< Previous20 June 2025law-middleeast.com DEALS 7 The Abu Dhabi destination will be Disney’s seventh worldwide Cliff ord Chance is advising The Walt Disney Company on its partnership with Miral for the development and operation of a new Disney theme park resort on Yas Island in Abu Dhabi. It will be Disney’s fi rst theme park resort in the Middle East and its seventh worldwide. It will also be Disney’s fi rst new resort in nearly a decade. UAE-based Miral, which has developed a number of entertainment destinations on Yas Island, including Ferrari World, Warner Bros. World, and SeaWorld, is understood to be receiving legal advice from Akin, who declined to comment. Miral will develop and operate the new resort, while Disney will supply imagineers who provide creative design and operational oversight, according to a statement. Disney is licensing its intellectual property (IP) to Miral, and will earn royalties based on the project’s revenues as well as service fees. Cliff ord Chance’s team is being led by real estate and hospitality partner Tariq Imam and corporate partner Lynn Ammar, who are based in the UAE. They are supported by Cliff ord Chance lawyers specialising in antitrust, construction, corporate, dispute resolution, IP, and real estate across the UK and the UAE. Imam said: “It is an enormous honour and privilege for Clifford Chance to represent Disney on such a landmark and historic transaction. Disney theme park resorts are unique, once-in-a-generation projects, so we are grateful to the talented and dedicated team at Disney for placing their trust in our fi rm.” Ammar added: “For over a century, Disney’s enchanting stories have captivated audiences worldwide, mesmerising children and adults alike. We are delighted to help bring Disney’s timeless magic to the Middle East, right here in Abu Dhabi, the crown jewel of regional attractions.” CLIFFORD CHANCE HELPS BRING DISNEY’S MAGIC TO MIDDLE EAST WITH LEADING ROLE IN NEW ABU DHABI THEME PARK RESORT Disney is licensing its IP to UAE-based Miral, who will develop and operate the new destination in Yas Island's entertainment district LME_Jun2025_20-21_Deals_13627929.indd 20LME_Jun2025_20-21_Deals_13627929.indd 2009/06/2025 17:5609/06/2025 17:56June 2025 21law-middleeast.com DEALS UCIC’S $160 MILLION IPO STAT Law Firm and Gibson Dunn have advised parties in relation to United Carton Industries Company (UCIC)’s IPO on the main market of the Saudi Exchange. STAT represented UCIC, a carton and paper packaging company in Saudi Arabia, while Gibson Dunn advised Al Rajhi Capital Company in its capacity as sole fi nancial advisor, lead manager, bookrunner, and underwriter. The Gibson Dunn team was led by partner Ibrahim Soumrany. UCIC sold 12 million shares, which represented 30% of its total issued share capital. The IPO was 126 times oversubscribed and raised gross proceeds of approximately SAR 600 million (US$160 million). Saudi Arabia continues to dominate the GCC's capital markets, raising $4.1 billion through 42 listings in 2024, the highest number in the region. COINBASE’S $2.9 BILLION ACQUISITION OF DERIBIT Latham & Watkins and Willkie Farr & Gallagher are advising on US digital currency platform Coinbase’s acquisition of Dubai-headquartered cryptocurrency derivatives exchange Deribit. The acquisition is valued at around $2.9 billion. The transaction includes $700 million in cash and 11 million shares of Coinbase Class A common stock. It is expected to close in 2025. Latham & Watkins advised Coinbase with a 19-partner team led by San Francisco and Silicon Valley partners Saad Khanani and Tad Freese. Riyadh-based partner Brian Meenagh handled UAE-related matters. Willkie advised Deribit with a team led by New York partners Jared Fertman and Thomas Sharkey. TWG GLOBAL ACQUIRES STAKE IN MUBADALA CAPITAL Investment fi rm TWG Global is acquiring a 5% minority stake in Mubadala Capital, the asset management arm of Mubadala Investment Company, with the option to increase its share over time. Skadden is advising Mubadala Capital. As part of the deal, TWG will commit $2.5 billion to Mubadala Capital, which will also lead to a $10 billion syndicated investment in TWG. The Skadden team was led by partners Todd Freed, Michelle Gasaway, Victor Hollender, Michael Leiter, and Patrick Lewis. OTHER DEALS... DUBAI RESIDENTIAL REIT’S $584 MILLION IPO Linklaters, Cliff ord Chance, and Ibrahim & Partners have advised parties in relation to the IPO of Dubai Residential REIT on the DFM. It is the fi rst REIT to be established in accordance with the UAE’s new 2023 REIT regime and the fi rst IPO on the DFM in 2025. The off ering comprised 1.95 billion units, representing 15% of Dubai Residential REIT’s issued unit capital, off ered by DHAM Investments, a subsidiary of Dubai Holding. Linklater s ad v ised Dubai Holding, with Ibrahim & Partners providing advice on aspects relating to UAE law. Cliff ord Chance advised the underwriters. The off ering raised AED 2.1 billion (US$584 million) to become the region’s largest listed REIT to date. The Linklaters team was led by Middle East managing partner Scott Campbell, global chair of equities Jason Manketo, and Dubai corporate partner Patrick Sutton-Mattocks. Ibrahim & Partners managing partner Ahmed Ibrahim, meanwhile, led on the transaction for the fi rm. The Cliff ord Chance team advising the underwriters was led by Dubai partner Omar Rashid, with support from London partners Christopher Roe and Drew Rundus. The listing is expected to trigger a new wave of institutional interest in IPOs in general and the REIT sector in particular, and pave the way for future off erings. LME_Jun2025_20-21_Deals_13627929.indd 21LME_Jun2025_20-21_Deals_13627929.indd 2113/06/2025 09:0113/06/2025 09:0122 June 2025law-middleeast.com DEALS Upcoming events and key dates for your diary LEGAL CALENDAR JUNE 2-6 | LONDON London International Disputes Week 2025 Returning for a sixth year, London International Disputes Week (LIDW) is one of the world’s largest gatherings for those involved in the resolution of international disputes. Under the theme ‘Innovation in dispute resolution: navigating global risks’, LIDW 2025 will feature over 150 scheduled events throughout the week, including a main conference, an opening reception, and a gala dinner. The week-long event aims to bring together dispute resolution professionals from London and around the world to explore and debate key issues impacting the sector. JUNE 11 | ABU DHABI FSRA Policy & Legal: Legislative Update Session During a morning discussion, Abu Dhabi Global Market (ADGM)'s Financial Services Regulatory Authority (FSRA)’s policy and legal division will provide a legislative update on projects conducted over the past year, as well as its current and future projects. FSRA professionals will also provide an update on the authority’s recently published regulations, consultation papers, and key areas of focus for the coming year. It will take place in the ADGM Authorities Building on Al Maryah Island. JUNE 24 | DUBAI Women in Law Forum 2025, powered by Law Middle East Law Middle East’s inaugural event will gather the most infl uential women in the legal industry to discuss their growing role in shaping the future of law across the region. This high-impact morning for a select group of professionals will prioritise real conversations, fostering connection and collaboration. During panel discussions, hosted by Law Middle East editor Aishah Hussain, top female lawyers from across private practice and in-house will share how they made it, any challenges they faced, and the lessons they learnt along the way. Expect honest dialogue, practical takeaways, and a sense of shared purpose. JUNE 27 | ONLINE The UAE’s Personal Data Protection Law—Be prepared This hour-long webinar, hosted by Squire Patton Boggs, will discuss the recent reform and impact of data protection and cybersecurity laws in the UAE, including the new Personal Data Protection Law (PDPL). Habib Saeed, a senior associate and data privacy and cybersecurity specialist in the fi rm’s Dubai offi ce, will provide insights into the practical implementation of data requirements and the regulatory implications for UAE-based entities. This session is designed for HR professionals and in-house counsel. 22 June 2025law-middleeast.com CALENDAR LME_Jun2025_22_June calendar_13632344.indd 22LME_Jun2025_22_June calendar_13632344.indd 2213/06/2025 09:0113/06/2025 09:01March 2025 23law-middleeast.com INTERVIEW ATTENDANCE IS LIMITED. SCAN TO SECURE YOUR PLACE Join us at the Women in Law Forum—a powerful morning of insight, inspiration, and connection. This exclusive event brings together leading voices from across the legal world to explore the evolving role of women in shaping the future of law in the Middle East. From boardrooms to courtrooms, women are leading change—and this is the space where those stories are shared, challenges are unpacked, and new ideas are born. Designed as a high-impact morning for a select group of professionals, this event off ers an intimate and focused environment that prioritises real conversations over corporate presentations. Across curated panels, we will dive into leadership journeys, explore what it means to break the mould in today’s legal landscape, and refl ect on how mentorship and allyship can create lasting change. Expect honest dialogue, practical takeaways, and a sense of shared purpose. Whether you are navigating the path to partnership, building in-house legal strategy, or mentoring the next generation, this event off ers the insights and connections that matter. If you are a partner, associate, general counsel or rising star—this is where conversations start, ideas are exchanged, and momentum is built. SPONSORSHIP David Bentley Senior Commercial Manager Law Middle East david.bentley@itp.com EDITORIAL Aishah Hussain Editor Law Middle East aishah.hussain@itp.com CONTACT US TUESDAY JUNE 24, 2025 VOCO DUBAI BY IHG, ORIGAMI BALLROOM LME_Jun2025_23_Women in LAW_13627104.indd 23LME_Jun2025_23_Women in LAW_13627104.indd 2313/06/2025 09:0213/06/2025 09:0224 June 2025law-middleeast.com ANALYSIS In recent years, the Kingdom of Saudi Arabia (KSA) has emerged as a centre for economic and legal transformation, headed by its Vision 2030 strategy and its commitment to reduce its reliance on oil and become a major global investment destination. Amid these changes, the KSA Bankruptcy Law was introduced in 2018 to provide guidance regarding the adoption and implementation of bankruptcy proceedings. The key aim of this law is to rescue insolvent businesses through reorganisation and fi nancial restructuring. The landscape of insolvency resolution is undergoing an evolution, marked by the adoption of alternative approaches such as alternative dispute resolution (ADR), mediation, and hybrid mechanisms. In 2023, KSA issued a draft Mediation Law considering many of the practice features adopted by the UAE and Qatar. A key point of the draft law requires mediation proceedings to be kept confi dential. These methods have the potential of changing how creditor-debtor disputes are resolved—off ering effi ciency, fl exibility, and cost-eff ectiveness. Let us take a deeper dive into these methods and discover the reasons why leveraging these can be benefi cial in not only resolving disputes but also providing opportunities for growth. STREAMLINING CREDITOR-DEBTOR NEGOTIATIONS The appeal of ADR is the ability to foster direct negotiations between creditors and debtors. By side-stepping the complex nature of traditional litigation, these mechanisms create a collaborative environment in which parties can explore mutually benefi cial solutions. Notably, mediation enables skilled mediators to guide negotiations, while ensuring open communication and balanced outcomes as demonstrated in the US over the past four years. By Julian Haslam- Jones Senior director at Alvarez & Marsal By Rehan Arshad Senior director at Alvarez & Marsal SAUDI ARABIA AND A NEW STANDARD IN INSOLVENCY RESOLUTION From ADR to mediation, the landscape of insolvency resolution is undergoing an evolution, and KSA is uniquely positioned to lead the trend LME_Jun2025_24-25_Analysis - insolvency_13627159.indd 24LME_Jun2025_24-25_Analysis - insolvency_13627159.indd 2404/06/2025 16:5804/06/2025 16:58June 2025 25law-middleeast.com ANALYSIS to address the specifi c needs of the parties involved. Hybrid mechanisms, which combine mediation with arbitration, off er the best of both worlds by facilitating consensus while ensuring enforceability. This adaptability is crucial in an era of rapid economic changes, where businesses require solutions that not only resolve disputes but also preserve ongoing relationships. For debtors seeking restructuring options and creditors aiming to recover value, ADR can provide a win- win framework. REGIONAL TRENDS AND PRACTICAL APPLICATIONS KSA, with its Vision 2030 reforms, is uniquely positioned to lead the trend of utilising ADR in insolvency. Recent updates to Saudi Arabia's Insolvency Law emphasise the importance of negotiated solutions, paving the way for wider use of ADR mechanisms. Practically, ADR has shown promise in resolving high-stakes disputes involving multinational corporations, fi nancial institutions, and family- owned businesses. Training mediators with specialised expertise in insolvency and ensuring the enforceability of ADR outcomes will be critical to unlocking its full potential. LOOKING AHEAD As Saudi Arabia continues its economic transformation, embracing ADR and other innovative dispute resolution mechanisms will be vital to building a robust insolvency framework. One of the key challenges is educating the stakeholders involved in the insolvency process about the benefi ts of ADR. Further, mediation in particular is helping to achieve creditor co-ordination and consensus in cross-border settings in other parts of the world, which is of particular relevance given KSA’s ambition to encourage overseas investment. These approaches not only align with global best practices but also resonate with KSA’s vision of fostering a business-friendly environment. By leveraging ADR to resolve complex disputes, KSA can set a new standard for effi ciency, collaboration, and resilience in insolvency resolution. The time to act is now, as doing so will lay the groundwork for a future where disputes are not just resolved but transformed into opportunities for growth. By prioritising dialogue over dispute, ADR off ers a pragmatic path forward— minimising contention and maximising recovery for all stakeholders This approach is especially valuable in complex insolvency cases, where prolonged court battles can erode value and strain resources. By prioritising dialogue over dispute, ADR off ers a pragmatic path forward—minimising contention and maximising recovery for all stakeholders. MINIMISING COURT INTERVENTION Traditional insolvency proceedings are often time-consuming and have mounting legal expenses. ADR can provide a streamlined alternative, signifi cantly reducing the need for court intervention. While judicial oversight remains essential to ensure fairness and enforceability, ADR can allow parties to resolve disputes more swiftly, freeing up judicial resources for cases that truly require formal adjudication. In KSA, where the judiciary is undergoing transformation, ADR aligns with broader eff orts to enhance effi ciency and responsiveness within the legal system. By leveraging these methods, KSA can position itself as a leader in innovative dispute resolution practices. EXPEDITING FLEXIBLE AND BINDING SOLUTIONS One of ADR’s key strengths lies in its ability to deliver tailored solutions that are both fl exible and binding. Unlike rigid court judgments, ADR outcomes can be customised LME_Jun2025_24-25_Analysis - insolvency_13627159.indd 25LME_Jun2025_24-25_Analysis - insolvency_13627159.indd 2504/06/2025 16:5804/06/2025 16:5826 June 2025law-middleeast.com COVER STORY Karim Youssef, founding partner of Youssef + Partners, shares how his passion for arbitration and drive to transform Cairo’s legal market inspired him to build one of the MENA region’s most formidable arbitration practices THE ARBITRATION MAN By Aishah Hussain Photography by Ajith Narendra LME_Jun2025_26-33_Cover story_13630154.indd 26LME_Jun2025_26-33_Cover story_13630154.indd 2612/06/2025 13:1012/06/2025 13:10June 2025 27law-middleeast.com PARTNER CONTENT LME_Jun2025_26-33_Cover story_13630154.indd 27LME_Jun2025_26-33_Cover story_13630154.indd 2712/06/2025 13:1012/06/2025 13:1028 June 2025law-middleeast.com COVER STORY For most, a legal career unfolds through a predictable path—law school, followed by a gradual search for one’s specialty. But for Karim Abou Youssef (known as Karim Youssef), founding partner of Youssef + Partners, Cairo’s premier arbitration fi rm and a leading regional player, his calling was almost preordained. “I went to law school in order to do arbitration, usually it is the other way around,” he tells me when we speak. A FORMATIVE EDUCATION AND EARLY CAREER Born in Egypt in the late seventies, Youssef hails from a distinguished lineage of judges. His father served as a career judge and the vice president of Egypt’s Council of State, while his late grandfather, Justice Farouk Seif El Nasr—commonly venerated as the bench’s elder statesman or the “dean of the judges”—was a revered fi gure who headed Egypt’s Supreme Constitutional Court (SCC) before serving as Minister of Justice of Egypt for more than 17 years, between 1987 until 2004. It was in his grandfather’s library, at age 16, that Youssef discovered a book titled The Foundations of Law by Abd El-Razzak El-Sanhuri—a moment that would shape his destiny. Captivated, he read through the night into the early hours of the morning, igniting a lifelong passion for the law. Just two weeks before he was set to begin medical studies in Strasbourg, France, Youssef’s newfound calling changed everything. He embarked on a dual legal education, simultaneously enrolling in Cairo University’s newly established English law department in 1994—where he was classmates with Law Middle East April cover star Ibrahim Ahmed—and Paris 1 Panthéon-Sorbonne University for a French law degree. “The process was gruelling—I worked through winters and summers, pretty much non-stop," he refl ects. "But in the end, I earned two law degrees in four years." "I recall the dean of my law school at the time, Samir El Sharkawy, a timeless fi gure of commercial law and international arbitration in Egypt, telling me that the only other person who earned two law degrees at the same time was Egypt’s historic fi gure Mostafa Kamel nearly a century earlier,” he adds. Youssef’s academic pursuits continued with two master’s degrees—one from the Sorbonne and another from Yale University. Build a team so strong it is impossible to know who the boss is. The team should work as a fighting unit LME_Jun2025_26-33_Cover story_13630154.indd 28LME_Jun2025_26-33_Cover story_13630154.indd 2813/06/2025 09:0613/06/2025 09:06June 2025 29law-middleeast.com PARTNER CONTENT “It triggered very deep changes in the legal fi eld,” Youssef explains, resulting in a “complete and irreversible shift in how arbitration is practised, the volume and scale of cases, and the very fabric of the arbitration community itself”. Suddenly, ‘arbitration’ was making headlines and entering popular discourse, as the region witnessed an unprecedented surge in high- profi le cases. “The decade of the Arab Spring marked the moment when ‘arbitration’ became a buzzword in Egypt and across the Arab world,” he adds. This momentum only intensifi ed in the wake of the Covid-19 pandemic, catapulting cities like Cairo, Riyadh, Abu Dhabi, and Dubai onto the global stage as premier arbitration hubs. In the past two years, the growth of arbitration in the Middle East and North Africa (MENA) region has accelerated at an unprecedented pace. New institutions such as the SCCA in Riyadh have witnessed “explosive growth”, while rejuvenated centres like DIAC and ADGM in Dubai and Abu Dhabi are increasingly recognised by leading practitioners as “world-class”, according to Youssef. In 2024, Cairo’s CRCICA introduced new rules, reaffi rming its pivotal role amid intensifying regional competition. Meanwhile, Bahrain has Inside Youssef + Partners' Cairo offi ce and headquarters In 2007, he became the fi rst person from Egypt, and the Arab world, to receive a JSD (Doctorate in the Science of Law) from Yale University. He was mentored by the legendary international law scholar Michael Reisman, and he later authored a book on complex and multi-party arbitrations prefaced by Jan Paulsson “who is the Diego Maradona of the fi eld”, Youssef enthuses, referencing the iconic footballer. He began his legal practice that same year, starting with a formative stint at Cleary Gottlieb in Paris. There, he worked, among others, on landmark investment treaty cases, including the Argentina bondholder disputes following the 2002 pesos crisis and the largest ever international arbitration (Yukos v the Russian Federation). In 2010, he returned to Egypt—just months before the Arab Spring erupted—poised to play a pivotal role in shaping the future of arbitration across the region. A ‘BOOM TIME’ FOR MIDDLE EAST ARBITRATION The Arab Spring, perhaps unexpectedly, acted as a powerful catalyst for the transformation of international arbitration across the Middle East. 2016 The year Youssef + Partners was founded in Cairo LME_Jun2025_26-33_Cover story_13630154.indd 29LME_Jun2025_26-33_Cover story_13630154.indd 2913/06/2025 09:0613/06/2025 09:06Next >