Since the UAE Federal Arbitration Law came into force on 15 June 2018, a number of procedural developments have been introduced in relation to both the conduct of arbitration proceedings and the enforcement of arbitration awards before the local UAE courts. The Federal Arbitration Law has repealed the Arbitration Chapter of the UAE Civil Procedures Code and has addressed the common pitfalls that existed under the old arbitration regime.
The 12th edition of the Baker McKenzie International Arbitration Yearbook is now available. This new edition focuses in particular on diversity in international arbitration and considers the historical position, the present landscape and what the future might hold for this important topic.
This article considers the use and regulation of third party funding in the United Arab Emirates (UAE), historical impediments to the proliferation of third party funding, recent legal developments that may favour the growth of third party funding in the market, and views on the future landscape of third party funding.
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.