Two courts to co-operate over judgments



DUBAI // The Dubai International Financial Centre (DIFC) Courts and the Dubai Courts yesterday signed a co-operation agreement that would allow them to enforce each other's judgments. The terms of the new protocol require both the DIFC Courts and the Dubai Courts to assign one of their judges to enforce the judgments and arbitral awards wherever applicable. The agreement, which comes into force on May 1, helps resolve a major issue facing both of the benches as each increasingly encroaches on the jurisdiction of the other.

The co-operation agreement was signed on behalf of the DIFC Courts by the Chief Justice, Sir Anthony Evans, and on behalf of the Dubai Courts by the Director General, Dr Ahmad bin Hazeem. The text of the protocol will be available in both Arabic and English on the websites of both institutions. "The protocol of enforcement is a positive move for the judicial system in Dubai", said Justice Evans. "Both the DIFC and the Dubai Courts are pillars of the UAE legal system and both authorities welcome any move to formalise our working relationship," Justice Evans said yesterday after the signing.

"This latest collaborative step will further increase the efficiency of both justice systems for users of the DIFC and Dubai Courts," he added. In an earlier interview, Justice Evans said the DIFC Courts aim to improve co-operation with the other courts in the UAE on matters of enforcement to ensure the decisions of the DIFC Courts are enforced within the jurisdictions of other emirates. "Enforcement requires co-operation," Justice Evans said in January.

"We want to evolve as a common law court alongside the local civil courts. It would be of mutual benefit if we can make common law procedures operate in harmony with local civil law courts." The UAE's courts are based on the Franco/Egyptian legal model, but the DIFC Courts follow English common law. The DIFC Courts also do not hear criminal cases. The DIFC Courts operate out of a fixed premises with eight judges hearing civil and commercial cases.

The courts can hold urgent hearings by video link with judges if none is available in person. There are also two Emirati judges at the DIFC Courts who hear urgent cases at the Small Claims Tribunal. The remaining six judges, while not permanently based in the UAE, can fly in within 48 hours' notice. All six judges come from common law countries, three of them from the UK. The Small Claims Tribunal at the DIFC Courts hears cases concerning sums under Dh100,000 (US$27,000).

Last year the tribunal heard 56 cases, the vast majority of them involving employment disputes. The DIFC Courts also follow their own insolvency or bankruptcy law and may appoint liquidators. While the DIFC Courts do not plan any other formal agreements with other courts in the country, they have co-operated closely with all of them, especially those in Abu Dhabi. Dr bin Hazeem said that the signing of the protocol signifies a new chapter in judicial co-operation between the two courts.

"This will lead to effectively maintaining a strong judicial system in Dubai and strengthen the enforcement of judgements and orders issued by the two courts, and also the arbitration agreements ratified by these courts." hbathish@thenational.ae

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Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

Ukraine exports

President Volodymyr Zelenskyy has overseen grain being loaded for export onto a Turkish ship following a deal with Russia brokered by the UN and Turkey.
"The first vessel, the first ship is being loaded since the beginning of the war. This is a Turkish vessel," Zelensky said, adding exports could start in "the coming days" under the plan aimed at getting millions of tonnes of Ukrainian grain stranded by Russia's naval blockade to world markets.
"Our side is fully prepared," he said. "We sent all the signals to our partners -- the UN and Turkey, and our military guarantees the security situation."

Russia's Muslim Heartlands

Dominic Rubin, Oxford

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

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Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5

Ammar 808:
Maghreb United

Sofyann Ben Youssef
Glitterbeat 

RACE RESULTS

1. Valtteri Bottas (FIN/Mercedes) 1hr 21min 48.527sec
2. Sebastian Vettel (GER/Ferrari) at 0.658sec
3. Daniel Ricciardo (AUS/Red Bull) 6.012
4. Lewis Hamilton (GBR/Mercedes) 7.430
5. Kimi Räikkönen (FIN/Ferrari) 20.370
6. Romain Grosjean (FRA/Haas) 1:13.160
7. Sergio Pérez (MEX/Force India) 1 lap
8. Esteban Ocon (FRA/Force India) 1 lap
9. Felipe Massa (BRA/Williams) 1 lap
10. Lance Stroll (CAN/Williams) 1 lap
11. Jolyon Palmer (GBR/Renault) 1 lap
12. Stoffel Vandoorne (BEL/McLaren) 1 lap
13. Nico Hülkenberg (GER/Renault) 1 lap
14. Pascal Wehrlein (GER/Sauber) 1 lap
15. Marcus Ericsson (SWE/Sauber) 2 laps
16. Daniil Kvyat (RUS/Toro Rosso) 3 laps

RESULTS

5pm: Maiden (PA) Dh80,000 1,400m
Winner: JAP Almahfuz, Fernando Jara (jockey), Irfan Ellahi (trainer).

5.30pm: Handicap (PA) Dh90,000 1,400m​​​​​​​
Winner: AF Momtaz, Antonio Fresu, Musabah Al Muhairi.

6pm: Handicap (TB) Dh100,000 1,400m​​​​​​​
Winner: Yaalail, Fernando Jara, Ali Rashid Al Raihe.

6.30pm: Abu Dhabi Championship Listed (PA) Dh180,000 1,600m​​​​​​​
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami.

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m​​​​​​​
Winner: Dahess D’Arabie, Fernando Jara, Helal Al Alawi.

7.30pm: Maiden (PA) Dh80,000 2.200m
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Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

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Sector: Automotive
Funding: Carzaty raised $6m in equity and $4m in debt; Kavak plans $130m investment in the GCC

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Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Try out the test yourself

Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer

Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer

Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer

The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania. 

Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).

The years Ramadan fell in May

1987

1954

1921

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Date started: Okadoc, 2018

Founder/CEO: Fodhil Benturquia

Based: Dubai, UAE

Sector: Healthcare

Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth

Funding stage: Series B fundraising round to conclude in February

Investors: Undisclosed

A Cat, A Man, and Two Women
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Translated by Paul McCarthy
Daunt Books 

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1) More than 300 in-house cleaning crew

2) 165 staff assigned to sanitise public areas throughout the show

3) 1,000+ social distancing stickers

4) 809 hand sanitiser dispensers placed throughout the venue

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Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

How does ToTok work?

The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

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Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

MATCH INFO

Uefa Champioons League semi-final, first leg:

Liverpool 5
Salah (35', 45+1'), Mane (56'), Firmino (61', 68')

Roma 2
Dzeko (81'), Perotti (85' pen)

Second leg: May 2, Stadio Olimpico, Rome

MATCH INFO

Rugby World Cup (all times UAE)

Third-place play-off: New Zealand v Wales, Friday, 1pm


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