Author Archives: Tony Maalouli

About Tony Maalouli

Tony Maalouli is the Managing Director of ProConsult Advocates & Legal Consultants. ‎He is a Lebanese lawyer and legal consultant who graduated from the Lebanese ‎University, with an LL.M. and was admitted to the Beirut Bar Association in 1992. He ‎obtained a DES (Diploma of Higher Studies) in private law in 1994 from the Lebanese ‎University, and a Postgraduate Diploma in International Construction Law and ‎Arbitration from the Robert Gordon University in the UK.‎
Member of the International Bar Association, he is a member of the Board of Directors of ‎the International Law Firms Association, and he is listed in the 2007-2008 Edition of ‎International WHO’S WHO of Professionals, a definitive work on the world’s leaders in ‎commerce, economics, policy, and trade, for his distinguished achievements and ‎contributions to the business and legal community.‎
Mr. Maalouli is registered in the DIFC Courts Register of Legal Practitioners with rights ‎of audience before the DIFC Court, and he is also an Arbitrator registered with the ‎Egyptian Chamber for International Commercial Arbitration and a Fellow of the ‎Chartered Institute of Arbitrators in London (FCIArb).‎
Mr. Maalouli is an Instructor and lecturer at the Dubai Real Estate Institute at the Dubai ‎Lands Department.‎
He is also a member of the Russian Business Council, Lebanese Business Council, French ‎Business Council, Canadian Business Council, Australian Business Council and British ‎Business Group in Dubai and the Northern Emirates.‎
Mr. Maalouli possesses an intimate understanding of the local legal and economic markets ‎as well as its governing laws and customs, and has a long history of advising in landmark ‎UAE and cross-border complex, high-profile transactions.‎
His areas of expertise encompass Commercial and Corporate Law, Corporate Structuring, ‎Mergers and Acquisitions, Agency Law, Franchising, Banking and Finance, Employment ‎Law, Insurance Law, Intellectual Property, Information Technology and Internet Law, ‎Real Estate and construction, Insolvency, Alternate Dispute Resolution, Criminal Law. ‎
An active contributor to his field, he is a widely published speaker on various legal ‎subjects and has published numerous articles and papers since the start of his career.‎

Судебное разбирательство и арбитраж

ПроКонсалт Адвокаты и юридические консультанты способны провести полный анализ всех деталей Вашего дела, уделяя пристальное и тщательное внимание конкретным подробностям и фактам в сложных и дорогостоящих судебных процессах, а также дать наилучший совет практически по любой проблеме, которая может возникнуть  в гражданских или уголовных судебных процессах, и впоследствии обеспечить наилучшее представительство в суде ОАЭ.

 

Мы понимаем сложности законодательства и судоустройства ОАЭ, и наши высококвалифицированные адвокаты прекрасно разбираются в системе правосудия ОАЭ  и имеют богатейший опыт в представительстве как физических, так и юридических лиц на судебных  заседаниях в судах ОАЭ во всех семи эмиратах, а также опыт ведения сложных судебных дел.

 

Наша команда имеет дело с различными уголовными делами, охватывая коммерческие сделки, спорные вопросы по строительству и недвижимому имуществу, корпоративные и деловые вопросы, уголовное право, банковское дело и страхование, а также судебные тяжбы, связанные с коммерческими агентствами и франшизой.

 

Каждый случай разбирается с одинаковой степенью заботы и внимания к деталям, и мы гарантируем то, что все клиенты честным образом получат надлежащий совет, и наши обязательства по отношению к клиентам уже достигли высокого процента выигранных дел в суде. Наш постоянный успех обеспечил нам твердую выигрышную репутацию среди ведущих юридических фирм в стране.

 

Мы осознаем нужды нашего клиента и работаем в направлении решения его наиболее сложных проблем и спорных вопросов, и наша практика уголовных дел охватывает самые разнообразные уголовные процессы, включая:

 

Банковский судебный процесс

 

Наши адвокаты имеют богатый опыт по спорным вопросам в банковской системе и рассматривают практически все типы бытовых банковских судебных дел, включая дела по взысканию долга, спорные вопросы, связанные с аккредитивом, преступления, связанные с отмыванием денег и коммерческие уголовные дела, незаконную передачу активов, случаи подделки чека и другие дела, относящиеся к уголовному законодательству, преимущественное право и другие побочные предметы судебного спора, а также кредитные проблемы.

 

Мы также консультируем и представляем заемщиков или поручителей в их диспутах с банками и финансовыми организациями и оказываем им поддержку в переговорах и реконструировании их просроченных займов и кредитов, а также связанной с займами. документации.

 

Судебный процесс в сфере страхования

 

Наши опытные адвокаты прекрасно разбираются в судебном процессе в сфере страхования и представляют клиентов в делах, связанных с задолженностью, политическим давлением, спорными вопросами по страхованию и перестрахованию, дорожно-транспортными происшествиями, урегулированием претензий, включая сложный относящийся к страхованию судебный процесс, а также  предъявлением претензий в другие страховые компании.

 

Судебные процессы в отношении коммерческих агентств и франшизы

 

Наши адвокаты представляют как доверителей/франшизодателей, так и коммерческих агентов/франшизополучателей, а также распределительные компании с окончанием срока франшизы и окончанием срока коммерческой деятельности и связанные с этим компенсации и средства, а также возникающие вследствие споров по соглашению о франшизе судебные тяжбы, нарушения прав интеллектуальной собственности, ответственность производителя, а также принуждение к исполнению системных стандартов, взимание оплаты и штрафов и принуждение к исполнению договоров о запрете конкуренции.

 

Коммерческие судебные процессы

 

Наша опытная команда адвокатов разбирает все виды коммерческих уголовных процессов, включая случаи, затрагивающие споры по контрактам и коммерческие жалобы, франшизу и распределение имущества, прекращение коммерческой деятельности, коммерческие споры по предоставлению займа и споры по бизнес- и гражданско-правовым нарушениям, договорные обязательства, банкротство и взыскание непогашенной задолженности.

 

DIFC суды

 

Крайне интересной местной разработкой в Дубае является основание Суда Дубайского Международного Финансового Центра (DIFC). Это требует поправки к Конституции ОАЭ, поскольку Суд выходит за пределы федеральной судебной системы. Это также требует исключения гражданских прав ОАЭ и создания своей собственной правовой системы.

 

Суд DIFC функционирует на базе Общего, а не Гражданского Права, язык Суда – английский, и Суд имеет свой собственный набор Процедурных Правил.

 

Первоначально юрисдикция DIFC Судов была ограничена географической территорией DIFC. Однако с ноября 2011 года Суды DIFC могут заслушивать коммерческие споры между любыми сторонами, которые вписали DIFC Суды в их взаимные контракты, или которые согласились сообща использовать DIFC для после судебных разбирательств.

 

Наши опытные адвокаты прекрасно разбираются в законах и правовой системе DIFC, которая совершенно отличается от правовой системы Дубая и DIFC, и которая функционирует на базе Общего, а не Гражданского Права. Мы представляем наших клиентов в сложных уголовных процессах в пределах DIFC и имеем право выступать в DIFC судах.

 

 

Арбитраж

 

Арбитраж постепенно стал популярной формой разрешения споров во многих юрисдикциях, включая ОАЭ. Это сложилось благодаря импорту обычной бизнес-практики в ОАЭ и тому факту, что арбитраж предоставляет национальному и выходящему за пределы нации партнерству большее пространство для маневрирования и придает вес намерениям сторон в Договорах, что идёт в противоположность строгому соблюдению Закона.

 

У нас есть команда опытных адвокатов, которая прекрасно разбирается в арбитраже и арбитражных судебных процедурах.

Высокое качество является нашей минимальной нормой, и мы применяем этот принцип ко всем нашим юридических практикам, в особенности, к арбитражу. Наша команда уделяет огромное внимание всем тонкостям и фактам разбираемого дела, а также положению вовлеченных сторон, и намечает лучший курс действий по защите интересов клиентов.

 

Некоторые выдающиеся дела, по которым работали наши адвокаты-эксперты:

 

  • Представление крупной Корпорации по Развитию Недвижимого имущества в деле на 300 миллионов дирхам с одним из ведущих исламских банков в ОАЭ перед судами Дубая и Абу-Даби.
  • Представление Субподрядчика в деле на сотни миллионов долларов перед DIFC судами с одним из ведущих в ОАЭ подрядчиков по недвижимому имуществу.
  • Консультирование ведущей Европейской Компании по юридическим вопросам, касающимся спора с Правительством Аджмана по поводу канализационной сети сточных вод и очистительных сооружений.
  • Консультирование ведущей Европейской Компании по аспектам уголовного дела, относящимся к спору, вызванному крупным производственным иском по отношению к Компании, находящейся в полной собственности Правительства Дубая.
  • Рассмотрение уголовного дела, связанного с крушением крыши BPST здания (завода силовых и опреснительных установок в Джебель Али, станция “К” Фаза 2), а также смертью и увечьями рабочих на месте.
  • Консультирование ведущей Многонациональной Компании по арбитражу перед Торговой Палатой ICC в Париже.
  • Представление ведущего Застройщика Недвижимого Имущества в арбитраже/ посредничестве с подрядчиками по каменной облицовке и подрядчиками по жилой застройке и офисной башне.
  • Представление ведущей Многонациональной Компании в арбитраже ICC в связи с договором на сотни миллиардов долларов EPC (Engineer, Procure and Construct) по программе Правительства в ОАЭ.

Litige & Arbitrage

Les avocats et conseillers juridiques de ProConsult sont capables de mener une analyse approfondie des détails de votre procès, avec une bonne et précise attention aux details et faits les plus subtils, dans des affaires de litige complexes, importantes et de fournir les meilleurs conseils possibles à presque toutes les questions qui peuvent surgir dans des poursuites judiciaires civiles ou pénales, et subséquemment la meilleure représentation possible dans un tribunal des EAU.

Nous comprenons les complexités du système juridique des EAU, et nos experts avocats connaissent bien le système de justice des Émirats Arabes Unis avec une riche expérience en matière de représentation aussi bien de personnes physiques que de personnes morales dans les procédures judiciaires devant les tribunaux émiriens dans les sept émirats et en matière de litiges complexes.

Notre équipe s’occupe de diverses questions de litiges, portant sur les transactions commerciales, la construction et les litiges relatifs à l’immobilier, les affaires d’entreprise, le droit pénal, les banques et les assurances, les litiges des agences commerciales et des franchises.

Chaque affaire est traitée avec le même degré de soin et d’attention aux détails, pour s’assurer que tous les clients sont conseillés de façon équitable et précise, et notre engagement envers les clients a atteint un pourcentage élevé de procès gagnants au tribunal. Notre succès constant nous a valu une réputation durement gagnée parmi les meilleurs cabinets d’avocats du pays.

Nous prenons conscience des besoins de nos clients et nous nous efforçons de résoudre leurs problèmes et litiges les plus complexes, et notre expertise en matière de litiges couvre les questions de litiges les plus diverses, à savoir:

 

Litige bancaire

Nos avocats ont une grande expérience des questions litigieuses dans le secteur bancaire et traitent presque tous les types de litiges bancaires locaux, à savoir les questions de recouvrement de dette, les litiges relatifs à la lettre de crédit, les délits de blanchiment d’argent et les litiges commerciaux, le transfert frauduleux et les faux chèques et autres questions ayant rapport au droit pénal, à la priorité et à d’autres questions relatives aux garanties et au crédit.

Nous conseillons et représentons également les prêteurs ou les garants dans leurs litiges avec les banques et les institutions financières, et les aidons dans la négociation et la restructuration de leurs prêts impayés et les facilités de crédit ainsi que les documents de prêt connexes.

 

Litige d’assurance

Nos avocats expérimentés maitrisent bien les litiges en matière d’assurances et représentent des clients dans les domaines de la responsabilité civile, la violation de police d’assurance, les litiges relatifs à la couverture d’assurance et de réassurance, les accidents de la route, le règlement des sinistres à savoir les litiges complexes relatifs aux assurances et aux réclamations contre d’autres companies d’assurance.

 

Litige d’agence commerciale et de franchise

Nos avocats représentent à la fois les directeurs / franchiseurs et les agents commerciaux / franchisés et les sociétés de distribution dans la résiliation d’accords de franchises et d’agences commerciales et la compensation et les recours connexes et les litiges découlant des conflits d’accord de franchise, la violation de la propriété intellectuelle, la garantie de produit, la collecte des royalties et des droits et l’application des clauses restrictives de la concurrence.

 

Litige commercial

Notre équipe d’experts avocats traite toutes sortes de litiges commerciaux, à savoir les litiges contractuels et le droit commercial, la franchise et la distribution, la résiliation des agences commerciales, les litiges de prêts commerciaux, les litiges commerciaux et civils, les litiges relatifs à la responsabilité contractuelle, la faillite et le recouvrement dettes.

 

Tribunaux DIFC

Un développement local très intéressant à Dubaï est la création du Centre Financier International de Dubai (DIFC). Cela nécessitait un amendement à la Constitution des EAU parce que le tribunal se situe en dehors du système judiciaire fédéral. Elle exige également que les lois civiles des Émirats arabes unis soient exclues et que son propre système juridique soit créé.

La Cour de DIFC fonctionne sur la base du droit coutumier, plutôt que le droit civil, la langue des tribunaux est l’anglais, et il a son propre ensemble de règles de procedure.

À l’origine, la juridiction des tribunaux DIFC était limitée à la zone géographique du DIFC. Toutefois, depuis novembre 2011, les tribunaux DIFC peuvent traiter les conflits commerciaux entre les parties qui ont mentionné les tribunaux DIFC dans leurs contrats mutuels ou qui acceptent conjointement d’utiliser les tribunaux DIFC après le conflit.

Nos experts avocats connaissent bien les lois et le système juridique du DIFC, qui est très différent du système juridique de Dubaï et des Émirats arabes unis et repose sur le droit coutumier plutôt que sur le droit civil. Nous avons représenté nos clients dans des litiges complexes au sein du DIFC et avons le droit d’audience devant les tribunaux DIFC.

 

Arbitrage

L’arbitrage est devenu peu à peu un mode de résolution de litiges populaires dans de nombreuses juridictions, y compris les EAU. Cela est dû à l’importation des pratiques commerciales coutumières dans les Émirats arabes unis et du fait que l’arbitrage permet aux partenariats nationaux et non nationaux de disposer d’une plus grande marge de manœuvre en donnant du poids à leurs intentions dans les contrats au lieu d’appliquer strictement la loi.

Nous avons une équipe d’experts avocats qui maitrisent bien l’arbitrage et les procédures d’arbitrage. L’excellence est notre critère de base et nous appliquons cette maxime à toutes nos pratiques juridiques, notamment l’arbitrage. Notre équipe consacre le plus grand soin et attention aux détails et aux faits de l’affaire et au statut des parties concernées et décide de la meilleure façon de défendre les intérêts des clients.

 

Quelques-uns des dossiers très importants sur lesquels nos experts avocats ont travaillé:

  • Représenter un important groupe de développement immobilier dans une affaire de 300 millions de dirhams avec l’une des principales banques islamiques aux Emirats Arabes Unis, devant les tribunaux de Dubaï et les tribunaux d’Abu Dhabi
  • Représenter un sous-traitant dans une affaire de plusieurs millions de dollars devant les tribunaux DIFC avec l’un des principaux agents immobiliers aux Émirats Arabes Unis
  • Conseiller une entreprise européenne de premier plan sur les aspects juridiques liés à un conflit avec le gouvernement d’Ajman concernant un réseau de collecte des eaux usées et une installation de traitement
  • • Conseiller une importante société européenne sur les aspects litigieux liés à un conflit découlant d’une réclamation industrielle très importante à l’encontre d’une société détenue à 100% par le gouvernement de Dubaï
  • Gestion de l’affaire pénale liée à l’effondrement du toit du bâtiment BPST (Usine de déminage et de désalinisation Jebel Ali, station “K” Phase II) et à la mort et aux blessures des travailleurs travaillant sur place
  • Conseiller une multinationale de premier plan sur un arbitrage devant la CPI à Paris
  • Représenter un promoteur immobilier de premier plan dans un arbitrage / médiation avec des entrepreneurs pour le revêtement de sol en pierre et des entrepreneurs pour le développement de blocs d’appartements et de tour administratives
  • Représenter une grande compagnie multinationale dans un arbitrage CPI lié à un contrat EPC de plusieurs milliards de dollars (Combiner, Procurer et Construire) pour un projet gouvernemental aux Emirats Arabes Unis

New Commercial Companies Law – Mandatory Changes required to the Memorandum of Association

This is a Special Law Update from ProConsult Advocates & Legal Consultants, bringing to your attention the Mandatory Changes required to the Memorandum of Association of your LLC Companies before the end of June 2017, to avoid dissolution of your company & to prevent fines being imposed.

It has become imperative that you make changes to the Memorandum of Association of your LLC Companies in order to comply with the New Commercial Companies Law.

 

In fact the Grace Period is about to expire and these changes have to be made before the End of June 2017

 

THE NEW COMMERCIAL COMPANIES LAW (CCL)

What are the required changes that you as a Business owner have to make in a Memorandum of Association (MOA)?

 Introduction: The Law no.2 of 2015 dubbed as the New Commercial Companies Law or New CCL was enacted & came into effect on the 1st, of July 2015. It is a bold & a progressive attempt to regulate the business & commercial sector. It covers areas such as how the companies are to be managed keeping in view the principle of transparency, protection of shareholders rights, auditing of account etc. The new law in general attempts to provide a level playing field, encourage foreign direct investment and good corporate governance. [Article.2].

As a business owner or Manager of a Company where do you stand vis-à-vis the New CCL?

The intention of the legislature is to vigorously enforce the new company law. The provisions of this enforcement policy are as under:

First, all companies are under an obligation to conform to the provisions of the new law within one years of its coming into force. [Article. 374(1)]

Second, any failure to comply with the provisions of the new law will lead to the dissolution of the company in accordance with the provision of the New CCL unless the one year grace period is extended. [Article: 374(2)]

Lastly to ensure that the new law in followed in letter & spirit, the regulatory authorities has been given real teeth in form of a pecuniary penalty regime. For violation of new CCL penalties ranging from AED 10,000/- to AED 100,000/- shall be imposed on companies & their directors/managers/owners.

Therefore, to avoid dissolution of your company & to prevent fines being imposed it has become urgent to make the required changes in the company structure as the grace period is about to expire.

Article by ProConsult Advocates & Legal Consultants the Leading Dubai Law Firm providing full legal services & legal representation in UAE courts

UAE Anti- Discrimination Law

Law No. 2 of 2015 against Discrimination and Hatred, criminalizing all forms of discrimination on the grounds of religion, caste, creed, doctrine, race, color or ethnic origin, was enacted following a decree by the president of the United Arab Emirates Sheikh Khalifa Bin Zayed Al Nahayan, on 15 July 2015.

The Law is drafted in broad terms to ensure that it encompasses all discriminatory conduct regardless of how it is expressed. In this regard the Law criminalizes and condemns any acts that incite religious hatred or which insult religion and actions comprising hate speech or the promotion of discrimination or violence against others through any form of expression whether oral or written. This covers speech and the written word, books, pamphlets or via online and media, including online, print, radio visual media or social media.

The law also stipulates for punishment against anyone for calling other religious groups or individuals as infidels or unbelievers, and prohibits any acts insulting God, his prophets or apostles or holy books or houses of worship or graveyards.

The law further has provisions for fighting discrimination against individuals or groups on the basis of religion, caste, doctrine, race, color or ethnic origin.

Furthermore, Article 6 of the Law states in broad terms that a person who commits an act of discrimination may face imprisonment of up to 5 years and/or a fine of between AED 500,000 and AED 1,000,000.

Pursuant Article 9 of the Law, the same penalties may be imposed where a discriminatory act is committed by a public employee upon or due to performing his job.

The legislator’s intentions behind the law are to reinforce the sound foundation upon which the UAE society was built, and preserving the environment of tolerance, broad­ mindedness and wide acceptance in the UAE of other cultures, races, and religions. The law further aims to secure and safeguard people living in the UAE regardless of their origin, religious beliefs or race, against acts that incite hatred and intolerance.

This is particularly important in a multi-cultural country and society as the UAE, where individuals of different ethnicity, religions, races and colors, from all over the world come together to live and work, and where the expatriate population forms more than 85% of the general population.

If you have been the victim of an act of discrimination on the grounds of religion, caste, creed, doctrine, race, color or ethnic origin, you may contact our expert legal advisers and criminal lawyers in Dubai, who will handhold you through the judicial process of exerting your rights, where you will be represented by the leading law firm in Dubai and the UAE, ProConsult Advocate & Legal Consultants.

Article by ProConsult Advocates & Legal Consultants the Leading Dubai Law Firm providing full legal services & legal representation in UAE courts

New JAFZA Regulations to Encourage Foreign Direct Investment in Dubai

Top Dubai Law Firm in UAE - JAFZA NEW PLC & Foreign Direct Investment Regulations

The Jebel Ali Free Zone (JAFZA) connects the continents of Asia, Europe and Africa. JAFZA just broke the most exciting news for the investors in the beginning of 2017.

The Free Zone has issued a new set of guidelines Jebel Ali Free Zone Companies Implementing Regulations 2016. Foreign companies no longer need to establish legal entities such as a branch or a new company altogether.

The guidelines aim to simplify the existing regulations for Foreign investors to incorporate new companies, by allowing the foreign companies to easily transfer to the Free Zone instead of setting up branches or subsidiaries for their business. Free Zone Entities and Free Zone Companies will further be allowed under the new regulations to be listed on the stock exchange as Public Listed Companies.

In fact JAFZA has now introduced for the first time a new legal entity type “Public Listed Companies (PLC)”. All legal entities such as the Free Zone Establishment (FZE), Free Zone Company (FZCO) and Branches are brought now under one structure of PLC. Restructuring of businesses from FZE or FZCO to PLC is possible and so is the vice-versa. In doing so, Jafza intends to bolster the business continuity in the Free Zone. Moreover, the foreign companies can easily transfer to the Free Zone whilst all their commitments remain valid. This will ensure international businesses find the Free Zone conducive for foreign investments.

With a more forward approach, Jafza has struck the blanket minimum capital requirement provision. Now, businesses ca be set-up with capital sufficient for the activities applied for. Also, the minimum requirement of shareholders now in an FZCO will be two and maximum will be fifty.

Shares will now be differentiated into various classes. This will provide flexibility to owners to provide voting rights to shares. Owners can now raise equity while retaining management over the company by providing management rights shares to the incumbent management.

Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World and Chairman of Ports, Customs and Free Zone Corporation, said: “The new regulations streamline all the mandatory legalities related to the registration, administration, legal benefits and obligations of organizations in the free zone. These changes reflect the needs of an ever-evolving market in terms of providing facilities that are prompt, secure and form the best international practice.”

The new regulations will allow FZE and FZCO to be listed on the stock exchange as PLC. Thus, these PLCs can now access capital through capital markets subject to relevant Markets Laws in the UAE.

Article by ProConsult Advocates & Legal Consultants the Leading Dubai Law Firm providing full legal services & legal representation in UAE courts

FNC committee for financial affairs examines the UAE central bank national policies

The UAE Federal National Council

The UAE Federal National Council Committee for financial affairs examined the UAE Central Bank’s policies on Sunday in Dubai. The head of the committee emphasized upon the importance of the Authorities’ opinion and its inclusion in the committee’s report, in compliance with the laws and regulations regulating the activityof the central bank, particularly the central bank’s policy in promoting the employment of UAE Nationals, regulating the financial sector and the organization and planning of the monetary, credit and banking policies. The committee decided to invite representatives of the UAE banks and the Central Bank to attend the upcoming meeting, in an effort to communicate with different sectors of society, particularly the financial sector, during discussions of major issues.

ProConsult Advocates & Legal Consultants

 

UAE Government enacts legal system for venture capital funds

The UAE government established a new legal system for venture capital funds, as part of the projects dedicated to government accelerators launched by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The move aims to setting the controls and obligations governing the venture capital fund, rooted in a solid cooperation and partnership based model between the public and private sector, with an aim to expand the scope of funding innovation-based projects in the UAE.

this will help promote the competitiveness of small and medium-sized businesses in innovation and technology-based areas.

A venture capital fund is a special fund that invests in high-risk investments such as new technologies based projects and troubled projects, as well as in businesses with new and innovative ideas.

Under the new legal system, if the value of assets under management exceeds AED180 million, it is obligatory for the business to issue an annual report according to IFRS standards, appoint a risk management officer. The business exposure to risk should not exceed the fund’s net asset value.

Pursuant to Article [3] of the decision, the venture capital fund has 3 obligations. The first obligation is that the fund should invest not less than 70 per cent of its assets in one or more of the following fields:

1-Lending new or troubled projects or participating in these projects by not more than 30% (thirty per cent) of its assets.

2-Instruments issued by unlisted companies in the market.

3-Units of other venture capital not exceeding 10% (ten per cent) of its assets.

4-Lending businesses mentioned above by not more than 30% (thirty per cent) of its assets provided that the fund should be an investor in the same field of business.

The second obligation is that the fund’s investments should not exceed 30% (thirty per cent) of its assets in the investments that the Emirates Open public investment fund (Emirates UCITS) is allowed to invest in. In case of investing abroad, the fund should commit to the above mentioned obligations.

Article [4] of the decision stipulates further 3 obligations on the fund, including conducting regular evaluation of its assets and units at least one time per year, issuing an annual report that details the fund’s investments, activities, profits and losses, and the percentage of fund’s borrowing or collateral should not exceed its assets.

Flydubai Plane crash in Russia

Dubai analysts are saying that the deadly crash of a flydubai plane on Saturday 19 march 2016 in southern Russia is surprising given the excellent safety record of the flydubai budget airline during seven years of its operation. Sixty One passengers and crew members died when the Boeing 737-800 crashed in poor weather conditions at the airport in Rostov-on-Don, a small airport by international standards, which can witness extreme weather conditions that affect commercial aviation. This fatal crash is first of its kind since flydubai began operations in 2009. This tragic event will require extensive investigation into the cause of the crash, and proper measures are being taken to deal with this incident  by Russian and Dubai authorities.

Litigation & Arbitration

ProConsult Advocates & Legal Consultants are able to conduct an in-depth analysis of the particulars of your case, with a fine and accurate attention to fine details and facts, in complex, high-value litigation matters, and provide the best possible advice across almost any and every issue that can arise in civil or criminal law suits, and subsequently the best possible representation in a UAE court of law.

We understand the intricacies of the UAE Legal System and Judiciary, and our Expert Lawyers are well versed with the UAE Justice System, with a wealth of experience in representing both individuals and corporate entities in judicial proceedings before UAE courts in all seven emirates and handling complex litigation matters.

Our team handles diverse litigation matters, covering commercial transactions, construction and real estate disputes, business and corporate matters, criminal law, banking and insurance, and commercial agencies and franchise litigation.

Every case is treated with the same degree of care and attention to detail, to ensure that all clients are advised in a fair and accurate way, and our commitment towards clients has achieved a high percentage of winning judgments in court. Our consistent success has earned us a hard won reputation amongst the country’s leading law firms.

We recognize our client’s needs and work towards resolving their most complex issues and disputes, and our litigation practice covers the most diverse litigation matters, including:

 

Banking Litigation

Our lawyers have a wealth of experience on contentious matters in the banking industry, and handle almost all types of domestic banking litigation, including debt recovery matters, disputes relating to letter of credit, money laundering crimes and commercial litigation, fraudulent transfer, forged cheque cases, and other criminal law related matters, priority and other collateral and credit issues.

We also advise and represent borrowers or guarantors in their disputes with banks and financial institutions, and assist them in the negotiation and re-structuring of their defaulted loans and credit facilities, and related loan documentation.

 

Insurance Litigation

Our Experienced Lawyers are well versed in insurance litigation, and  represent clients on matters relating to liability, policy enforcement, disputes pertaining to insurance and reinsurance coverage, motor accidents, claims handling, including complex insurance-related litigation, and re-claim against other insurance companies.

 

Commercial Agency and Franchise Litigation

Our Lawyers represent both Principals/Franchisors and Commercial Agents/Franchisees  and distribution companies in franchise termination and commercial agencies termination and related compensation and remedies, and litigation arising out of franchise agreement disputes, intellectual property rights infringement,  product liability, and system standards enforcement, collection of royalties and fees, and enforcement of non-competition covenants.

 

Commercial Litigation

Our Expert Team of Lawyers handles all sorts of commercial litigation cases, including cases involving contract disputes and commercial claims, franchise and distribution, commercial agencies termination, commercial lending disputes, business and civil tort-related disputes, contractual liability, bankruptcy and recovery of outstanding dues.

 

DIFC Courts

A very interesting local development in Dubai is the establishment of the Dubai International Financial Centre (DIFC) Court. This required an amendment to the Constitution of the UAE because the court falls outside of the federal court system. It also required UAE civil laws to be excluded and its own legal system to be created.

The DIFC Court operates on the basis of the Common Law, rather than the Civil Law, the language of the courts is English, and it has its own set of Procedural Rules.

Originally, the jurisdiction of the DIFC Courts was limited to the geographical area of the DIFC. However, since November 2011, the DIFC Courts can hear commercial disputes between any parties which have written the DIFC Courts into their mutual contracts, or which jointly agree to use the DIFC Courts post-dispute.

Our Expert Lawyers are well versed in the DIFC laws and legal system, which is quite different from the Dubai and UAE legal system, and based on Common Law, rather than the Civil Law. We have represented our clients in complex litigation cases within the DIFC and have the right of audience before the DIFC courts.

 

Arbitration

Arbitration has gradually become a popular dispute resolution mode in many jurisdictions, including the UAE. This is due to the import of customary business practice in the UAE and the fact that arbitration allows national and non-national partnerships greater room to maneuver by lending weight to their intentions in Contracts as opposed to strictly applying the Law.

We have a team of Expert Lawyers well versed in arbitration and arbitration proceedings. Excellence is our minimum standard and we apply this maxim across all our legal practices, especially arbitration. Our team dedicates the utmost care and attention to the fine details and facts of the matter at hand and the status of the parties involved, and decides on the best course of action to protect the clients’ interests.

 

Some of the High-Profile Files our Expert Lawyers have worked on:

  • Representing a Major Real Estate Development Group in a 300 million Dirham case with one of the Leading Islamic Banks in the UAE, in front of the Dubai courts and Abu Dhabi courts
  • Representing a Sub-Contractor in a multi-million Dollar case in front of the DIFC courts with one of the Leading Real Estate Contractors in the UAE
  • Advising a leading European company on the legal aspects related to a dispute with the Government of Ajman related to a Waste Water Collection Network and Treatment Facility
  • Advising a leading European Company on the litigation aspects related to a dispute arising from a very large industrial claim towards a Dubai Government fully owned company
  • Handling the criminal case related to the collapse of the roof of the BPST building (Jebel Ali Power and Desalination Plant, Station “K” Phase II ) and the death and injuries of workers working on site
  • Advising a leading Multinational on an arbitration before the ICC in Paris
  • Representing a leading Real Estate Developer in an arbitration/mediation with the contractors for the stone flooring and contractors for the development of apartment blocks and office tower
  • Representing a leading Multinational Company in an ICC arbitration related to a multi-billion Dollar EPC Contract (Engineer, Procure and Construct) for a Government Project in the UAE

Banking & Finance Law

ProConsult Advocates & Legal Consultants team of banking and financial services experts specializes in sophisticated banking transactions. Our team’s areas of expertise encompass Banking Laws, Islamic and Commercial Banking Contracts and Transactions, structuring banking facilities documentation and agreements and real estate mortgages and other banking securities and guarantees, and the enforcement of such securities and guarantees, letters of credit, debt recovery from defaulting bank customers and representing banks in commercial and criminal litigation initiated by or against the banks,.

We regularly provided legal advice to several UAE banks on all banking transactions, and drafted and reviewed all banking forms and contracts, including credit facilities documentation, loan agreements, syndicated loans, securities and mortgages and pledges, and unified terms and conditions for account opening.

Our lawyers possess an intimate understanding of the local legal and economic markets as well as its governing laws and customs in the banking industry, and have a long history of advising in landmark UAE and cross-border complex, high-profile banking and financial transactions.

 

Our Expert Legal Advisors have worked on:

  • Drafting and Reviewing Corporate Credit Documentation and Unified Terms and Conditions for account opening and reviewing them on annual basis, and formation of Real Estate Financing SPVs, for leading banks in the UAE
  • Redrafting the Memorandum and Articles of Association after listing on financial markets for leading banks in the UAE
  • the Structuring the Issue of AED /800.000.000/ Bonds Convertible into shares for one of the leading Banks in the UAE
  • Representing a Major Real Estate Development Group in a 300 million Dirham case with one of the Leading Islamic Banks in the UAE

Our banking and finance team experts offer specialized services for major aspects of the banking and finance industry, including loan finance, asset finance, project finance, structured products, debt restructuring, debt capital markets and dealing with corporate insolvency matters.

 

Islamic Banking and Finance

The Islamic banking and finance sector continues to grow in both domestic market and international markets and our attorneys advise banks on how to expand and structure their business and Islamic banking products in this area, and on major aspects of Islamic finance, including takaful (Islamic insurance), murabaha, Istisnaa, ijara and listing of sukuks.

 

Asset Based Finance

Our Expert Legal Advisors handle all types of asset-based finance and lending transactions, including collaterals, subordinated debt, inter-creditor arrangements, and other matters related to asset based lending products.