Client Alert January 26, 2024
- Free ports enable ultra-high-net-worth individuals to store, trade and transport assets, including artwork, with benefits of security, favorable tax and customs regulations and, often, privacy.
- However, free ports cannot mitigate threats to assets when authorities make allegations of misconduct and issue freezing or seizure orders.
- With a free port in Dubai under construction, UHNWIs and their advisors should contemplate proactive steps to protect their global portfolios.
Client Alert January 18, 2024
- International creditors are seeing more opportunities in the United Arab Emirates and wider Middle East as courts continue to signal openness to recognizing and enforcing overseas judgments.
- This includes overcoming a fraudulent conveyance, as a UAE court recently decided in what may be an unprecedented judgment in favor of a judgment holder represented by Kobre & Kim.
- The judgment demonstrates that there are a rapidly growing number of creditor tools available in the region to combat recalcitrant debtors.
Client Alert October 5, 2023
Powerful Option for Creditors Enforcing Judgments from Common Law Courts in the United Arab Emirates
- It is commonly assumed that it is difficult and impractical to enforcement judgments in the United Arab Emirates.
- However, this is increasingly untrue – even when no bilateral enforcement treaty exists, creditors can obtain recognition of their common law judgments.
- A recent Kobre & Kim case shows how that can happen.
Client Alert June 8, 2023
- The Middle East is opening up to cross-border investors, creditors and claimants, as Saudi Arabia’s adoption of rules based on the UNCITRAL Model Law on Cross-Border Insolvency demonstrates.
- The openness is not limited to that country – the United Arab Emirates has also made strides that gives more tools for creditors considering a global enforcement campaign.
- We explain what these developments mean for creditors.
Client Alert March 29, 2023
- As a key economic center in the region, the United Arab Emirates (UAE) is increasingly the place where many international creditors go as they pursue their debtor’s assets.
- However, some recalcitrant debtors may try to transfer their assets away to avoid payment in a fraudulent transfer.
- Our team explores what strategies are available in the UAE to restore a creditor’s interests.
Client Alert December 14, 2022
- The United Arab Emirates (UAE) is becoming increasingly friendly to global judgment creditors looking to enforce their judgments.
- Recent developments signal increased receptivity to fast-tracking recognition and enforcement through reciprocity.
- We survey the landscape and look at how the country can form a crucial part of a worldwide enforcement campaign.
Client Alert November 23, 2021
- 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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