Overview The article examines the material legal process involved when undertaking a corporate acquisition transaction in Saudi Arabia (Acquisition Transaction). The general process an Acquisition Transaction undergoes shares several similarities with similar types of transactions in other jurisdictions. Notwithstanding, the prevalent regulations and overriding legal system unique to KSA must be taken into consideration and…
It all started when Federal Law No.2 of 2015 was enacted, amending the legal regime that governs local and foreign companies under Federal Law No.4 of 1984. These changes have impacted on several corporate practices including the governance of private and public companies, their legal structure, dissolution, liquidation, mergers and acquisitions, and applicable penalties. As…
The Legal 500 & The In-House Lawyer Comparative Legal Guide UAE: Fintech This country-specific Q&A provides an overview to Fintech law in UAE. It will cover open banking, regulation of data, cryptocurrencies, blockchain, AI and insurtech. This Q&A is part of the global guide to Fintech and was contributed to by Nadim Bardawil and Tala Azar Read full…
Brexit was a decision that shook the financial world. On June 23rd 2016, a sliver of a majority voted for the United Kingdom to exit the European Union (EU). The schism caused consternation, and the possible impacts of such a move saw the GBP plummet 10% the day the news came to light. Clarity has…
BSA’s Rima Mrad and Nadim Bardawil contribute to the UAE Chapter of the ICLG Guide to Data Protection 2018. The Guide covers relevant legislation and competent authorities, definitions, territorial scope, key principles, individual rights, registration formalities and prior approval, appointment of a data protection officer and appointment of processors. Read the full chapter here.
With the Sharia Law, Federal Law, the law of individual Emirates and freezones all coming into play, UAE Inheritance Law can be complicated. Edouard Salwan, Senior Associate contributes to Emirates Law expert panel, and explains its impact on Emiratis, Muslim and non-Muslim expatriates with property and joint ventures in the Emirates. “To understand how succession and inheritance…
The main goal of any wealth management and succession planning is to preserve the family legacy and family owned and operated businesses. The regulatory framework of succession planning in the UAE includes both civil and Islamic law principles. However, as the DIFC has its own independent jurisdiction within the UAE, it is also empowered to…
Saudi Arabia will introduce its first comprehensive bankruptcy law on 18 Aug. 2018 in a move designed to encourage foreign and domestic investment in private business. The move is also seen as providing a boost for competitiveness and jobs, and to help pave the way for the transfer of knowledge and skills as part of…
The Saudi Arabian Bankruptcy Law complies with the best international practices and gives Saudi Arabia a legal infrastructure to deal efficiently with companies that get into financial difficulties, paving the way to achieving financial stability while simultaneously benefiting both creditors and debtors. The article discusses preventative settlement, financial reorganization and restructuring, liquidation process, as well…
Abstract His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, adopted Law No. 6 of 2018 on Dubai Health Authority (DHA), with the objectives of regulating the health sector in the Emirate, ensuring increased competitiveness, operational efficiency, transparency, quality of services and products…
Global commerce depends, to a very great extent, on the relationships between manufacturers and suppliers on the one hand and their distributors and commercial agents around the world on the other. These relationships are the linchpin to moving goods and services to new markets around the world and they are governed, not only by…
BSA’s Dubai Lawyers’ Bertrand Dumon and Edouard Salwan advised Louis Dreyfus Armateurs, a French global Group engaged in maritime transportation and services, in the structuring of their activities in the region and on an undertaking to form a joint venture company with Abu Dhabi Ports to work together to implement a 15 year agreement for the transshipment of bauxite…