Dispute Resolution Archives - Fichte & Co

August 29, 2018

All You Need to Know About Debt Recovery Procedures in the UAE

Debts can be traced back to that time before the barter system was replaced with the metallic currency. At that time, people exchanged services and goods for other services and goods in return. But, what if there were no current services or goods to be exchanged with, and what if one party failed to supply...

Overview of the Bankruptcy Proceedings and Preventive Measures in the UAE

Definition of bankruptcy: Legally speaking, bankruptcy is an expression used to describe a legal status in which a natural (individual) or legal (company) person owes a sum of money to third parties and ceases to pay its debts when they fall due because of its troubled financial position and insolvency. Historical background: The Federal Bankruptcy...

UPDATE: FTA Clarifies the VAT Treatment of Compensation Payments

The Federal Tax Authority (FTA) has recently published a clarification on VAT treatment of compensation type payments, such as payments to settle disputes, and other contractually agreed compensation. Where a payment or fee is not a consideration for a supply, there is no VAT due. Often times, there are penalty clauses or liquidated damages clauses...

Will The New UAE Maritime Law Serve Shipowners?

Geographically, as being in the centre of the World, the UAE is arguably an “ideal” Maritime location. As a gateway to Europe and America from the Fareast, one of the largest Ports in the World, state of the art warehousing facilities and a tax-free nation – UAE has much to offer to be a Maritime...

Time-bars, time limits and deadlines for legal cases under UAE law

A time-bar (or a statute of limitations as known under common law jurisdictions) is a statutory time limit for the enforcement of a civil claim through legal proceedings. As such a time-bar normally does not eliminate the claim, but it offers the other party an effective defence against its enforcement, thus it is a procedural...

Enforcement Of Foreign Judgements 2018

Fichte & Co is thrilled to announce our contribution to Enforcement of Foreign Judgement 2018. Our Managing Partner, Jasamin Fichte and Partner, Alessandro Tricoli have contributed to the 3rd edition of ICLG, the International Comparative Legal Guide. The UAE chapter consists: Various regimes applicable to recognising and enforcing judgments in UAE jurisdiction and the list of...

Legal Considerations On Blockchain-Based Bill Of Lading

The utility of blockchain technology extends to trade finance and shipping, as recent developments in the shipping industry have shown. Shipping companies, technology firms, and government agencies are reportedly collaborating to use blockchain technology to better industry practices and solve existing problems. Further, there have been initial coin offerings launches to obtain funds for developing...

January 28, 2018

Endofa could be stuck with million dollar claim in Dubai

A claim in Dubai of close to USD 1 million against Endofa will likely disappear because the bunker company is now closing its company in the desert state, says a local lawyer specialized in shipping. The claim stems from a failed oil transaction in Africa. Danish bunker company Endofa could be stuck with a disputed...

January 21, 2018

A Comparison: Emirates Maritime Arbitration Centre and DIFC-LCIA Arbitration Centre

Approximately 10 years after the establishment of the DIFC-LCIA Arbitration Centre (“DIFC-LCIA”), the Emirates Maritime Arbitration Centre (“EMAC”) was officially launched. Like arbitrations conducted under the auspices of the London Maritime Arbitrators Association and the Singapore Chamber of Maritime Arbitration, the establishment of the EMAC is symbolic of the UAE’s continued endeavor to keep pace...

January 18, 2018

An Overview of the Appeal Process in Dubai Court

Dubai Court was founded in the year 1970 and has come to be known as prompt and equitable in the implementation of justice. Dubai Court is an integrated unit consisting of: The Court of First Instance The Court of Appeal The Court of Cassation - the highest court in the judicial system This article will...