Amendment to Dubai International Finance Centre Arbitration Law
The reputation of the Dubai International Financial Centre (DIFC) as a burgeoning hub for international arbitration was significantly boosted late last month, when the DIFC Authority amended the DIFC Arbitration Law to ensure that it now fully complies with the UAE’s treaty obligations under the New York Convention.
Two decisions of the DIFC Court in 2012 highlighted that the law as previously drafted did not comply with the New York Convention in that it did not contain an express requirement that the DIFC courts stay their own proceedings in favour of a foreign-seated arbitration — even in the face of a valid arbitration clause.
The convention requires member-state courts to dismiss or stay an action, on the request of a party, in respect of matters that fall within the scope of a valid arbitration agreement. Before the amendment, article 13(1) of the law only required the DIFC courts to stay proceedings on the request of a party where an arbitration was seated in the DIFC itself…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
In the midst of the gale-force winds of commentary whipped up by the Google case, we should pause and ask ourselves: just how ground-breaking is this decision?
The shocking news of recent airline disasters brings into sharp focus for employers the sometimes unforeseeable risks facing employees who frequently travel for work.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions