Insights

Kuwait competition authority (CPA) imposes a hefty fine for failure to make proper filing
Kuwait competition authority (CPA) imposes a hefty fine for failure to make proper filing
October 18, 2023

The Ministry of Human Resources and Emiratization announced yesterday that the Government’s Emiratization drive now includes private companies with 20 to 49 employees. This expansion applies to companies across 14 economic sectors, including, inter alia, real estate, education, construction, and healthcare. Previously, only companies with 50 or more employees were… Read more

Updated ultimate beneficial ownership (UBO) regulations in Kuwait
Updated ultimate beneficial ownership (U...
October 17, 2023

Earlier this year, the Ministry of Commerce and Industry (“MOCI”) in Kuwait issued Ministerial Resolution No.4 of 2023 (“the Resolution”) setting out an obligation for the identification of ultimate beneficial owners (“UBO”). The Resolution applies to all entities registered in the State of Kuwait, unless specifically exempted. Immediately after the… Read more

Amendments to the UAE arbitration law
Amendments to the UAE arbitration law...
October 9, 2023

The UAE has amended its federal arbitration law to introduce more flexibility to arbitration proceedings and lift certain restrictions on the parties’ freedom to nominate arbitrators. While most of the amendments are cosmetic and reiterate established principles of UAE law (e.g., the tribunal’s freedom to assess the evidence and the… Read more

UAE announces end-of-service scheme for employees
UAE announces end-of-service scheme for ...
September 5, 2023

The Prime Minister and Ruler of Dubai announced yesterday a new end-of-service benefits system for employees in the private sector and free zones. This voluntary initiative will include the establishment of savings and investment funds from the private sector, overseen by the Securities and Commodities Authority in partnership with the… Read more

New measures to enforce compliance to KFAS
New measures to enforce compliance to KF...
August 20, 2023

Earlier this year, the Ministry of Commerce and Industry (MOCI) issued a resolution amending the Companies Law thereby compelling Kuwait Shareholding Companies (KSC) to include in their budgets a clause that supports Kuwait Foundation for Advancement of Sciences (KFAS) with 1 percent of their annual net profits. On 17 August… Read more

Ministry of Finance Issues New Ministerial Decisions Relating to Corporate Tax
Ministry of Finance Issues New Ministeri...
August 14, 2023

As part of the series of new Ministerial Decisions under Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, the UAE Ministry of Finance introduced, on 28 July 2023, the following three new Cabinet Decisions: 1- Cabinet Decision No. 74 of 2023 outlining the Executive Regulation… Read more

The Saudi Arabian civil transactions law: another key reform in line with best international judicial practices
The Saudi Arabian civil transactions law...
July 31, 2023

The Saudi Arabian Civil Transactions Law (the “Law”) was enacted by Royal Decree no. M/191 on 19 June 2023 and is expected to become effective on the 16th of December 2023. The Law is the first civil code for the Kingdom. Prior to its enactment, civil transactions were governed by… Read more

Firm news

Meysan Obtains Rare Annulment of Previous ICSID Judgment; only 5% of Annulment Applications Granted in the History of ICSID – Agility Will Refile Claims Against Iraq.
Meysan Obtains Rare Annulment of Previous ICSID Judgment; only 5% of Annulment Applications Granted in the History of ICSID – Agility Will Refile Claims Against Iraq.

In a major Victory for Agility, this Action is a Bellwether of Whether there is a True Rule of Law for Those Who Invest in Iraq Three years ago, an international arbitration tribunal constituted under the auspices of the International Centre for the Settlement of Investment Disputes (ICSID) denied claims… Read more ...

Meysan Secures Landmark Decision: Administrative Court Overturns Kuwait Capital Markets Authority’s Ruling
Meysan Secures Landmark Decision: Administrative Court Overturns Kuwait Capital Markets Authority’s Ruling

In a landmark decision, Meysan succeeded in obtaining an administrative court ruling overturning a decision by Kuwait’s Capital Markets Authority.  Meysan represented a shareholder in a local logistics company who submitted a whistleblower complaint to the CMA, alleging that the company had failed to properly comply with local disclosure obligations,… Read more ...

Meysan Secures favorable judgment for Al Farwaniyah Property Developments LLC in a high-stakes litigation
Meysan Secures favorable judgment for Al Farwaniyah Property Developments LLC in a high-stakes litigation

Abu Dhabi, UAE - In a significant legal victory, Meysan has successfully secured a favorable judgment for its client, Al Farwaniyah Property Developments LLC, in a high-stakes litigation involving claims exceeding 137,000,000 UAE dirhams. The case originated when a bank initiated legal proceedings against Al Farwaniyah and other parties, seeking… Read more ...

Salma Abdelaziz
Senior Associate, EGYPT

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Salma Abdelaziz
Senior Associate, EGYPT