The fall out from the collapse of Enron may have dominated the legal headlines, but lawyers across the world have been grappling with plenty of other challenges this year. We asked lawyers from five jurisdictions what they will remember 2002 for.
Peter Michelmore, Richards Butler’s Abu Dhabi-based Middle East managing partner, cites new money laundering regulations and the proposed regulatory framework for the Dubai International Financial Centre (DIFC) as two key developments. The DIFC aims to make Dubai a global hub for institutional finance and investment and will have its own court system. “The proposed regulatory framework for the DIFC has attracted much interest as it contemplates, among other things, a court system, a companies law and a trust law operating outside the existing federal and Emiri systems,” he says.
