Dubai New Economy Legal Forum 2023 | Pravo.ru
Last year, Russian companies opened 700 legal entities in the UAE. The country turned out to be popular for companies that under present-day conditions use the Emirates’ offshore infrastructure for international trade and structuring of the business and assets. However, the firms and lawyers who support them still have to adapt to new laws and regulations. Thus, in a situation of restricted access to justice for Russian companies, the Dubai International Arbitration Centre offers to use its arbitration clause for international contracts. This topic, alongside with others, was discussed by lawyers during the first Dubai New Economy Legal Forum from Pravo.ru.
One of the NELII thought leaders is ART DE LEX Managing Partner Dmitry Magonya. He intends to continue to hold events at global centres of economy undergoing rapid transformation.
«Dubai New Economy Legal Forum is the first event in the NELII program plan. The forum brought together business people from Russia and the UAE, as well as lawyers from different countries, representing consulting and corporate sector. Subsequently, on the NELII basis, in a similar format, regular meetings of economy and law experts will be held. In addition to that, systematic expert work will be held here to study the business and legal landscape of expanding economies of Asia, Africa, South America and other countries».
ART DE LEX Partner Eduard Bekeschenko noted that a paramount criterion was independence and neutrality of the forum, its ability to arbitrate disputes with participation of sanctioned persons.
«If a dispute is referred to an arbitration, it is necessary to select an institution that is capable for forming a neutral arbitration panel. Selection of arbiters has become much more complicated, since, on top of assessment of their competencies, it is necessary to check and decline politically engaged candidates. Parties are increasingly using mechanisms of dispute referral to the Russian state system of courts, applying mechanisms stipulated by law».
