DIFC Special Purpose Companies Grow in Popularity

Dubai International Financial Centre (DIFC) recently hosted its first Knowledge Series event for 2012, highlighting the benefits of a Special Purpose Company (SPC) and its role in enabling structured finance transactions. An SPC can be easily structured and incorporated in the DIFC, while enjoying certain exemptions from a number of tedious requirements.  One of the […]

UAE Employment Termination Entitlements | Former Nakheel CEO Awarded $3m By DIFC Court

Former Nakheel CEO, Chris O’Donnell, was recently awarded $3.25 million, including $3 million in two unpaid annual bonuses and 54 days of paid leave, amounting to almost AED 850,000. Nakheel was also told to pay for the former CEO’s business class flights back to Australia — at a cost of AED 67,000. Read more about […]

Data Protection Rules In The Dubai International Financial Centre

By Arti Sangar Arti Sangar is a partner in the Dubai offices of Diaz Reus LLP Businesses in the Dubai International Financial Centre (DIFC) and in particular, banking and financial organizations are increasingly processing and exchanging individual data electronically. Many businesses, understandably, consider data protection irrelevant to their operations and are not aware of its […]

Dubai Expands the Jurisdiction of Its Financial Courts

By Arti Sangar Arti Sangar is a partner at the Dubai offices of Diaz Reus LLP, an international law firm with extensive experience in litigation and arbitration In a significant move, the Dubai government recently expanded the jurisdiction of the Dubai International Financial Centre Courts (the “DIFC Courts”) which will allow any parties, even those […]