Kobre & Kim Secured Landmark Victory For Creditors In UAE As Dubai Court Invalidated Pre-Judgment Share Transfer
International investigation and dispute resolution law firm Kobre & Kim has won a landmark victory for creditors in the
Kobre & Kim Secured Landmark Victory For Creditors In UAE As Dubai Court Invalidated Pre-Judgment Share Transfer
International investigation and dispute resolution law firm Kobre & Kim has won a landmark victory for creditors in the United Arab Emirates (UAE). The Dubai Court of Cassation delivered a definitive ruling overturning the transfer of shares by the debtors to a family member, despite the transfer occurring prior to the issuance of a final judgment confirming the debt owed to Kobre & Kim’s client.
This case is a component of Kobre & Kim's global strategy aimed at monetizing an English Judgment, recently acknowledged by the Dubai courts as one of the initial foreign judgments to be enforced onshore in the UAE under the new enforcement framework.
“This decision marks not just a win for our client but also another step forward in strengthening the enforceability of judgments in the UAE,” stated Paul Hughes, a lawyer based in Dubai at Kobre & Kim. “By obstructing debtors from transferring assets to circumvent a judgment, creditors in the UAE now possess greater avenues for recovery.”
The team from Kobre & Kim involved in this case comprises Paul Hughes, Nada Oteifi, and Michael Sanfilippo.