Insight Category: News
In a business situation, particularly in cases involving the sale or purchase, or partial sale or purchase, of an asset, a party may seek to secure future rights to acquire something which still vests in the other party. In such cases the rights may come in the form of an option or a right of… Continue reading Heads or tails – Two sides of the same coin: A look at the fundamental differences between an option and a right of first refusal...
This article analyses a significant ruling issued by the Dubai Court of Cassation in Case No. 445 / 2024 / 208, which involved a financial claim arising from a subcontract dispute. The case sheds light on the need for clarity in drafting arbitration clauses in commercial contracts and the requirement for such clauses to exclude… Continue reading Successful Challenge of Ambiguous Arbitration Clause...
In a recent judgment issued by the Dubai Court of Cassation in Case Number 440-2024-329, key principles regarding the statute of limitations applicable to promissory notes were clarified. The court’s decision addressed the proper interpretation of the limitation period for claims arising from promissory notes, emphasising the importance of distinguishing between negotiable instruments subject to… Continue reading Dubai Court of Cassation Clarifies Limitation Periods for Promissory Notes in UAE Commercial Transactions...
In a recent judgment (Case No. 440 of 2024, Civil Arbitration), the Dubai Court of Cassation has confirmed the position on the enforceability of arbitration clauses embedded in general terms of insurance policies. This ruling highlights critical considerations for insurers, policyholders, and legal practitioners dealing with arbitration clauses in the UAE. Factual Background The dispute… Continue reading Dubai Court of Cassation Ruling Nullifies Arbitration Clauses within UAE Insurance Policies...
This is also published in British Chamber of Commerce Dubai As 2024 has come to an end, the UAE has seen numerous changes to its legal provisions in the way of new laws and amendments to existing provisions. These changes have either been implemented in 2024 or became effective as of 1 January 2025. BSA Law… Continue reading UAE legal milestones 2024-2025: Key reforms and their impact on business and governance...
This was originally published in Arabian Business. 1. What are the current licensing requirements for virtual asset trading in Dubai? The licensing of virtual asset activities in Dubai is governed by the Virtual Assets Framework (“VA Framework”) introduced by the Dubai Virtual Assets Regulatory Authority (“VARA”). Under Dubai Law No. 4 of 2022 (the “Virtual… Continue reading Trading crypto in Dubai? What you need to know about the latest court ruling...
This was originally published in British Chamber of Commerce Dubai The Gulf Cooperation Council (“GCC”) countries, traditionally known for their low-tax environments, have undergone significant transformations in their tax regimes over the past years. Historically reliant on oil revenues to sustain their economies, GCC nations have maintained minimal taxation systems for decades. However, declining oil… Continue reading Evolving tax landscapes in the GCC: Key developments and strategic implications for 2025...