Fares Abdullah

Legacy: Putting the Family First

This comprehensive guide is designed to help you navigate the intricate landscape of family business and private wealth in the Middle East, where family businesses constitute approximately 60% of GDP and employ 80% of the workforce in the GCC, offering unparalleled opportunities for wealth creation and preservation.

Packed with insights, strategies, and expert advice from our talented lawyers, Legacy provides tailored solutions to the unique challenges of asset protection, succession planning, and dispute resolution in this dynamic region.Read the publication and equip yourself with the knowledge and tools necessary to thrive, whether you’re a seasoned investor, a family business owner, part of the next generation, or a newcomer exploring opportunities in the region.

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The leading law firm in the Middle East & North Africa region.

Fares Abdullah

Associate

Biography

Fares as an associate within the Transport & Insurance department joining the team in 2021.

Prior to joining Al Tamimi & Company Fares obtained a 2:1 honours degree in Law (LLB) from the University of Reading in 2018. Following completion of his LLB Fares went on to successfully complete a LLM in International Shipping Law at Queen Mary University London in 2019 and later the Legal Practice Course at BPP University London in 2020

Recent Experience

Assisted in setting up a multi-layered corporate structure for a large ship-owning entity with a vast fleet in the oil trading and tanker sector. This involved creating several Special Purpose Vehicles (SPVs) for vessel ownership, with over 15 to 20 such entities incorporated. The tasks encompassed drafting, incorporation, and ensuring the functionality of these entities across various jurisdictions, including Singapore, the UAE, and other maritime locations
Played a pivotal role in high-value ship sale and purchase transactions, collectively surpassing USD 60 million. Offering guidance in vessel ownership structuring, vessel flagging, and registration
Worked with a significant regional ship-owning company on registering their fleet, essential for their long-term contracts with major oil companies. Also played a role in the preliminary stages of a vessel mortgage process
Strategically advised a prominent ship-owning company with an extensive fleet on a significant Joint Venture Agreement
Assisted in the acquisition of a €150 million superyacht for a client. This encompassed drafting and reviewing the sale agreement, overseeing corporate documentation, evaluating closing documents, conducting meetings with involved parties, and coordinating with EU attorneys for tax guidance
Assisted a client in a complex leaseback transaction, exploring solutions to potentially reacquire the vessel despite the client’s liquidation status and continuing bareboat charterparty obligations
Assisting a leading ship-owning company facing challenges from arbitrations initiated by an international entity. The ongoing cases are complex, and our team is focusing on providing a solid defense strategy
Engaged in a subrogated DIAC arbitration seated in London, valued over USD 10 million, stemming from the collapse of a rig
Demonstrated proficiency in arresting vessels and efficiently resolving maritime disputes at various stages. Successfully secured assets of companies involved in maritime debts, under local regulations or in support of international legal proceedings
Collaborated with team members on a significant case for a leading UAE bank, addressing defaults surpassing AED 115,000,000. Our team successfully arrested vessels in both UAE and India, secured a favorable judgment of over AED 126,0000,000, and are now overseeing vessel sales and enforcement measures