News and developments

Cryptocurrency

Navigating Regulatory Landscapes for Tokenized Assets in the UAE: Best Practices and Emerging Trends

Tokenized assets, more commonly known as digital securities or security tokens, have become increasingly popular as a means of raising capital and providing investment opportunities. They are digital representations of real-world assets, such as stocks, bonds, real estate, and commodities, that are recorded on a blockchain. The tokenization process allows for the creation of fractional ownership, increased liquidity, and the ability to trade assets on a global scale.
14 February 2023
Healthcare

Coping with Allegations of Medical Malpractice in UAE- A Defence Lawyer’s Perspective

Over two decades ago, an American psychiatrist at the University of Illinois, School of Medicine published an article [1] (“the Article”) on how physicians react to accusations of medical malpractice and suggested a range of strategies that they can use to diminish the emotional disequilibrium that accompanies this experience. Dr Charles’ findings were based upon survey and interview studies and extensive clinical experience going back to the mid late 1980’s- as well as being sued personally as a defendant in medical malpractice Court proceedings.
08 February 2023
Class Action

Strength in numbers – How class actions enable individual voices to be heard.

It may have happened to you. You made an investment in a publicly listed company based on their information, only to later learn it was misleading, or you purchased a product only to later discover it was harmful. In both cases, your loss might be less or more severe in either situation. If several people have experienced a comparable loss, it could be reasonable for them to combine their claims, so the total amount is significant enough to warrant a lawsuit. This is called a ‘class action’ lawsuit, represented by a group of people with related legal claims against one or more defendants such as investors, patients, consumers, or workers. Currently, the United Arab Emirates does not adopt a precise legal framework for class action lawsuits. This is because the legal system of UAE is based on the civil law system, which differs from the common law system where class actions are more frequent.
19 January 2023
Consumer

What Remedies Does a Buyer Have for Defective Goods Under UAE Law and English Law?

In international sale contracts, the difficulty is often in determining exactly what obligations the terms of the contract create. This difficulty is not always apparent in negotiating the contract but becomes apparent when there is a dispute in which the parties argue that the terms in question hold different meanings. Merchant traders want to know the standard which the law applies so they can plan their business often do not have fine legal semantics in mind during contract negotiation. But they are subject to the niceties of the law in fixing their rights and obligations. [1] This being stated, it would seem to follow that a high degree of legal certainty and predictability is required. This paper will consider the extent to which the law of the United Arab Emirates (“UAE”) and the English law relating to termination recognize and provide for this need.
11 January 2023
Press Releases

Out with the Old, In With the New: Comparing DIFC and ADGM Arbitration Law

The UAE has implemented a major initiative to update its laws and procedures, by adopting best international practice to encourage foreign direct investment and trade more generally with the UAE. There was a new Companies Law in 2015, a Bankruptcy Law in 2016, tax laws in 2017, and a Federal Arbitration Law and Foreign Direct Investment Law in 2018. In addition to that, Federal law No. 18 of 2017 amended the Companies Law to allow the authorities to dis-apply the requirement for 51% local ownership of UAE companies. A clear message is being sent to the world that the UAE is open for business, there is a strong modern structure in place in a form which is familiar to the big international players and which will serve their business needs.
28 October 2019
Press Releases

Arbitration in The UAE Under the New Arbitration Law

Arbitration practice and procedure has developed rapidly in the UAE, and the courts now take a far more pro-active role in supporting the arbitration process and enforcing arbitral awards. This movement can be seen progressively in Cassation Court judgments over the past ten years and is now recognised in Federal Law No. 6 of 2018 on Arbitration (the “new Arbitration Law”), which repealed and replaced the old arbitration law in Articles 203 to 218 of Federal Law No. 11 of 1992. The old law did not reflect international best practice and left too much scope for the award debtor to avoid making payment
28 October 2019
Galadari Advocates & Legal Consultants