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International Edition

Middle East lawyers remain calm despite Dubai crisis

Middle East lawyers are moving to downplay fears over Dubai's future amid growing concerns regarding the Emirate's debts. A host of international law firms, including Clifford Chance (CC), Latham & Watkins and Allen & Overy (A&O), have already won roles advising on the restructuring of Dubai World, which last week caused global panic when it emerged it wanted to delay debt repayments.
3 minute read

International Edition

Africa: Breaking bread

Doing business in Africa provides unique challenges and endless opportunities. With fewer conflicts and economic growth rates that are now competitive with those of other developing regions, Africa has experienced positive change and has a substantial offering...
5 minute read

International Edition

Africa: Cartel combat

Since its inception the Competition Act No 89 of 1998 has proved to be a formidable force in combating anti-competitive behaviour in South Africa. In the last year the Competition Authorities have rigorously applied the Act to fight cartel activity, particularly in the construction and fertiliser industries. 2009 has seen some of the largest fines imposed on companies found guilty of participating in cartels. The last year has also seen the enactment of the Competition Amendment Act, the commencement of which has yet to be announced and has severe consequences for directors and managers of companies found to have participated in a cartel.
8 minute read

International Edition

CC and Latham set for lead roles on Dubai World restructuring

Clifford Chance (CC) and Latham & Watkins are among a number of law firms understood to be advising on the restructuring of Dubai World - the state-owned conglomerate responsible for some of the Middle East's most high- profile projects. The Dubai state yesterday (25 November) asked creditors of Dubai World for a six-month debt standstill on the company's liabilities in a move that caught credit markets by surprise.
2 minute read

International Edition

Dubai finance centre aims to boost court standards with conduct code

The Dubai International Finance Centre (DIFC) Courts has introduced a professional conduct code, in a bid to improve the professional standards of lawyers conducting litigation before the courts. The code, which is binding for all registered practitioners appearing before the English-language common law court, was introduced earlier this month (1 November) following a consultation carried out in June this year.
2 minute read

International Edition

Eversheds recruits five partners for international network

Eversheds International has made five new lateral partner hires, with the network bulking up in South Africa, the Netherlands and Switzerland. The firm's Johannesburg office has seen the bulk of the hires, with the addition of three new partners. Mondli Sibisi and Sibusiso Masondo have joined the resources and finance group from DLA Piper's South African ally Cliffe Dekker Hofmeyr and local firm Khumalo Masondo respectively.
2 minute read

International Edition

UK firms land roles on billion-dollar Abu Dhabi-Saudi motorway project

A raft of UK law firms have won roles as Abu Dhabi prepares for the largest-ever public private partnership project (PPP) in the UAE. Allen & Overy (A&O) is advising the Abu Dhabi Department of Transport, which is planning to build a motorway connecting Abu Dhabi with Saudi Arabia. Five bidders have been shortlisted to build the road from Mafraq to Ghweifat, with proposals for the estimated $2.65bn (£1.62bn) project to be submitted by 6 December.
2 minute read

International Edition

Herbert Smith strengthens Saudi office with transfer of TMT chief

Herbert Smith is boosting its Saudi offering with the relocation of the co-head of its technology media and telecoms (TMT) practice group from London to Riyadh. Christopher Rees is set to move to Riyadh in March next year and will be based with Herbert Smith's Saudi alliance firm Al-Ghazzawi Professional Association (GPA), which the top 10 City firm entered into an exclusive association with last year.
2 minute read

International Edition

Lovells and Shearman advise on landmark Syrian project finance deal

Lovells and Shearman & Sterling have taken the lead on a $682m (£415m) projects deal in Syria, believed to be the first project financing to close in the country. Construction company Lafarge, which is one of the world's largest cement suppliers, is to build a cement plant in northern Syria using project finance loans totalling $341m (£208m).
2 minute read

International Edition

Ashurst grows Abu Dhabi presence with corporate partner transfer

Ashurst has added a partner to its Abu Dhabi base with the relocation of City corporate specialist Nick Williamson. Williamson joined the top 10 UK firm's Middle East practice last month, becoming the third partner in Abu Dhabi alongside projects partner and office head David Wadham and real estate partner Matthew Hooton.
2 minute read

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