Lawyer Recognition – Lexology Legal Influencers Q4 2023 for Private Client – Asia -Pacific

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.

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.

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.