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Abu Dhabi Family Business Council Welcomes The Formation Of Family Business Dispute Resolution Committees In The Emirate |
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The establishment of dispute resolution committees marks a key step in supporting family businesses and enhancing their stability and sustainabilityThe Abu Dhabi Family Business Council, under the Abu Dhabi Chamber of Commerce and Industry, welcomed the decision by H.H. Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, to establish committees for resolving family business disputes in the Emirate. The Council noted that this step strengthens the legislative framework supporting the stability and continuity of family businesses. The Council stated that the formation of these committees comes at a critical time, given the growing role of family businesses in supporting the national economy. It will provide effective and efficient mechanisms to address disputes, ensuring business continuity, preserving cohesion within family businesses, and enhancing investor confidence and the overall business environment in Abu Dhabi. H.E. Khaled Abdul Karim Al Fahim, Chairman of the Abu Dhabi Family Business Council, said: He added: The Council affirmed that this step will further enhance Abu Dhabi’s business environment, reinforcing governance and sustainability principles in line with the Emirate’s vision for a diversified and competitive economy. The committees will review disputes related to incorporation agreements, management, or ownership of family businesses headquartered in Abu Dhabi, whether between partners, family members, or third parties. They will also consider appeals against decisions issued by family councils in accordance with applicable legal frameworks. The decision grants the committees broad authority to take preventive and urgent measures to ensure business continuity and protect companies’ reputation and financial standing. They may also seek specialised technical and legal expertise depending on the nature of each dispute. It also prioritises amicable settlement through dispute resolution centres. Where this is not possible, the committees will issue binding decisions, subject to appeal, while ensuring the confidentiality of all case-related information. The Abu Dhabi Family Business Council reaffirmed its commitment to supporting and empowering family businesses, strengthening their contribution to Abu Dhabi’s economic growth and reinforcing the Emirate’s position as a global business hub. |
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