Dubai Establishes Committee for Dispute Settlement of Family Businesses and Ownership

Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance, has announced the establishment of the “Committee for Dispute Settlement of Family Businesses and Ownership.” This committee is dedicated to ensuring the ongoing prosperity and stability of family-owned businesses, recognizing their vital role in Dubai’s economy.

The committee will handle and resolve disputes related to family-owned businesses, such as succession planning and ownership transitions.

To effectively address these multifaceted disputes, the committee is granted the authority to take both preventive and urgent measures. Preventive measures could include offering mediation services, financial counseling, and expert advice. Urgent measures, on the other hand, are meant to address more pressing issues, such as legal injunctions or temporary operational changes.

The committee will comprise financial experts working alongside judges to provide specialized judicial expertise. This approach aims to ensure that both financial and legal aspects of disputes are comprehensively addressed, fostering a fair and efficient resolution process.