Abu Dhabi Archives - Page 24 of 24 - LexisNexis Middle East

Abu Dhabi: Small Claims Court to be Established

Al Bayan, 20 June 2021: A new Small Claims Court is going to be established in the Emirate.

It is aimed at enabling relevant disputes to be settled quicker.

It is also aimed at protecting the rights of all parties to a dispute.

The court will be able to settle civil, commercial and labour disputes and claims for less than 500,000 AED.

Its final decision will be issued in one session.

Cases will be heard within 15 days of being registered.

Also reported in Gulf News (United Arab Emirates) on 20 June 2021.

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The Financial Services Regulatory Authority of Abu Dhabi’s Global Market has announced it has updated its venture capital managers framework.

The authorisation criteria and ongoing regulatory requirements have been amended.

The aim is to provide more flexibility in permissible investments in target entities.

The Authority has also approved amendments to its fees framework.

The amendments extend the scope of those who can pay fees on behalf of authorised entities and the methods by which fees can be paid.

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Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.