The massive debt problems in Dubai have led to complex efforts to restructure that debt, as well as the Emirate’s legal framework itself. So there are still many questions that counsel and creditors are waiting to get some answers to.
As Jack Bunker points out on Westlaw Business Currents in his post titled, “Trimming the Sails: Dubai Investors Lurch Into Uncharted Court Waters,” there are billions of dollars at stake and the legal and financial communities are watching very closely.
Bunker examines the tension in Dubai World and the risks within the context of litigation involving Dubai:
This analysis is no mere history survey in its look at Dubai World. Government-owned entities in Dubai still have tens of billions in debt coming due in the next few years. The skein of lines demarcating Dubai’s government and its many state-owned entities can be dizzying. Compounding this, the ad hoc juxtaposition of regulatory agencies, official decrees, Dubai law, Free Zone law and UAE federal law is no more easily negotiable than that of complex legal frameworks in the West.
You can read the full post on Westlaw Business Currents.
Posted by Kevin Hunt in:
In Business | Industry trends |
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