ABU DAHBI // Four judges recently received training in Washington on financial restructuring and bankruptcy laws by the US Chamber of Commerce.
The joint initiative by the Ministry of Justice and Dubai Economic Council (DEC) was aimed at improving business regulations and laws in the UAE.
“It is all about developing the regulatory and legal framework of the UAE and aligning the global best practices,” said Hani Al Hamli, the DEC secretary general.
“Especially in the field of financial restructuring and bankruptcy and their applicability in the UAE, taking into account the particularities of the local economic, social and legal environment.”
The initiative started on the sidelines of DEC’s global policy conference in May last year, when the Ministry of Justice and the US Chamber of Commerce’s commercial law development programme decided to create a strategic partnership and offer training programmes to UAE legal officials.
The judges hailed the experience, describing it as very beneficial.
“The programme was very useful since I encountered new information and ideas. It covered most of the important legal issues in the UAE,” said one of the judges.
The judges said they specifically benefited from sessions that covered issues of competition, intellectual property rights and bankruptcy, as well as from meetings with US judges.
“The US is a very advanced country in the areas of lawmaking and commerce, while the UAE is still drafting many of its commercial laws for the first time,” said the judge.
“This is a great opportunity for the UAE to learn from the American experience.”
The judges who visited Washington – Mohamed Hassan Marzouqi, Hossam Hassan Alyammahi, Waleid Khameis Alantali and Khalid Saif Alalili – were selected by the Ministry of Justice.