Law firm highlights
Norton Rose Fulbright organised a breakfast seminar on April 29, 2014 titled ‘The evolving legal landscape in Sub-Saharan Africa’ at the DIFC Conference Centre. The event included a panel discussion on an overview of the legal landscape in OHADA and EAC countries, corporate and financing transactions (common issues and risk mitigation strategies) and investment opportunities, challenges and general trends of the region. The panel was chaired by Adjou Ait Ben Idir (senior associate, Middle East & Africa of Norton Rose Fulbright. The panellists comprised of Stephan Riekert(head – Solution Structuring, MENAP (Transaction Banking) Standard Chartered Bank), Karim Shariff (CEO and founder of Majlis Investment Management (Dubai), Vice-Chairman of Teneo Capital Dubai) and Adam Lovett (partner, Tanzania) and Martin Botik (senior associate, Dubai) of the firm.
Cleary Gottlieb Steen & Hamilton LLPexplained the key legal issues for Middle East investors considering investing in Germany at a client seminar titled ‘Investing in Germany – Key Legal Issues’ held in Rosewood Hotel in Abu Dhabi on April 29, 2014. Klaus Riehmer and Oliver Schröder, partners from the firm’s Frankfurt office, who hosted the event for investors based in the region, have extensive experience of advising companies on inbound investments into German private and public companies. They explained that although Germany has a liberal investment environment and MENA-based firms are keen to invest there, unfamiliar legal issues mean that sound legal advice is essential to avoid traps for the unwary.
Patton Boggs LLP and Union National Bank (UNB) presented an exclusive seminar on ‘Protect your Profits: Avoiding and Resolving Disputes in the Construction Industry’ on April 22, 2014 at the Armani Hotel, Dubai. The firm focused on the overview of common causes of construction disputes, avoiding, managing and resolving disputes, dispute resolution and arbitration mechanisms in the GCC, the role of the courts, security bonds and bond calls and time considerations. The speakers included Thomas P. Wilson (managing partner – Dubai), Roy J.Ford (of counsel), Scott Hutton (of counsel) and Jonathan M. Taunton (associate).
Taylor Wessing and Dubai SME, the agency of the Department for Economic Development in Dubai mandated to develop the SME sector, have signed a memorandum of understanding (MoU) to raise greater awareness and impart knowledge to Dubai SME100 companies in the areas of IP management and fund-raising in capital markets. Under the terms of the MoU, Taylor Wessing will organise joint seminars with Dubai SME on intellectual property and IPOs on Nasdaq Dubai as well as offer one-on-one advisory sessions to interested SMEs.
Trowers & Hamlins LLP appointed by the Central Bank of Bahrain as external administrator of The International Banking Corporation B.S.C.(c) (in administration) has filed a USD1.9 billion law suit against Ahmad Hamad Al Gosaibi & Brothers (AHAB) in relation to the deliberate misappropriation of funds raised through the creation of a fraudulent loan book which was at the heart of TIBC's operations. The TIBC Loan Book enabled AHAB to raise enormous sums which it used to trade for its own account. The claim was filed at the Bahrain Chamber of Dispute Resolution (BCDR) and names AHAB itself along with each of its individual partners as defendants. The claim filed on forms part of a wider asset recovery strategy to recover assets for the benefit of TIBC's creditors.
