Changes to the law governing Abu Dhabi's financial free zone, Abu Dhabi Global Market, will strengthen the jurisdiction of its courts by allowing for the reciprocal enforcement of judgements across the wider Abu Dhabi legal system.
The amendments to the founding law of Abu Dhabi Global Market will formalise the dual licensing regime set up under the Ghadan 21 initiative, allowing for ADGM-based entities to set up branches, subsidiaries or representative offices in the city without having to set up a separate onshore entity and strengthens the jurisdiction of ADGM Courts.
Parties will be allowed to choose ADGM Courts as a jurisdiction for a hearing without any prior connection to ADGM. ADGM Courts and the Abu Dhabi Judicial Department will also enact a "reciprocal enforcement of judgements" between the two courts, but ADGM Courts judgements will not be enforceable outside the emirate.
"These amendments reinforce ADGM’s position as a thriving international financial centre with a robust and progressive regulatory framework," said Ahmed Al Sayegh, UAE minister of state and chairman of Abu Dhabi Global Markets.
"These changes to the Founding Law record our acceptance as a judicial system that is respected, transparent, reliable and accessible," said Lord David Hope, Chief Justice of ADGM Courts. "In a very short space of time we have earned a reputation as international common law commercial courts that have transformed the delivery of judicial services through the innovative and unique use of technology."
ADGM Courts has published a guide to the amendments to give people a better understanding of what it means for those who want to use its dispute resolution framework.
Results
Stage 7:
1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29
2. Sam Bennett (IRL) Deceuninck-QuickStep - same time
3. Phil Bauhaus (GER) Bahrain Victorious
4. Michael Morkov (DEN) Deceuninck-QuickStep
5. Cees Bol (NED) Team DSM
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28
2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35
3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02
4. Chris Harper (AUS) Jumbo-Visma - 0:01:42
5. Neilson Powless (USA) EF Education-Nippo - 0:01:45
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
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Group G: Manchester City, Wydad, Al Ain, Juventus.
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