Recognition For Abu Dhabi's Courts In New MoU
by Lorys Charalambous, Lowtax.net, Cyprus
06 April, 2018
Abu Dhabi Global Market (ADGM), the low-tax financial hub, recently announced its courts will be able to enforce judgments, decisions, orders, and arbitral awards made or ratified by courts in the emirate.
This follows ADGM's signing of a memorandum of understanding with Abu Dhabi Judicial Department, the second to be signed between the parties since 2016. The memorandum allows for reciprocal enforcement of decisions, which means decisions made by ADGM courts can also be enforced in Abu Dhabi's courts.
ADGM said the new agreement is intended to enhance the competitive position of the emirate internationally, a key objective of the Government of Abu Dhabi, by adding to its repertoire of offshore services.
Chief Justice of ADGM Courts, Lord Hope, commented: "I am very grateful to Abu Dhabi Judicial Department for their ongoing support and collaboration with ADGM Courts. We remain committed to contributing to Abu Dhabi's vision of justice and equality, integrity and transparency, and innovation and excellence in judicial services. The partnership that has developed between ADGM Courts and Abu Dhabi Judicial Department is one of enduring mutual trust and respect. We very much look forward to achieving our further endeavours with Abu Dhabi Judicial Department for the benefit of the community and to strengthening the community's confidence in Abu Dhabi's judicial system."
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