Moyen-Orient

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eAlerts Récentes

  •  
    09/02/2024
    Middle East

    New arbitrateAD Rules

    Following the establishment of the Abu Dhabi International Arbitration Centre (branded as “arbitrateAD”) (as reported here), arbitrateAD’s new arbitration rules were published and came into effect on 1 February 2024 (“New Rules”). The New Rules (available here) replace the existing rules of the Abu Dhabi Commercial Conciliation and Arbitration Centre (“ADCCAC”) and are anticipated to provide a more efficient and updated arbitration process, aligned with international standards.A summary of the key points to note in the New Rules is set out below.Transition...
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  •  
    31/01/2024
    Middle East

    Middle East Arbitration & Mediation Landscape 2024 – More of the Same, Some of the New?

    During 2023, CMS undertook desktop research and qualitative interviews to investigate whether the number of international commercial arbitrations were decreasing globally, in light of news coverage on the topic. This study can be found here. It was found that the number of international arbitrations have in fact increased in recent years, among which there has been an approximate 28% increase from 2021 to 2022 in arbitrations conducted through the Dubai International Arbitration Centre (“DIAC”). This increase was broadly representative of the double-digit growth in case numbers reported...
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  •  
    29/01/2024
    Middle East

    CMS guide on the new KSA Civil Code - Third Edition – Corporate Transactions

    Introduction As set out in our recent publications on19 June 2023, Royal Decree No. M/191 (the “Civil Code”) was published in the Kingdom of Saudi Arabia’s (the “KSA”) official gazette – and came into force on 16 December 2023 (the “Commencement Date”).While the previous Law Now publication discussed key provisions relating to contract law (available here) and construction law (available here), in continuation with the Civil Code series, this Law Now will take a deep dive into the application of the Civil Code in the context of corporate transactions.Although...
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  •  
    19/01/2024
    International

    CBAM: Just over a week to comply

    As the deadline for the first Carbon Border Adjustment Mechanism (CBAM) report approaches on January 31st, it is crucial for undertakings engaged in importing relevant goods into the European Union to understand their obligations - which take practical effect this month. The CBAM, established by Regulation (EU) 2023/956, represents a significant step in the EU’s efforts to combat climate change and carbon leakage, aligning with the overarching goals of the European Green Deal and the Paris Agreement.Key Practical Points on CBAM:Scope of CBAM: This mechanism applies to specific goods listed...
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  •  
    11/01/2024
    Middle East

    CMS guide on the new KSA Civil Code – Second Edition – Construction Principles

    IntroductionAs set out in our recent Law Now (available here), from 16 December 2023 onwards, civil relationships within the Kingdom will now be governed by the articles of its new Civil Code[1] (the “Civil Code”); which represents a departure from the Kingdom’s previous system whereby civil relations were essentially governed by uncodified Shari’ah principles. One of the principal areas covered by the Civil Code is construction – which previously had not been codified (other than in respect of discrete points or contracts procured by the Government).Given the rapid...
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  •  
    09/01/2024
    International

    Further transparency rules come into force: The US Corporate Transparency Act will require action by overseas companies

    The US Corporate Transparency Act (the “CTA”) came into force on 1 January 2024. Going forward, certain entities (“reporting companies”) will be required to file new online beneficial ownership information reports (“BOI reports”) with the US Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”). Many US and foreign companies will be required to file these reports.The CTA is part of a long-standing US federal effort to reduce money laundering at small corporations operating in the US by improving the transparency of corporate...
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