EFTA02546608

From: jeffrey epstein <[email protected]> Sent: Sunday, December 4, 2011 10:46 AM To: Sultan Bin Sulayem Subject: Re: The DIFC Court "Goes global George Mitchell is my very=close friend and chairman of piper Sent from my iPad O= Dec 4, 2011, at 4:28 AM, Sultan Bin Sulayem < Mr <mailto > wrote: <=1" If you have problems viewing this email, yo= can view it as a web pa=e <http://information.dla.comirs/vm.ashx?ct=24F76D1CD2ES0AED=1D180A9DA2B921BDEBE7BB3D38714DD4CF371647B F8D90DDD78030> . <ATT00001..bin> LEGAL. AL=RT DECEMBER 2011 <=h1> </=ont> The DIFC Court "Goes Global"<=b> A recent development in Dubai's court system has expanded the scope of th= DIFC Courts' jurisdiction so that it is now available as an =9Copt in" jurisdiction to all parties worldwide. This is a potentia=ly significant development, which could have a considerable impact on compa=ies and individuals who are considering appropriate dispute resolution mech=nisms for contracts and disputes in the Middle East. This development could lead companies to select the DIFC Courts to resolv= their disputes regardless of where they are in the world. We envisag= that this change will in particular have a significant impact on financial=institutions operating in the MENA region, among others, and as such we bel=eve that this is a development that all businesses, whether currently opera=ional in the Middle East or planning to expand into the region, should be a=are of. What has happened? We await publication of the legislation, but the DIFC Court has announced=that a decree has been promulgated which extends the scope of the jurisdict=on of the Courts of the Dubai International Financial Centre ("DIFC"= so that parties EFTA_R1_01700565 EFTA02546608 anywhere in the world can agree to refer their disputes to=the DIFC Courts, regardless of whether there is any connection between the s=bject matter of their dispute and the DIFC. In other words, two or more con=racting parties that have no connection whatsoever with the DIFC can now ch=ose to have their disputes resolved before the DIFC Courts. Why is this significant? This is a potentially game-changing event for dispute resolution in the M=ddle East region because: 1. The DIFC Court is a state-of-the-art common law court whose procedures=are based on the English civil procedure rules (with the ability to grant s=mmary judgment), and whose judges comprise very experienced former judges f=om the senior courts of (for example) England, Singapore and New Zealand;</=> 2. Judgments rendered by the DIFC Courts can be enforced in the onshore D=bai courts as Dubai court judgments and this has happened on numerous occas=ons; 3. In contrast to many offshore courts, parties in the DIFC Court can be a=arded the bulk of their legal and expert costs and expenses; 4. Dubai is signatory to two conventions providing for the recognition an= enforcement of court judgments in many countries in the MENA Region. =These are: • the 1983 Convention on Judicial Co-operation between States of the Arab L=ague (the "Riyadh Convention"), to which all of the Gulf Cooperation=Council ("GCC") countries, as well as Iraq, Palestine, Sudan, Mauret=nia, Somalia, Tunisia, Jordan, Morocco, Libya, Algeria, Yemen and Syria are=signatoryi=j; and ` the 1995 Protocol on the Enforcement of Judgments Letters Rogatory,=and Judicial Notices issued by the Courts of the Member States of the Arab G=If Co-operation Council (the "GCC Protocol"), to which all of the GC= countries are signatory. Why should this interest you? If your company conducts business in the above countries we encourage you=to speak with us to discuss the significance and implications of this new l=gislation on your business and in particular, on your existing dispute=resolution policies. We believe that this development may be particul=rly important for: • financial institutions with a presence in the MENA region, as the judges=in the DIFC Courts have experience of handling complex cross-border financi=l disputes, and the power to grant summary judgment; • parties contracting with regional financial institutions; • businesses with a presence in the UAE and in the wider MENA region,=which will need to review their standard and bespoke contracts in light of t=is development; and • clients with an existing business, or planning to do business, in t=e Kingdom of Saudi Arabia since this development may present an alternative=option for dispute resolution in contracts involving the Kingdom of Saudi A=abia. How can we help? The DLA Piper dispute resolution team in Dubai is one of the leading disp=te practices in the region. The Dubai team has considerable experienc= with DIFC laws and the DIFC courts and is well-equipped to provide you wit= valuable advice in relation to the implications of this new legislation on=your business and, in particular, your existing dispute resolution policies= In this regard, we can: 2 EFTA_R1_01700566 EFTA02546609 4, come and present to you on this new development, and on dispute resoluti=n options in the region more generally; • conduct a review and analysis of your standard contracts and existi=g dispute resolution policies; • draft such a policy and/or standard contract and/or bespoke dispute=resolution clause where none exists; and • advise on options and strategies for opting into the DIFC courts' j=risdiction for both existing and future contracts. We strongly encourage you to contact us and discuss how you can take full=advantage of this new development in dispute resolution in the Middle East.=nbsp; For further information, please contact: <http://information.dla.com/information/images/Jim%20Delkousis2.jp=> Jim Delkousis Litigation & Regulatory Practice Gr=up Hea 11] We have not seen the domestic implementing legislation for each of th=se countries at the time of publication. cont color="#bf2296"> USEFUL INFORMATION =/p> cont color="#bf2296"> KEY CONTACTS <=ont color="Nbf2296"> ENQUIRIES For more information on DIA Piper in the Middl= East and our practices throughout the region, please click here. 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DIA Piper Middle East will accept no respon=ibility for any actions taken or not taken on the basis of this publication= Please note that DLA Piper Middle East does not accept responsibil=ty for viruses and it is your responsibility to scan or otherwise check thi= email and any attachments. DLA Piper Middle East LLP is part of DL= Piper, a global law firm, operating through various separate and distinct I=gal entities. For further information, please refer to www.dlapiper.com/middleeast If you no longer wish to receive information from the UAE or any of the DLA Piper members by e-mail please click here. <=td> <http://information.dla.com/rs/ct.aspx?ct=24F76D1CD2ES0AEDC=D180A9DA2B921BDEBE7BB3D39E0DDDSSCE4> NOTE: This e=mail message is subject to the Dubai World Group disclaimer see http://www.dubaiworld.ae/email_disclaimer 4 EFTA_R1_01700568 EFTA02546611