saudi arabia

RA-ICC-DOCDEX-recovery-legal
ICC DOCDEX panel decides in favor of RA’s client, Issuing Bank liable to honor LC
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The International Chamber of Commerce (ICC) DOCDEX panel has decided in favor of RA’s client, by deeming an Issuing Bank liable to honor a documentary credit of approximately USD 26,000,000 plus interest. Details of the dispute: The dispute mainly revolved...
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recovery-advisers-uae-bankruptcy-law
Amendments to UAE Bankruptcy Law – Major Step Forward To Protect Creditor’s Interests
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In Brief As a result of the repercussions of the COVID-19 pandemic, the United Arab Emirates (UAE), have recently applied amendments and provisions to the UAE Bankruptcy Law. As per the most recent amendments to the UAE Bankruptcy Law, Recovery...
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saudi-supreme-court-commercial-ruling
Saudi Supreme Court Resolution No. (45/ M) applies force majeure to commercial transactions
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The Saudi Supreme Court has ruled, as of December 23, 2020 (08.05.1442 AH) to apply force majeure to commercial transactions that meet certain conditions, brought on by the COVID-19 pandemic, based on resolution No. (45/ M). After an extensive review...
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saudi-supreme-court-commercial-ruling
Saudi Supreme Court Resolution No. (45/ M) applies force majeure to commercial transactions
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사우디 대법원은 2020년 12월 23일 45/M 규정에 따라 일정 조건이 충족되면 코로나 19관련 상사 거래를 불가항력상황 으로 보고 있습니다. The Saudi Supreme Court has ruled, as of December 23, 2020 (08.05.1442 AH) to apply force majeure to commercial transactions that...
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recovery-advisers-uae-commercial-law-creditors
Claiming outstanding debt facilitated by changes to UAE Civil Procedures Law
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UAE Civil Procedures Law introduces changes to litigation in UAE Courts.  In May 2020, the UAE Civil Procedures Law was amended, with the introduction of the UAE Ministerial Decree No. 33 of 2020, pertaining to the amendments of the Ministerial...
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recovery-advisers-uae-commercial-law-creditors
Claiming outstanding debt facilitated by changes to UAE Civil Procedures Law
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미지급 채무 청구와 관련된 UAE 민사 소송법 개정 2020년 5월 UAE 민사 소송법이 채권자 친화적으로 개정되어, 지급명령은 민사 소송법 63조 4항에 의거하여 3일 이내 판결을 내리도록 개정되었고, 소송을 제기할 경우 채권을 증명하기 위해 제출하는 문서도 채무 인정과 관련된 문서로 간소화...
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recovery-advisers-dubai-courts
Recovery Advisers succeeds in landmark case representing ECA against Dubai-based trading company
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Recovery Advisers가 ECA를 대리해서 두바이에 있는 수입업자를 상대로 보험자 대위 소송을 제기하여 승소하였습니다. 해당 판결은 두 가지 점에서 매우 의미 있는 판결로 생각됩니다. 첫번째로 두바이 법원은 보험자가 대위채권을 행사할 경우 수출업자간 계약서상의 중재합의 조항이 적용이 되지 않는다고 판결하여 그 동안...
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recovery-advisers-dubai-courts
Recovery Advisers succeeds in landmark case representing ECA against Dubai-based trading company
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Dubai Courts uphold party autonomy and decide against subrogating an arbitration agreement. Recovery Advisers prevailed in a landmark case representing a major Export Credit Agency (ECA) in front of the Dubai Courts. The key outcome of the case addresses two...
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RECOVERY-ADVISERS-SAUDI-ARABIA-LAW
New Saudi Commercial Courts Regulations to boost recovery options in KSA
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Introduced on 15th April 2020, the new Saudi Commercial Courts Regulation (CCR) updates and enhances the process of commercial dispute resolution in the Kingdom of Saudi Arabia (KSA) to make it more efficient, transparent and in line with leading global...
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RECOVERY-ADVISERS-SAUDI-ARABIA-LAW
New Saudi Commercial Courts Regulations to boost recovery options in KSA
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사우디 내 회수 방안을 강화하기 위한 사우디 상사 법원 규정 2020년 4월 15일 발효된 사우디 상사법원 규정은 사우디가 상사사건을 처리함에 있어 상사 분쟁 환경을 현대화 하고 집행 명령등을 도입하여 판결을 빨리 받아볼 수 있는 절차를 도입하는 등 국제 관행에 합치하도록...
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