Voluntary Liquidation of LLCs in the UAE: Treatment of Insufficient Assets and Shareholder Liability
This article examines what happens when a UAE limited liability company (LLC) undergoing voluntary liquidation is found to have insufficient assets to cover its debts. It explores the legal framework under the UAE Companies Law and Bankruptcy Law, discusses the liquidator’s duties, and clarifies the extent of shareholder and director liability, supported by Ministry of Justice opinions and recent Dubai Court of Cassation rulings.
“Exceptional Urgency” Under Expedited Proceedings – Considerations for a Successful Application
This article explores the concept of ‘exceptional urgency’ under DIAC Rules 2022, offering practical guidance and examples from leading arbitral institutions to help secure expedited proceedings.
Voluntary Liquidation of Solvent LLCs in the UAE: A Shareholder’s Guide
Voluntary liquidation allows shareholders of a solvent LLC in the UAE to close operations in an orderly manner. This guide outlines the legal framework, procedural requirements, and key steps shareholders must follow to ensure compliance with the UAE Companies Law.
Form Cannot Trump Substance: UAE Committee Unifies Judicial Principle on Arbitrators’ Signatures
The UAE Supreme Federal Court has clarified that arbitral awards are valid with a signature on the final page alone. This landmark decision unifies judicial principles, prioritizes substance over form, and strengthens confidence in arbitration across the UAE.
Beyond Borders: How the UAE Rejected a European Country’s Extradition Request in a High-Stakes Legal Battle
In a landmark decision, the UAE courts refused a European state’s extradition request, emphasizing the importance of territorial jurisdiction, evidentiary sufficiency, and strategic defence in complex international legal matters.
A Quick Overview of the Effect of MOHRE Complaints on Subsequent Labour Cases in the UAE
This article provides a focused analysis of how MOHRE complaints impact labour disputes in the UAE, particularly in unlawful termination claims. It examines the legal thresholds, procedural deadlines, and court interpretations under Federal Decree-Law No. 33 of 2021.
Using Artwork as Collateral in the UAE: Legal Framework and Practical Challenges
The UAE is rapidly emerging as a global hub for art and culture, with significant investments in museums and creative industries. While artwork is not classified as a financial security under UAE law, it can be legally used as collateral for loans under the Federal Decree Law No. 4 of 2020 and registered through the Emirates Movable Collateral Registry (EMCR). Despite practical challenges such as valuation and authenticity risks, the evolving legal framework offers promising opportunities for leveraging art as a valuable asset class in the region’s growing creative economy.
Why Intellectual Property Assets Should Be Held in a Separate Legal Entity
Discover why holding your intellectual property assets in a separate legal entity is essential for effective management, protection, and maximizing the value of your business. Learn the legal advantages and practical benefits under UAE law.
Can an Arbitral Tribunal Award Relief That a Party Never Expressly Requested — Without Exceeding Its Jurisdiction?
A recent Dubai Court of Appeal judgment underscores a critical procedural principle in arbitration: tribunals must not award relief that was never expressly requested by a party. Doing so may constitute an excess of jurisdiction under Article 53(1)(h) of the UAE Arbitration Law, potentially rendering the award void. This article explores the boundaries of arbitral authority and the importance of adhering strictly to the relief sought by the parties.
Understanding Maritime Law: The Future of Global Shipping and Legal Challenges in a Technological World
Explore the critical role of maritime law in global trade, its evolution through history, and the challenges posed by technological advancements like autonomous shipping. Learn about international treaties, arbitration, and the UAE’s pivotal role in maritime legal frameworks.
