dubai Archives - Fichte & Co Legal

Approaching Deadline: Amendments to Constitutional Documents of Mainland Companies

Dr. Laura Voda — Tue, 19 Oct 2021 01:49:50 +0000

The Federal Law by Decree No. 26 2020 (“Decree Law”), issued on November 23, 2020, introduced new provisions amending various aspects of the Federal Law No.2 2015 regarding Commercial Companies (“Commercial Companies Law”). The Decree Law did not only abolish the general requirement for Emirati Majority participation but also introduced new and amended provisions for …

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Is the Arbitration Clause included in the General Terms and Conditions of the Insurance Policy a valid clause?

Mahmoud Ahmed — Thu, 07 Oct 2021 03:26:37 +0000

Our client approached us to assist him in filing a case against one of the well-known UAE Insurance Companies. The client complained about his insurance company refusing to cover a surgery under the medical insurance policy. The reason brought for the rejection was that the natural condition of the Insured is due to a congenital …

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Covering the same Risk under Multiple Insurance Policies

Ahmed Salih — Tue, 28 Sep 2021 08:40:14 +0000

The concept of insurance depends on the participation of a group of persons, whether physical or corporate (the insured), that distribute the risks that may result from specific events. The insureds pay pre-determined contributions to the insurance company (the insurer), which undertakes, accordingly to the policies agreed, the responsibility to pay the insurance amount for …

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Dissolution of EMAC and its effects on the business community

Dr. Laura Voda — Wed, 22 Sep 2021 03:33:30 +0000

On September 14 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued Decree No. 34 of 2021 (“Decree”) regarding the Dubai International Arbitration Centre (DIAC). The Decree dissolves Emirates Maritime Arbitration Centre (EMAC) and replaces it with the Dubai International Arbitration Centre (DIAC), …

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Is it going to be the end of abandoned vessels in UAE waters?

Jasmin Fichte — Wed, 07 Jul 2021 03:53:31 +0000

Recently, we have witnessed the massive development in the UAE maritime industry; the UAE has acceded to two major international conventions, namely the 1996 Protocol on Limitation of Liability (“LLMC“) and the 2001 International Convention on Civil Liability for Bunker Oil Pollution Damage (“Bunker Convention”). Further, negotiations are carried out for the ratification of the …

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8 Things to know about the International Convention on Civil Liability for Bunker Oil Pollution Damage in the UAE

Jasmin Fichte — Wed, 30 Jun 2021 04:10:27 +0000

The UAE recently approved the accession to the International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (the ‘Bunker Convention’), which has entered into force in the territory of the UAE on 23rd June 2021. This is another step showing the dedication of the UAE to implement the IMO’s Liability and Compensation Regime …

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Changes in the Consumer Protection Legislation in UAE: everything you need to know

Dr. Laura Voda — Thu, 24 Jun 2021 05:03:40 +0000

Introduction Offering an augmented revising to the legal structure bordering consumer protection, Federal Law No. 24/2006 on the Consumer Protection (the “Former Law “), has been rescinded and replaced with Federal Law No. 15/2020 on Consumer Protection (the Consumer Protection Law). The new law alterations offer additional fortification towards the consumer entitlements within the United Arab Emirates (“UAE“). As this new …

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New regulation on Bounced Cheques and its Implications

Dr. Laura Voda — Wed, 16 Jun 2021 05:04:50 +0000

Introduction The UAE being a commercial hub with an expanding economy, cheques are one of the common forms of payments, regardless of the size of the transaction, and they are also used as a method of security. However, with cheques comes challenges such as bounced or dishonored cheques due to various reasons that can be …

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Fichte & Co Partners are now appointed as Special Agents of the Liberian Maritime Authority

Jasmin Fichte — Thu, 27 May 2021 07:54:37 +0000

Fichte & Co, a leading UAE based lawfirm, is delighted to announce that Jasmin Fichte, its Managing Partner, and Alessandro Tricoli, its Partner and Head of Shipping Department, have been appointed as Special Agents of the Commissioner of the Liberian Maritime Authority of the Republic of Liberia to render maritime and corporate services. With this step, Fichte …

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Limitation of Liability for Maritime Claims (LLMC) Convention and Applicability in the UAE: 10 Things to Know

Jasmin Fichte — Thu, 29 Apr 2021 02:57:03 +0000

Introduction The UAE has recently ratified the 1996 Protocol to the 1976 Convention on Limitation of Liability for Maritime Claims (LLMC) and this protocol will enter into force on the 23rd of May 2021. What this will mean for the maritime industry and the applicability of the LLMC Convention and the respective Protocol in the …

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