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Client Alert May 22, 2025

Dubai and Abu Dhabi Courts Widen Door for Creditors in the UAE

  • A new Memorandum of Understanding (MoU) between the Dubai Courts and the Abu Dhabi Global Market (ADGM) Courts marks a significant step forward for creditors seeking to enforce claims in the UAE.
  • By establishing mutual recognition of judgments and awards, the MoU brings greater clarity to a legal landscape long seen as complex and uncertain.
  • In light of this progress, creditors operating in the UAE should consider proactive strategies to enhance their recovery prospects across both offshore and onshore systems.

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Client Alert May 1, 2025

Enhancing the Returns in Sovereign Debt Enforcement

  • Global public debt has surpassed US $300 trillion, providing creditors and investors in sovereign debt with new opportunities.
  • Pursuing sovereign assets can be complex, time-consuming, and highly public, often involving legal battles across jurisdictions and public scrutiny.
  • Adopting cross-border strategies that move beyond the traditional litigation playbook that sovereigns expect can improve recovery outcomes and shorten enforcement timelines.

 

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Client Alert April 10, 2025

Creditors Should Enforce PRC Keepwell Agreements Overseas

  • It is now established that keepwell agreements—commitments made by a parent company in the People's Republic of China (PRC) to uphold the financial stability of its subsidiary—are enforceable under Hong Kong law.
  • Beyond enforcing keepwell agreements in the PRC, unsecured creditors should proactively expand their recovery overseas to improve their prospects for recovery.   

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Enforcement in Dubai Just Got Easier

  • The Dubai International Financial Centre (DIFC), a gateway to enforcing judgments in the Middle East, has just seen significant barriers to enforcement removed.
  • Creditors now have a much smoother path to collect on what they are owed both in onshore Dubai and across the region.
  • Our global Claim Monetization & Dilution team unpacks how creditors can save significant time and money.

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