News from the Courts
1) The DIFC Courts’ growing framework of cooperation agreements with commercial courts in Asia took a significant step forward last month with the signing of a memorandum with the Supreme Court of Korea. The document, which covers the mutual enforcement of money judgments, was signed in Seoul by Michael Hwang, chief justice of the DIFC Courts and justice PARK Byoung-dae, minister of National Court Administration of the Supreme Court of Korea.
The UAE and South Korea are major trading partners, with bilateral trade estimated to be worth USD7 billion in 2014. Major exports from the UAE include oil and petroleum products and aluminium, while electronics, steel goods, textiles and vehicles are imported in significant numbers from South Korea. The two countries also have strong links in areas such as education, healthcare and renewable energy.The memorandum offers companies operating in the UAE and South Korea additional certainty about the strength of a contract by setting out the procedures for the mutual enforcement of money judgments.
DIFC Courts chief justice Michael Hwang said, “Asia is a hugely important market for companies in the Middle East, which is why we have prioritised establishing formal links with court systems in the region. We are delighted to establish formal links with one of the powerhouses of the world economy and look forward to working with the Supreme Court of Korea to support this important trade corridor.”
Justice PARK Byoung-dae, minister of National Court Administration of the Supreme Court of Korea added, “With trade ties between South Korea and the UAE becoming ever stronger, it is important that the commercial legal systems cooperate and align their procedures for enforcing judgments. Our agreement with the DIFC Courts achieves this objective and will provide additional confidence to companies and investors operating in our two countries.”This is the second cooperation agreement signed in 2015 by the DIFC Courts and a judiciary in Asia, following a similar memorandumwith the Supreme Court of Singapore.
2) Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, announced the appointment of four judges to the Abu Dhabi Global Market Courts; Lord Mark Saville of Newdigate PC, The Hon. Kenneth Hayne AC, Sir Peter Blanchard KNZM and William Stone SBS QC.
All four judges will be responsible for presiding over ADGM’s legal framework through ADGM Courts of the First Instance and of Appeal. ADGM Courts is one of the three independent authorities within ADGM and will have jurisdiction over all civil and commercial disputes on Al Maryah Island.
Commenting on the appointments, His Excellency Ahmed Ali Al Sayegh, Chairman of ADGM, said, “The appointment of four highly respected and qualified judges to ADGM Courts has further strengthened ADGM’s judicial capacity. The appointees bring vast experience and reaffirm ADGM’s commitment to instituting a world class and robust legal framework for local, regional and global organisations as they establish a business presence in our financial centre.”
The Right Honourable Lord David Hope, Chief Justice of Abu Dhabi Global Market Courts, commented, “I am delighted that judges of such outstanding calibre and experience have been willing to join us to serve as Judges to ADGM Courts. Their presence will serve to emphasise the character of the Courts as institutions of international excellence, and our commitment to providing a service for the resolution of disputes that is of the highest quality.”
3) Dubai Courts has launched the ‘Mohammed Bin Rashid Smart Majlis’– thelargest smart and integrated platform in Dubai connecting 30 entities that will receive suggestions, comments, and ideas of the public.
The initiative of director general of Dubai Courts and the Leadership Council came in line with directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, who said, “Today, in the era of smart city, the smart Majlis is a platform dedicated to receive the innovative ideas and comments, and further allows everyone in Dubai to contribute to enhancing leadership of Dubai in various sectors and fields.” The smart Majlis will help to discuss different issues and to enrich the development process effectively.
HE Tarish Eid Al Mansouri, Director General of Dubai Courts praised the new initiative of His Highness Sheikh Mohammed Bin Rashid and his launch of the Smart Majlis, that aims to improve quality of life in Dubai to become the world’ smartest and most innovative city. He pointed out that the diversity in the channels of communication between the people and the leadership allows the effective participation of all society segments in the decision making process and optimal use of different experiences.
