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23 Mar 2015

Shareholder Agreements in the UAE – The Good, The Bad and The Ugly!

Al Tamimi hosted an absorbing seminar on Shareholder Agreements in the UAE, which was attended by almost 100 business men and women on 23 March 2015. Gary Watts, Regional Head of Corporate Commercial, chaired the discussion which provided practical guidance on making shareholder agreements in the UAE with particular a focus on minority rights and control. Gary, along with fellow Corporate Commercial Partner Marcus Wallman, looked at the essential building blocks for building solid joint venture agreements then focused on how this works in practice with a case study particularly highlighting the issues that can be faced by minority shareholders.

Mohammed Al Muhtaseb and Zeeshan Dhar from Al Tamimi's Litigation team spoke to the audience about the issues that arise in enforcing shareholder agreements in the UAE and the DIFC. Mohammed focused on the main actions before the UAE Courts that can arise from a failure to supply shareholders with the required reports and mismanagement, as well as remedies available including judicial guardianship and liquidation. Zeeshan compared this with actions available through the DIFC Courts including Unfair Prejudice Petitions.

The seminar was well received with many questions raised by the audience. For advice on these issues or more information please contact the team at Al Tamimi.