weather forecast or traffic reports before leaving the house, read reviews before selecting…
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Questions that are generally debated these days within business and legal diasporas pertain to the recession aftermath. These questions seek to inquire matters such as i) what led to the recession, ii) could it have been prevented and; iii) what do we learn from this precedent? For instance, let us…
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