The Dubai Land Department (“DLD”) has not yet officially confirmed the reasons behind suspending registrations of title in the names of offshore companies although they have said through the media that this is a temporary measure.

Monthly report based on practical experience of our team of advocates in the courts of the UAE. This month, Michael Dark re-visits Decree No.57 of 2009, concerning the effect of Dubai World and its subsidiaries.

Recently, both within the UAE and globally, there has been increased focus on insolvency and winding-up of business. Concerns have arisen regarding maximisation of creditor recovery. Legislative developments in global insolvency continue to move away from dissolution oriented systems and towards facilitating survival, where possible, of the business entity facing financial difficulty. Given the extent of foreign investment in the UAE and recent publicity regarding the financial challenges encountered by business incorporated or operating in the UAE, growing attention is focused on the UAE insolvency regime and the ability of creditors to recover debts.

Tim Travers captures a summary of talking points from various speakers at the recent conference to celebrate the 10th anniversary of the establishment of the Securities & Commodities Authority (SCA), which was held at the Emirates Palace, Abu Dhabi, on 15 February 2010.

What legal capacity will home owners’ associations take, how will they be registered and when are owners required to commence paying service charges to the home owners’ association? Brent Baldwin provides the detail.

Dubai Law No.(8) of 2007 On the Matter of Escrow Accounts for Real Estate Development (the Escrow Law) was issued to regulate developers and safeguard purchasers’ money in respect of off-plan property purchases in Dubai. However, recently there have been cases where purchasers have been left without recourse to claim return of payments made where the project they invested in failed to complete. Ashraf Sayed examines the protections the Escrow Law offers to purchasers and whether the Escrow Law has succeeded in its objectives.

Now that the rush to comment in the media on the successful foreclosure action by Barclays under the Dubai Mortgage Law of 2008 has quietened down, it is worth considering to what extent, if any, this has changed the position of expatriate property buyers in Dubai.