The Counsel

by Dr. Shahid Jamil
Associate, Michelmores LLP, UK
" Pakistani experience has given me a sense of the entrepreneur that isn't bound by precedent or by market convention...."

The legal practice in a large London firm is starkly different from that of Pakistan. While practicing in Pakistan I was more of a "general practitioner" with the concept that specialisations were split between criminal and civil practices and corporate law was the "chamber practice" that many law firms engaged in addition to their civil litigation practice. With notable exceptions, most firms in Pakistan organise themselves in the same manner. Lawyers are generally ready to take on any case or matter that comes their way, ranging from family and property disputes to e-commerce or commercial matters. Counsel's general aim with each client being to meet their needs on any issue, regardless of whether it be on topics as different as tax or human resource; thus becoming a trusted advisor for their clients.

In contrast, the scale and sophistication that is offered by the London market forces lawyers to specialise in every aspect of legal work. Clients themselves are highly specialised and so lawyers are forced to also be equally specialised. And specialisations abound, with, for example, derivatives lawyers, general banking lawyers and project finance lawyers all inhabiting the same "finance" space but fulfilling completely different roles and dealing with radically different people working at the same client. The same is true for litigation (though not to the same level of differentiation). Read more here...

by Mamoon Khan
Senior Associate, Al-Tamimi & Co., Dubai
It is reported that Pakistani residents have invested approximately $6 billion in Dubai, mostly
in the real estate market. Consequently, any legislation which seeks to regulate or make
changes to the existing legal framework governing the relationship between the regulator,
developer and the investor inter se, is likely to have an impact on the financial health of
Pakistani investors. This from our Dubai correspondent seeks to inform the readers of such
current developments

United Arab Emirates – Dubai decrees Regulations for
protection of real estate investors

In a much awaited step towards regulating the real estate industry in the Emirate of Dubai, a decree has recently been passed known as the Executive Council Resolution No. 6 of 2010 (“Resolution”) concerning the Regulation of the Interim Real Estate Register in the Emirate of Dubai. The Resolution came into force on February 14, 2010.  The Resolution contains the much-anticipated regulations relating to Law No. 13 of 2008 (the “Law”) which, amongst other things, introduced the Interim Real Estate Register (“Interim Register”) to Dubai allowing developers and purchasers to register their off plan real estate units in the Interim Register.

The Resolution expands upon some aspects of the Law, stating that it is sufficient for a developer to apply to register a unit (rather than complete such registration) within the time limit specified in the Law, in order to have complied with the Law.  If a developer does not apply within the specified time limit, the Department of Land and Properties (“Lands Department”) will still allow registration out of time but impose a penalty on the developer of AED 10,000. Read more here...