Introduction
Global FDSI Briefing
Welcome to our latest quarterly briefing on legal developments across our global network. I hope you find the articles insightful and thought provoking. Highlights this quarter include recent developments in Italian derivatives case law, an overview of the amendments made to Spain’s insolvency regulation and the UK’s FCA issuing first warning notices against individuals.
If you have any questions or would like further information please do not hesitate to contact me, or one of our global key contacts.
[Matthew Allen]
Matthew Allen
Financial liability in terms of multiple loans or credit cards is to be best handled by availing the option of a ‘Debt consolidation loan in UAE’. There are several banks in the UAE providing the services of a ‘debt consolidation loan’. As per the latest surveys, it is seen that at least three in five UAE residents have outstanding debts of various nature and therefore can benefit from the Debt consolidation services.
How it works:
Restructurings, especially those involving multiple jurisdictions, are invariably complex matters. This CMS Expert Guide provides an overview of the various restructuring possibilities available in a large number of countries, allowing you to compare how the options are deployed in these jurisdictions.
We intend to update it periodically to reflect important changes as they happen.
If you need more information or have any questions, please do not hesitate to contact us.
Stephenson Harwood’s Middle East team provide top tips on how to quickly recover debt in the UAE.
The strategy we set out in this bulletin is intended to crystallise the debt in the eyes of the national courts of the UAE making recovery of the debt quicker than it otherwise might be.
Issue letters of demand
Covid-19 has brought about much uncertainty for businesses worldwide and it is timely for a special edition of Going Concerns to provide a "survival guide" in the following jurisdictions Singapore, the People's Republic of China ("PRC"), Hong Kong, United Kingdom and the United Arab Emirates ("UAE"). This special edition will also touch on recent legislation and stimulus packages introduced by governments of the above (where applicable) in response to the Covid-19 outbreak, which will impact both creditors and debtors.
Survival guide
As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have announced various measures to try to alleviate the distress caused by the numerous issues that have arisen and continue to arise, particularly around cashflow and employees.
The New UAE Netting Law
Netting is a standard mechanism used in banking and financial markets for the settlement and payment of competing rights or interests between counterparties. This occurs through an agreed process of termination and evaluation of such rights or interests and consolidation to one single (or ‘net’) payment from one party to another, minimising the overall credit and settlement risk.
The GCC Quarterly Review briefly summarises a selection of the major developments in the laws of the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) in the third quarter of 2018, with links to further reading, where available.
I. Key facts
What are the key facts on doing business in the UAE?
When considering doing business in a foreign jurisdiction, an investor must consider a wide range of commercial, political and capital security issues that will impact the final decision of investing in a particular country.
Over the last two decades the United Arab Emirates have proven itself to be a very attractive hub for investors to locate their business for many reasons, below are just a few of them: