ADRmediation

Artículos Recientes

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  01.12.2023

  United Kingdom

  Court of Appeal revisits its decision on mandatory ADR - Mr Churchill v Merthyr Tydfill County Borough Council

  In a much-anticipated judgment, the Court of Appeal has returned to the question of mandatory non-court-based dispute resolution (or ADR, as most people still call it), which was previously considered by the Court of Appeal 20 years ago in Halsey[1].Two principal questions were considered: does the Court have the power to order the parties in Court proceedings to engage in some form of ADR? If so, in what circumstances?In determining that the Court does have that power, the judgment echoes the recent conclusion of the Civil Justice Council that mandatory ADR is not inconsistent with Article 6 of...

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  06.10.2023

  UAE

  Navigating new horizons: a summary of the UAE arbitration law’s reforms

  IntroductionThe UAE is reinforcing its status as a global hub for international arbitration with the recent enactment of Federal Law No. 15 of 2023, which revises certain articles of the Arbitration Law (Federal Law No. 6 of 2018).Specifically, the new law amends Articles 10, 23, 28 and 33 of the Arbitration Law (the “Amendments”) aiming to enhance the efficiency and adaptability of arbitration proceedings seated in the UAE. The Amendments came into effect on 16 September 2023 and seek to augment the UAE's positioning as a leading destination for international arbitration.The key points...

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  24.08.2023

  Singapore, UK

  Is cryptocurrency property capable of being held on trust?

  This article is produced by CMS Holborn Asia, a Formal Law Alliance between CMS Singapore and Holborn Law LLC.Recently, the Singapore High Court in ByBit Fintech Limited v Ho Kai Xin [2023] SGHC 199 (“ByBit”) was presented with this issue and held that Tether, also known as USDT, a fiat backed stablecoin pegged to the US Dollar is property, and more specifically classified as a chose in action/ thing in action. Accordingly, a constructive trust can be imposed over any misappropriated USDT. The decision of the Singapore High Court comes amidst similar developments in other common law...

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  25.07.2023

  United Kingdom

  Enforcement of arbitral award refused in crypto-related dispute

  The English High Court has refused to enforce a foreign arbitral award in a crypto-asset related dispute, as to do so would be contrary to public policy.Background:As set out in our previous Law-Now on this case, Mr. Chechetkin, a lawyer by profession, undertook a series of trades on Payward’s crypto-asset exchange, Kraken, which resulted in him losing more than £600,000. These trades were entered into pursuant to Payward’s contractual terms and conditions, which Mr. Chechetkin accepted was binding on him. Importantly for the present claim, the terms and conditions contained an...

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  13.06.2023

  Middle East

  UAE Corporate Tax Law: When does a non-resident juridical person have a UAE Nexus?

  BackgroundThe UAE enacted its Corporate Tax Law (the “CTL”) in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The CTL came into force on 1 June 2023. The main corporate tax rate of 9% applies on income exceeding AED 375,000 (roughly USD 102,000). The CLT provides that the rate of corporate tax which applies to “Qualifying Free Zone Persons” is 0% with respect to qualifying income and 9% on non-qualifying revenue.Under Article 11 of the CTL, a taxable person includes a non-resident person which has a UAE nexus.Cabinet Decision...

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  05.06.2023

  Middle East

  UAE Corporate Tax Law: What Constitutes Qualifying Income for Free Zone Persons?

  BackgroundThe UAE enacted its Corporate Tax Law (the “CTL”) in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The CTL came into force on 1 June 2023. The main corporate tax rate of 9% applies on income exceeding AED 375,000 (roughly USD 102,000). The CLT provides that the rate of corporate tax which applies to “Qualifying Free Zone Persons” (“QFZP”) is 0% with respect to qualifying income (“Qualifying Income”) and 9% on non-qualifying revenue (“Non-Qualifying Revenue”).After much anticipation,...

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