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New instruments announced by Dubai Courts to expedite and support enforcement of judgments and arbitration awards
On 22 February 2023, Dubai unveiled a new strategic plan that is set to further advance its judicial system towards a world-class model for efficiency and service excellence. The benefits that will be derived by litigants in Dubai, especially those with high-value claims, cross-jurisdictional disputes, arbitration matters, and litigants
Five years on: developments and dispute resolution under the Canada-European Union Comprehensive Economic and Trade Agreement (CETA)
Overview The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is a free trade agreement between Canada and the European Union, which came into effect in 2017. The agreement aims to deepen the economic relationship between the two regions and facilitate the flow of goods, services, and investments. One
UAE High Court finds ICC ADGM office subjects Abu Dhabi seated ICC arbitrations to the jurisdiction of the ADGM Courts
Brief Two parties to a construction contract agreed that all disputes would be subject to the International Chamber of Commerce Rules of Arbitration and for the arbitration to be seated in Abu Dhabi. The arbitration award was challenged by one of the parties before the Abu Dhabi Appeals Court.
Corporate income tax disputes under the new UAE Federal Decree-Law No. 47/2022 on the Taxation of Corporations and Businesses
The new UAE law on taxation of corporate (“Corporate Tax Law”) and business income was promulgated on 03 October 2022 and applies to tax periods commencing on or after 01 June 2023. The Corporate Tax Law does not define its own dispute procedure system. The Corporate Tax Law is
Supreme Court of Canada rules inoperability of arbitration agreement in insolvency proceedings (Peace River v Petrowest)
This analysis was first published on Lexis®PSL on 07 December 2022 and can befound here. On 10 November 2022, in a unanimous decision, the Supreme Court of Canada rendered its ruling in the matter of Peace River Hydro Partners v Petrowest Corp. The decision provides clarification on when insolvency proceedings
Dubai High Court denies enforcement of arbitration award against foreign party (Article III of the New York Convention)
The Dubai Cassation Court, the highest tier of court litigation in the Emirate of Dubai, recently rendered judgment rejecting enforcement of an arbitration award against a foreign award debtor on the basis that the debtor does not have a domicile in the United Arab Emirates. Furthermore, the Dubai Cassation
Arbitration in Europe: new rules on third-party litigation funding
On September 13, 2022, the European Parliament passed a resolution to propose a directive (the “Directive”) on the regulation of third-party litigation funding. Although not obvious at first sight, the Directive would also apply to arbitration procedures or other alternative dispute resolution mechanisms.[1] The European Parliament recognizes that, although
Landmark Ontario Appeals judgment in construction dispute permits rescission of surety bond
There has been a recent change in the way surety bonds will be treated in the construction industry as a result of the Ontario Court of Appeal decision in Urban Mechanical Contracting Ltd. et al v. Zurich Insurance Company Ltd., 2022 ONCA 589 (“Urban”). The decision makes it possible
UAE Federal Court rules no tax penalties on payment delays caused by the tax authority
Brief It was evidenced before the Federal Primary Court that the taxpayer had informed the Federal Tax Authority of an obstacle in the online tax filing portal that prevented the taxpayer from being able to file their tax returns. The taxpayer continuously requested resolve of the issues since early
Canada orders divestment of Chinese foreign investors in Canadian critical mineral companies
Decision On 02 November 2022, the Honorable François-Philippe Champagne, Minister of Innovation, Science and Industry, confirmed the decision by the Government of Canada ordering the divestiture of investments by three Chinese foreign investors as follows: Sinomine (Hong Kong) Rare Metals Resources Co., Limited is required to divest itself of
Significant judgment by Dubai Court orders payment of damages in cryptocurrency instead of fiat currency
In a dispute over investment in Dash cryptocurrency, one of the more well-known and established altcoin cryptocurrencies, the Dubai Primary Court ordered payment to the plaintiff in Dash (as opposed to in Dirhams, US Dollars, or UK Pounds). This is one of the first cases in the UAE where
Highlights of the recently published ICSID 2022 Annual Report
The International Centre for Settlement of Investment Disputes of the World Bank (ICSID) published its 2022 Annual Report on 14 October 2022. Highlights of the report include: 346 cases administered by ICSID, marking the largest number of cases ever administered at ICSID in a single fiscal year. A record
UAE Appeals Court invalidates cryptocurrency agreement and defines Ponzi scheme in ‘OneCoin’ transaction dispute
In a rare judgment, the Appeals Court of Ras Al-Khaimah (UAE) applies the elements of contract formation of the Federal Civil Transactions Law to invalidate a cryptocurrency transaction – finding that the object of the agreement did not fulfill the requirements of being “possible, specified or specifiable, and negotiable”.
Canada trade arbitration disputes arising from the European energy crisis
In 2020, Canada was the tenth largest partner of the EU for goods exports and the 16th largest partner for EU goods imports. The EU-Canada Comprehensive Economic and Trade Agreement (CETA) entered into force provisionally on 21 September 2017. As a modern and progressive EU trade agreement, CETA provides
Dubai Court rejects Bitcoin claim lacking proof of crypto-wallet ownership (and solutions for digital asset disputes in the UAE)
Dubai Court rejects claim of loss of 608 Bitcoins for lack of evidence of crypto-wallet ownership. Dubai Primary Court rules: “…the plaintiff had transferred the encrypted currency “Bitcoin” to the defendant…did not indicate how to prove the ownership of the account to the defendant, noting that by referring to
UAE Ministry of Justice confirms enforcement of English Court judgments on principle of reciprocity
On 13 September 2022, Judge Abdul Rahman Murad Al-Blooshi, Director of International Cooperation Department of the Ministry of Justice, issued a communique to His Excellency Tarish Eid Al-Mansoori, Director General of the Dubai Courts, confirming the enforcement of judgments issued by English Courts based on the principle of reciprocity.
UAE Supreme Court orders default termination clauses only exercisable by beneficial party
Brief In June 2022 the UAE Federal Supreme Court issued a judgment finding that default termination clauses cannot be exercised by both (or all) parties to a contract — if that termination clause inures to the benefit of one of the parties with a standing claim. The reasoning rendered
Canada-EU Trade Agreement discussions on expropriation and treatment (FET) of investors
The Comprehensive Economic and Trade Agreement (CETA) between Canada and the 28 European Union countries has been ratified by 15 member states as of February 2022 and is expected to conclude ratification in due course. The CETA will establish a permanent tribunal of fifteen members to hear investor claims.
UAE Court judgments on construction works
The Wasel & Wasel team have developed a guide on construction contracts and works from leading court judgment authorities from the UAE Federal Supreme Court, the Dubai Cassation Court, and the Abu Dhabi Cassation Court. This is a quick reference guide to court judgments addressing matters such as liabilities of employers, contractors,
2022 ICSID Arbitration Rules: Seven key takeaways
On 01 July 2022, the 2022 ICSID Rules and Regulations for resolving international investment disputes came into effect. This is the first amendment to the ICSID Arbitration Rules since 2006 aimed at modernizing the ICSID procedures. Here we cover seven key takeaways: Key steps in ICSID procedures will require
UAE Supreme Court: Commercial agency de-registration requires enforcement of foreign judgment
Brief In July of 2022, the Supreme Court adjudicated whether a bankruptcy judgment in a foreign jurisdiction provided sufficient grounds for the Ministry of Economy in the United Arab Emirates to de-register a company from the commercial agency register. Commercial agency registrations Foreign companies entering the UAE market from
UAE Cassation Court addresses whether silence deemed acceptance in arbitration agreements
Silence may be deemed consent Article 135 of the Civil Code (Law No. 5/1985) states that (i) no statement may be attributed to a silent person. However, circumstantial silence shall constitute acceptance. And (ii) silence shall amount to acceptance namely in case of previous dealings between the contracting parties
UAE Supreme Court orders cancellation of tax penalties for re-submission of returns
Facts The taxpayer submitted tax returns for the prescribed tax periods as of January 2018, and these returns included supplies related to real estate owned individually to the taxpayer, as well as real estate owned in partnership with another person. The taxpayer’s partner was not added to the tax
UAE Federal Supreme Court weighs in on liability of shareholders in bankruptcy proceedings
Facts and Trial A company operating from 2001 till 2012 was in strong financial standing. After 2012, the company faced financial difficulties and lawsuits and by 2020 had encumbered debts amounting to almost AED 20 million. The Federal trial courts (Primary and Appeal) assessed that the company was trading