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Financial Times

http://ftalphaville.ft.com/blog/2010/02/12/148371/dubai-cds-deja-vu/

Dubai CDS, deja vu


The National

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100211/BUSINESS/702119896/1005

Dubai mulls extending power of DIFC courts


One plus one equals ????? (I know thats a bit of a stretch as thats the kind of complicated math that got Dubai World into this pickle ....)

I am currently offering odds on a "controlled move into administration" under the DIFC within 4 weeks - any takers ?

And before we even wander down the line of "you are just a Dubai basher.." Yup I am - live with it.

Two comments were posted by readers of the National. The first comment on the National article (bottom comment) - my first thought is that the DIFC court would conduct the cases in English. If English is not one's first language, it would certainly be their second. I can understand local lawyers having a problem with a change as it would probably end up in a considerable loss of business as currently cases outside of the DIFC can only be represented by local lawyers and are conducted in Arabic while translators are required. All documentation is in Arabic. The fear from the local lawyers is that companies more than likely would turn to international law firms for representation. To model new laws after the UK and the US would be a wise move. To allow people to actually understand what is being said during a "trial" is beneficial to all.

The second comment (top comment) - made by an Abu Dhabi local states that of the 80% expats in the UAE, the majority were Arab. What?!?!?!

Bora Bora wrote:Two comments were posted by readers of the National. The first comment on the National article (bottom comment) - my first thought is that the DIFC court would conduct the cases in English. If English is not one's first language, it would certainly be their second. I can understand local lawyers having a problem with a change as it would probably end up in a considerable loss of business as currently cases outside of the DIFC can only be represented by local lawyers and are conducted in Arabic while translators are required. All documentation is in Arabic. The fear from the local lawyers is that companies more than likely would turn to international law firms for representation. To model new laws after the UK and the US would be a wise move. To allow people to actually understand what is being said during a "trial" is beneficial to all.

The second comment (top comment) - made by an Abu Dhabi local states that of the 80% expats in the UAE, the majority were Arab. What?!?!?!

BB, that fella from Abu Dhabi (top comment) is still living in his own closed quarters. His ignorance of the people around him shows how much he really cares about expatriates...nothing to be exact.

I like this comment below:

Added: 02/12/10 08:02:00 AM

If the Judicial system in Dubai is able to engage in English language then such a necessity may not be immediate. 80% of the population is expatriate and alien to local language it is just not acceptable that the official language can only be the local language. Further the Statutes are not updated and are not in sync with civilised societies. Law should probe the intent, not just the action. But here the law just scans the action and not the intent. A incredulous foundation that is bound to falter and fail to deliver judgements that may be acceptable in the current times. We belong to the 21st Century, not in the medieval times. Here we tend to go back in times, in terms of official language of communication and the judicial system. If UAE needs to march along with the comity of nations, then it should aim for change, which certainly would be for the better than it is now.
Dr KB Vijayakumar PhD, Dubai

Finally some PhD recognition for what I've been saying all along. Its backwards, medieval law in Dubai!

Arab expats dont comprise more than 35 % of the total expat population, i.e. not more than 28% of the total population here.

RobbyG wrote:

Bora Bora wrote:Two comments were posted by readers of the National. The first comment on the National article (bottom comment) - my first thought is that the DIFC court would conduct the cases in English. If English is not one's first language, it would certainly be their second. I can understand local lawyers having a problem with a change as it would probably end up in a considerable loss of business as currently cases outside of the DIFC can only be represented by local lawyers and are conducted in Arabic while translators are required. All documentation is in Arabic. The fear from the local lawyers is that companies more than likely would turn to international law firms for representation. To model new laws after the UK and the US would be a wise move. To allow people to actually understand what is being said during a "trial" is beneficial to all.

The second comment (top comment) - made by an Abu Dhabi local states that of the 80% expats in the UAE, the majority were Arab. What?!?!?!

BB, that fella from Abu Dhabi (top comment) is still living in his own closed quarters. His ignorance of the people around him shows how much he really cares about expatriates...nothing to be exact.

I like this comment below:

Added: 02/12/10 08:02:00 AM

If the Judicial system in Dubai is able to engage in English language then such a necessity may not be immediate. 80% of the population is expatriate and alien to local language it is just not acceptable that the official language can only be the local language. Further the Statutes are not updated and are not in sync with civilised societies. Law should probe the intent, not just the action. But here the law just scans the action and not the intent. A incredulous foundation that is bound to falter and fail to deliver judgements that may be acceptable in the current times. We belong to the 21st Century, not in the medieval times. Here we tend to go back in times, in terms of official language of communication and the judicial system. If UAE needs to march along with the comity of nations, then it should aim for change, which certainly would be for the better than it is now.
Dr KB Vijayakumar PhD, Dubai

Finally some PhD recognition for what I've been saying all along. Its backwards, medieval law in Dubai!

well it would be difficult to do so since there are 200+ nationalities within those 80% not to mention that the majority are Asians who does not speck English or Arabic !

on the other hand Netherlands only allows Dutch in court even though they have more immigrants than the UAE , I guess they are the ones leading us backwards

http://www.bloomberg.com/apps/news?pid=20601104&sid=ay72uP4NvnYo

Dubai World Creditors May Get 60% in Debt Deal, Zawya DJ Says

Feb. 14 (Bloomberg) -- Dubai World may offer its creditors 60 cents on the dollar after seven years as part of a deal to restructure $22 billion of debt, Zawya Dow Jones reported, citing unidentified people familiar with the plans.

The deal may be guaranteed by the government and may not offer interest payments to creditors, Zawya Dow Jones reported.

+++

around half back over 7 years and no interest - Hmmm lemme see ..........

Anyone think this sounds like a good deal - anyone except Dubai World ?

Thats not a restructuring - the only thing I can think off that is similar, is a rapist who blames his beer and demands to be let off but to add insult to injury looks to detain the victim in custody whilst he sues the brewery !!!!!! (Did this not happen in the Dubai Courts a few years back ? )

What pickled brained camel jockey thought this one up !

----------------------------------------
May you live in interesting times!

uaekid wrote:

RobbyG wrote:
BB, that fella from Abu Dhabi (top comment) is still living in his own closed quarters. His ignorance of the people around him shows how much he really cares about expatriates...nothing to be exact.

I like this comment below:

Added: 02/12/10 08:02:00 AM

If the Judicial system in Dubai is able to engage in English language then such a necessity may not be immediate. 80% of the population is expatriate and alien to local language it is just not acceptable that the official language can only be the local language. Further the Statutes are not updated and are not in sync with civilised societies. Law should probe the intent, not just the action. But here the law just scans the action and not the intent. A incredulous foundation that is bound to falter and fail to deliver judgements that may be acceptable in the current times. We belong to the 21st Century, not in the medieval times. Here we tend to go back in times, in terms of official language of communication and the judicial system. If UAE needs to march along with the comity of nations, then it should aim for change, which certainly would be for the better than it is now.
Dr KB Vijayakumar PhD, Dubai

Finally some PhD recognition for what I've been saying all along. Its backwards, medieval law in Dubai!

well it would be difficult to do so since there are 200+ nationalities within those 80% not to mention that the majority are Asians who does not speck English or Arabic !

on the other hand Netherlands only allows Dutch in court even though they have more immigrants than the UAE , I guess they are the ones leading us backwards

lol, it wouldn't be bad to receive a translator if the law was based on International common law! Instead, in Dubai we listen to a translator who translates case law based on a judicial body that has no broad experience in International law and rules in favor of torture by a Sheikh.

You are a madman Kid. Honestly, seek proper councelling...

well as I hope you may know you do not have an international common law nor they are applicable in most cases ... that's said, some of your laws has been influenced by the British ! yup,, it came after so many years of them bitc*hing your country around LOL

uaekid wrote:well as I hope you may know you do not have an international common law nor they are applicable in most cases ... that's said, some of your laws has been influenced by the British ! yup,, it came after so many years of them bitc*hing your country around LOL

When it comes to law, our justice system is based on Civil law, derived and progressed from english common law system. Remember the word 'civil' as you still have to interpretate that sensibility in Islamic law.

Anyway, We kicked them British butts properly back in the 17th century, here in Amsterdam we erected the first stock market with the United East-Indian Company (VOC) on a joint-equity limited liability basis and boy did we plunder some wealth from the British and Spanish armada's. Never seen a Brit nor a Spaniard barking in my territory since...

But still, the Brits are ok. Just like the American's...a bit odd

In fact, the Spaniards lost faith in conquering us as early as the late 16th century. We cut loose from those Christian dogs and became Federal with freedom of religious convictions. About 250 years later, we turned back to Monarchy, but thats only for show. Its because Monarchs (Kings and Queens) don't know anything about finances and that was unacceptable for the ruling elite in Holland. Just look at France and how they spend into oblivion debasing the livre back then, among many other monarchies

By the way, Dubai's ruler doesn't know finances either. Better turn Federal and listen to your Big Bro Abu