The DIFC Prescribed Company Regulations 2024 (New PC Regulations) were enacted on July 15, 2024. Replacing the former PC Regulations 2019 (and the 2020 and 2022 amendments thereto), the New PC Regulations aim to streamline...more
On 13 June 2024, the DIFC Court of Appeal (the "DIFC CoA") handed down a groundbreaking judgment in Huobi v Tabarak in which the Head of the Digital Economy Court, Justice Michael Black KC (the "Appeal Judge"), reviewed the...more
Background - In Dubai, there has been scope for jurisdictional conflicts to arise between the common law, English language Dubai International Financial Centre (DIFC) Courts, and the ‘onshore’ Dubai Courts, which are Arabic...more
On 18 April 2024, the Ruler of Dubai established the “Judicial Authority for Resolving Jurisdictional Conflicts between the DIFC Courts and the Judicial Bodies in the Emirate of Dubai” (New Judicial Authority). This new body,...more
The Law of Security 2024 (New Law) came into effect in the Dubai International Financial Centre (DIFC) on 8 March 2024 (Effective Date), replacing the previous Law of Security 2005 (Old Law). Modelled after the UNCITRAL Model...more
DIFC Court of Appeal Confirms Enforceability of Arbitral Awards Granting Interim Relief issued in Non DIFC-Seated Arbitrations - The Dubai International Financial Centre’s (DIFC) Court of Appeal has recently confirmed, in CA...more
In Neal v. Nadir [2024] DIFC A 001, the Dubai International Finance Centre ("DIFC") Court of Appeal held that provisional arbitration awards issued by tribunals seated outside the DIFC are enforceable within the DIFC. The...more
The Dubai Financial Services Authority (DFSA) has issued a consultation paper (CP 158) relating to proposed amendments to its Collective Investment Rules (CIR), which includes one proposed change in relation to credit funds,...more
To mark Riyadh International Disputes Week we wanted to share our Middle East International Dispute Resolution Compendium, which discusses recent developments in the dispute resolution landscape across the region including...more
A U.S. federal district court refused to compel arbitration in a contractual dispute concerning the supply of materials, products, and services for an oil and gas project being performed by defendants in Saudi Arabia. The...more
The recent changes to the UAE Federal Arbitration Regime (set out in Federal Decree 15 of 2023 (“the Amendment”) have been rightly welcomed by the arbitration community, especially in relation to the regulation of...more
The recent judgment of the Dubai International Financial Centre (DIFC) Court of Appeal in Panther Real Estate Development LLC v Modern Executive Systems Contracting LLC [2022] DIFC CA 016 provides guidance on common issues in...more
Earlier this month, the Commissioner of Data Protection of the Dubai International Financial Centre (DIFC), a financial free-zone in the United Arab Emirates (UAE), issued the first adequacy decision regarding the California...more
The Dubai International Financial Centre (DIFC) is a prestigious financial free zone in the United Arab Emirates (UAE), established to diversify Dubai's economic resources and attract capital and investments to the region....more
On August 9, the Dubai International Financial Centre Authority (DIFC) Commissioner of Data Protection issued a “first-of-its-kind” adequacy decision, declaring California’s data protection regime as “substantially equivalent...more
In recent years, regulators within the United Arab Emirates (the UAE) have worked to foster an environment for the sustainable growth of the UAE virtual asset sector through the enactment of several regulatory measures...more
The Dubai International Financial Centre urges companies to protect personal data when using artificial intelligence. On 18 April 2023, the Dubai International Financial Centre (DIFC), a financial free zone with its own...more
It is no secret that the Dubai International Financial Centre (DIFC) is having discussions with over 50 hedge funds regarding the establishment of asset management and fund operations in the DIFC. Considering the rapid and...more
The new regime specifies licensing and reporting requirements for a range of activities related to virtual assets in the Emirate of Dubai. On February 7, 2023, the Dubai Virtual Assets Regulation Authority (VARA) adopted...more
The regime introduces rules on various crypto tokens, including cryptocurrencies and stablecoins, in the Dubai International Financial Centre. On November 1, 2022, the Dubai Financial Services Authority (DFSA) crypto...more
With Dubai Arbitration Week approaching, the Dubai International Arbitration Centre (“DIAC”) will again return to the fore of discussion amongst the arbitration community. As a contribution to the debate around whether DIAC...more
United Arab Emirates - The United Arab Emirates, or UAE, which comprises seven Emirates (i.e., Abu Dhabi, Dubai, Sharjah, Fujairah, Ajman, Um Al-Quwain, and Ras Al Khaimah) is an increasingly popular destination for...more
The DIFC Court of First Instance determined it had jurisdiction to grant injunctive relief in support of an ongoing dispute in onshore Dubai....more
DIFC Court jurisdiction – Judicial Authority Law – Syndicated agreements - Introduction In a decision that will be of particular interest for insurers and lenders entering into syndicated agreements, the Dubai...more
What this Article Discusses - Termination for fundamental breach under DIFC Contract Law – failure to give notice of termination within a reasonable time – whether a reservation of rights extends the time period for...more