Royal Decree ratifying the Sultanate's joining the United Nations Convention against Corruption
In the attempt to prevent and eradicate corruption in the Sultanate of Oman, his Majesty the Sultan Qaboos bin Said has recently issued Royal Decree 64/2013 ratifying the Sultanate in joining the United Nations Convention Against Corruption (the “UNCAC”).
Tuesday, February 25, 2014
Legal Updates - February 25, 2014
Tuesday, February 18, 2014
A Brief Overview of the Electronic Transactions Law in Oman
As a direct result of Oman’s enlarged presence in the global economy, it became essential for Oman to develop a reliable and controlled medium for transactions to be carried out through electronic means. Accordingly, in 2008, the legislature in Oman passed the Electronic Transactions Law (the “Law”), promulgated by Royal Decree 69/2008.
Wednesday, February 12, 2014
Non-Compete Clauses Under the Oman Civil Code
In today’s environment, we very often come across employment contracts with non-compete clauses as a mechanism to protect an employer’s business interests from unfair exploitation by former employees. Whilst non-compete covenants are acceptable in most Western jurisdictions, they have historically been regarded less enthusiastically by the Omani Courts and have not always been upheld.
Friday, February 7, 2014
Enforcement of Foreign Awards and Judgments in the Sultanate of Oman
As a matter of policy, the Omani government constantly aspires to develop and maintain strong relations with other countries, and such is reflected in its foreign policies. Accordingly, Oman has adopted several mechanisms for the enforceability in Oman of foreign court judgments (which are final and non-appealable) and arbitral awards.
Monday, February 3, 2014
Legal Updates - February 3, 2014
RD 60/2013: Amending some provisions of Tender Law
Royal Decree No. 60/2013 issued and effective from 31 October 2013 amends certain provisions of the Tender Law. We are in the process of analysing the amendments and shall give a detailed update next month.
Wednesday, January 29, 2014
Construction Disputes in Oman - Here and Now
On 12 November 2013, Curtis, Mallet-Prevost, Colt & Mosle LLP was invited to speak at the Chartered Institute of Building Masterclass on Delay, Dispute Resolution, and Management of Construction Contracts held in association with Hill International.
The following are some of the areas which were covered by Curtis in its presentation to the delegates.
Friday, January 17, 2014
Amendments to Sector Law
Amendments to the Law for the Regulation and Privatisation of the Electricity and Related Water Sector (the “Sector Law”) promulgated by Royal Decree No. 78/04 as amended.
Wednesday, January 8, 2014
Investment Funds
Investment funds have become increasingly popular investment structures in Oman, with several funds becoming active in the market recently. These investment funds may be formed and organized either in Oman or outside of Oman. For an investment fund established outside of Oman targeting investors located in Oman, such fund must comply with the Oman Capital Market Law (Royal Decree No. 80/98) and other applicable laws. Investment funds established in Oman must also comply with the Oman Capital Market Law and regulations issued by the Capital Market Authority (the “CMA”). In this article we focus on the key formation and establishment considerations for investment funds to be established in Oman.
Thursday, January 2, 2014
GCC Family Businesses - Corporate Governance
Some of the most successful companies worldwide remain family businesses - for example, Walmart, Ford, Cargill and Bombardier in North America, Peugeot, IKEA and LVMH in Europe and Tata, Samsung and Toyota in Asia. The most successful family firms are built and sustained across generations. Many of the Western family businesses have instituted corporate governance structures that continue to have the active involvement of members of the original founding family.
Monday, December 23, 2013
Contractors' Warranty Period
Contractors beware! The recently enacted Civil Code has an impact on the contractor’s obligations under Engineering, Procurement and Construction (EPC) contracts. The Civil Code, which took effect on August 6th 2013, imposes a statutory warranty period that applies to all Muqawala Contracts (Contracts to build).
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