Leading global law firm Baker McKenzie recently hosted seminars in Abu Dhabi and Dubai focusing on how companies doing business in the Middle East and North Africa (MENA) region can anticipate risks, reduce their exposure to disputes and manage them cost effectively if they arise.
The inaugural year-end seminar was led by senior Baker McKenzie Dispute Resolution lawyers from the UAE, Saudi Arabia, Qatar, Egypt, the UK and the US, together with the Abu Dhabi Global Markets (ADGM) Courts. Over 60 participants, including senior executives from leading corporates and major financial institutions, across all industry sectors, joined in discussions around:
- the drivers behind the increase in disputes across the region in 2018;
- latest legal and political developments, local and international regulatory issues, and their impact on regional businesses;
- latest trends in dispute resolution both regionally and internationally, and
- challenges and opportunities on the horizon for 2019
A survey of the participants revealed that 53% believed that liquidity issues and non-payments were the main driver of the rise of disputes across the region in the past year, followed closely by economic uncertainty (48%).
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