The MENA Business Law Review No. 03/2022 is out!

The MENA Business Law Review No. 03/2022 is out! News developments

The MENA Business Law Review No. 03/2022 is out!

We are pleased to share the third edition of the MENA Business Law Review, the definitive business law reference in the Middle East and North Africa! In this edition:

ARBITRATION: Outcome-Related Fees Structures for Arbitration the UAE by Dr Tariq Mahmood FCIArb (33 Bedford Row), James Ng (Zhong Lun Law Firm) and Usama Munir (Schleuter Graf)

We explore the basic features and types of outcome-related fee structures (ORFS) for dispute funding and provide a detailed analysis of the UAE legal landscape of the acceptability of ORFS in arbitration proceedings.

LITIGATION: Comment on IPGL General Trading v. Horton Holding by Anson Cheung, Outer Temple Chambers

We share comments on this case, which raised interesting issues regarding the application and scope of the Duomatic principle to acts assented to by shareholders, with far-reaching practical consequences for a common practice in the UAE.

COMPANIES: A Guide to Saudi Arabia’s New Companies Law by Dr Qaisar Hamed Metawea, Lamisse Bajunaid, and Aziza Al Abbasi (Dr Qaisar Metawea Law Firm)

In this article, we provide a guide to the main areas of reform in Saudi Arabia’s new Companies Law concerning commercial and non-profit entities and analyse the impact of these reforms.

The New Regulation of Musataha Agreements over Commercial Land in the Emirate of Dubai by Jeremy Scott, Addleshaw Goddard (Middle East) LLP

In this article, we look in more detail at musataha arrangements in Dubai and assess the changes made regarding granting musataha rights over commercial land by government or government-related entities against its stated objectives.

CORPORATE GOVERNANCE: Solution to Executive Succession in UAE Family Businesses: The Board of Directors by David Chekroun (ESCP Business School), Megha Bansal (Deloitte) and Tanya Bansal (Abu Dhabi Department of Economic Development (ADDED))

This article assesses the rules and regulations regarding the corporate governance of family-owned businesses in the UAE, including the composition of the Board and its role in succession planning undertaken by the Nomination and Remuneration Committee. It also sets forth a series of recommendations on empowering the Board to facilitate a smooth transition of power amongst family businesses.

CYBERSECURITY: Financial Crime Challenges as We Enter Internet 3.0 by Karl Massi, Charles Russell Speechlys

The developing “crypto-economy” will become a significant part of the real economy in a very short time. This new digital mechanism for assigning, buying, selling and transferring assets brings with it novel issues regarding financial crime risk and security while mirroring some of the same vulnerabilities of the real economy. This article will explore some of the critical areas and how the UAE approaches them.

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Benjamin Filaferro