Dispute Resolution Archives - Fichte & Co

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October 21, 2020

Overview: Enforcement Proceedings of Domestic and Foreign Judgements in the UAE

Introduction In the UAE, the general procedures for the execution and enforcement of domestic and foreign judgements are set out in Federal Law No. 11/1992 and its recent amendments (Cabinet Decision No. 57/2018 and Cabinet Decision No. 33/2020) (together the “Civil Procedure Code”). Enforcement of domestic judgements Enforcement proceedings may be initiated after obtaining a...

October 20, 2020

A Partnership Between Fichte & Co. and Middlesex University Dubai

Since 2016, the partnership between Fichte & Co and Middlesex University Dubai, has focused on establishing a common platform in order to cultivate law students for their transition from academia to the professional industry. The partnership was also sealed by the signing of a Memorandum of Understanding, where both parties committed to a mutually beneficial...

Dubai Court Dismisses Oligarch’s $115 Million Damages Claim Against Ex-wife

A Russian oligarch's claim for $115 million in damages against his former wife, after a superyacht was impounded in Dubai as part of a costly divorce battle, has been dismissed by the emirate's highest court. The 115-meter MV Luna has been held in Dubai since February 2018 while lawyers for oil and gas tycoon Farkhad...

September 27, 2020

NEW UPDATES: Economic Substance Regulations in the UAE

On 10 August 2020, The Cabinet of Ministers Issued Resolution No.57/2020 concerning Economic Substance Regulations (‘’Resolution 57’’). Resolution 57 amends and repeals the Cabinet of Ministers Resolution No. 31/2019, Cabinet Ministers Resolution No. 58/2019, and Cabinet Ministers Resolution No. 7/2020. Furthermore, following the issuance of Resolution 57, H.E the Minister of Finance issued new guidance...

The New Bankruptcy Law – Stepping up to Challenges in a Post-pandemic Economy

Throughout the United Arab Emirates (UAE), a collective frustration existed with insolvencies due to the time-consuming nature and significantly low recovery rates, which stemmed from outmoded insolvency laws under Book 5, Article 645-900 of Federal Law No.18/1993 (the ‘’Commercial Code’’). Under these ambiguous provisions, it was a criminal offense for directors to fail to petition...

September 20, 2020

How to Safely Close Down a Business in Mainland, UAE?

Introduction The two most prevalent routes that have been undertaken for liquidating a company are either ‘voluntary winding up’ specified under the Federal Law No. 2 of 2015 -The Commercial Company law (the “Companies Law”) and the Department of Economic Development setting out formal requirements for operating entities; or via ‘bankruptcy’ regulated by the Federal...

August 30, 2020

RAKEZ is Now Offering 100% Ownership

RAKEZ OFFERS 100% FOREIGN OWNERSHIP IN MAINLAND WITH FDI COMPANY SET-UP In response to the UAE Government’s efforts to provide relief to businesses during the COVID-19 pandemic, a number of free zones have announced major relief packages including fee waivers, rent holidays, and waivers of penalties and also introduced new license packages with a reduced...

August 12, 2020

Everything You Need to Know about End of Service Gratuity in the UAE

The End of Service Gratuity (‘EOS’) is a benefit granted by the UAE Federal Law no. 8 of 1980, as amended (‘Employment Law’) to the expatriate workforce in the private sector. Consequently, the benefit applies to expatriate employees in UAE mainland companies and in UAE free zone companies, that operate under the remit of the...

FICHTE WEBINAR: COVID-19 Impact on the UAE Real Estate Market

Free Live Webinar As the Coronavirus outbreak continues to affect the real estate market in the UAE, the quantum of the impact in this industry will depend on how long the economy takes to get back on track. The webinar focused on the COVID-19 impact on the real estate market, obstacles, opportunities, and the way...

Website Cloning – A Business Reality with Intricate Legal Consequences

The newest and most effective marketing tool for business exists nowadays in the digital world. Whereas a good and attractive website has all the prerequisites to have a strong impact on the market share and positioning of a firm, it has the drawback of exposing important and not always protected content to infringements. Website cloning...