The COVID-19 pandemic and the concomitant drop in oil prices, have significantly affected the global economy. The United Arab Emirates, whose phenomenal growth over the past 20 years has been driven by the development of a tourism destination, a financial hub and endless construction projects and was, in part, funded by oil revenues is obviously no exception. In this article, we will briefly discuss how UAE law may provide potential solutions to contractual parties suffering from the effect of the global pandemic and economic crisis.
Continue reading on MayerBrown.com.
If you wish to receive periodic updates on this or other topics related to the pandemic, you can be added to our COVID-19 “Special Interest” mailing list by subscribing here. For any other legal questions related to this pandemic, please contact the Firm’s COVID-19 Core Response Team at [email protected].