This month we bring you a special focus on a continent that boasts the world’s largest free trade area, a diverse economic make-up and increasing political stability. The latest edition of Law Update focuses on Africa, a territory that continues to be an attractive business and investment destination.
Like the rest of the world, Africa is still re-building from the impact of COVID-19, however, there continues to be an optimistic view of the opportunities the continent presents. An example of the appetite for investment into Africa was captured in a report we commissioned, titled Legal Leaders in MENA. Our survey of legal leaders revealed a resounding desire to expand into new territories, with 81% naming Africa as their investment destination of choice.Read the full edition
The Abu Dhabi Court of Cassation, in Appeal no. 924 of 2009, integrated the following important rules in respect of arbitration:
The Petitioner entered into an agreement with the Respondent for the purchase of a luxury dress. Since the Petitioner failed to make full payment of the price, the Respondent requested the Court to appoint an arbitrator to resolve the parties’ dispute, in accordance with the arbitration clause in the agreement. The Court of First Instance appointed an arbitrator who issued an award in favor of the Respondent. The Respondent initiated an action for the ratification of the award before the Court of First Instance, which ratified the award. The Petitioner appealed before the Court of Appeal, which confirmed the decision of the Court of First Instance. Thereafter, the Petitioner filed a petition to the Court of Cassation.
The Court of Cassation
The Petitioner made the following arguments. The Court of Cassation’s findings are set out below each point:
Accordingly, the appeal was dismissed by the Court of Cassation.