ADGM Courts: Not Open for Business as a Conduit Jurisdiction?
Offshore courts in the UAE have long been used as conduit jurisdictions, particularly by international parties seeking to enforce foreign arbitral awards. The Abu Dhabi Global Markets (“ADGM”) and Dubai International Financial Centre (“DIFC”) have signed Memoranda of Understanding (“MoU”) with onshore authorities, pursuant to which onshore Emirati courts agree to recognise and enforce ADGM/DIFC…