Overriding an agreement to arbitrate, a DIFC Court of First Instance rejects an application to grant a stay
On 6 March 2012, Justice Sir David Steel of the Court of First Instance of the Dubai International Financial Centre – DIFC – rendered a decision refusing to grant a stay of the proceedings, and ignoring an option in the underlying contract to opt out of the Court’s jurisdiction by referring to LCIA arbitration.
In summary of the facts, Injazat Capital Limited and Injazat Technology Fund ITF (Claimants) brought a claim before the Court of First Instance against Denton Wilde Sapte DWS (Defendant) for alleged negligence and failing to advice the Claimant in regard to the existence or exercise of an option to sell shares it acquired under a Share Subscription Agreement.
DWS submitted a claim [...]
Jerusalem Arbitration Center: Merchants of Peace
Last week I had the good fortune to attend a reception in Washington D.C. with various arbitration luminaries announcing the inauguration of the Jerusalem Arbitration Center.
With almost $5 billion in annual trade between Palestine and Israel, it is imperative to establish a neutral forum for resolving business disputes. JAC is established under the auspices of the International Chamber of Commerce. Zahi Khouri and Yara Asad of ICC Palestine and Oren Schachor and Baruch Mazor of ICC Israel were on hand to announce the partnership. JAC’s goal is to establish, in John Beechey’s words, “a truly neutral and independent forum.”
Catherine Rogers at Penn State has been actively invol [...]
Key Developments in Relation to Arbitration in Dubai
The International Bar Association annual conference in Dubai in November put the spotlight on the arbitral regime in Dubai. Several “hot topics” were discussed, including the possibility that counsel representing parties in arbitrations in Dubai would be charged a hefty fee by the Dubai government and the prospect of a new United Arab Emirates (UAE) federal arbitration law based upon the UNCITRAL Model Law. We learned that the former was not a real concern for lawyers not based in the country full-time; while the latter is apparently back on the table after it was first raised in 2008.
Questions regarding arbitration in Dubai usually focus on enforcement in general, and, particularly, th [...]
Radio Interview: Dispute Resolution in Saudi Arabia
Jerome Martin, Senior Associate at law firm Clyde & Co talks to Dubai Eye’s Business Breakfast radio show about Dispute Resolution in Saudi Arabia. I am posting this note and the link to listen to the podcast in full the for the benefit of our readers.
“What chances you have if it all goes wrong and what companies are moving and looking to do business there.
Jerome goes on to discuss the following in more detail:
* There are a number of reasons as to why Dubai based companies should be thinking about Dispute Resolution
o The kingdom is engaged in unprecedented amounts of spending and presents a lot of opportunities for companies to benefit. They need to understand what their l [...]
Is It Time to Amend the Articles Regulating Arbitration in Qatar?
There are two legal jurisdictions in Qatar with laws containing specific provisions related to arbitration: the State of Qatar and the Qatar Financial Center (the “QFC”). The latter is a separate jurisdiction with its own laws within the state. The QFC Law provides for the arbitration of commercial disputes in relation to contracts that have been concluded under QFC Law. The QFC has set Arbitration Regulations in 2005, which are based on the UNCITRAL Model Law; however, until today there were no cases trialed under the QFC Rules.
Until today there is no independent arbitration law in Qatar. Articles 190-210 of Law No 13 of 1990 The Civil and Commercial Code of Procedure (the “CCP”) r [...]
Egypts Unrest – Dubai’s Moment of Opportunity?
January 28, 2011 – violent protests rocked Egypt;
February 2, 2011 – political anxiety and ongoing unrest in Egypt threaten to shake other economies;
February 11, 2011 – Mubarak resigned.
March 22, 2011 – fire at Egypt interior ministry;
April 17, 2011 – ex-ministers to be tried.
Recently, a significant amount of unrest has occurred in Egypt in which traditionally the leading arbitral institute for the Middle East resides. The Cairo Regional Centre for International Arbitration (the Cairo Centre) has enjoyed being the leading international arbitration in the Middle East region for several years; however, the regional unrest may dissuade international businesses from going to Egypt [...]
