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JASON HUF INTERNATIONAL, pc

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& NEW JERSEY

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+1 (646) 470-2729

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In JEDDAH, SAUDI ARABIA
& Other GCC Jurisdictions:


Khalil Khazindar Law Firm
in Association with
JASON HUF INTERNATIONAL pc
Ammar Commercial Center

Al Murjan Street (off of King Abdul Aziz Street), Office # 202
P.O. Box 157,  Jeddah  21411
Kingdom of Saudi Arabia
+966 (2) 4204763 (p)
+966 (2) 4204729 (f)
www.khazindarlaw.com
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info@huflaw.com

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  • K.A.E.C. (Pronounced "Cake")

    For reasons both personal and professional, 2019 has been an extraordinary year so far.  Thus, the lack of recent blog postings.  I have not disappeared, though.  I have just been out and about.

    One interesting item I am happy to share is my participation in a roundtable featuring officials from Saudi Arabia (KSA), representing King Abdullah's Economic City (KAEC, pronounced "cake") and discussing KAEC's efforts to attract greater investment by the pharmaceutical industry.

    Sultan Masoom, KSA ECA & Jason Huf, JHI, KAEC Pharma & BioTech Roundtable, New Brunswick, NJ, USA (Sultan Masoom, Director General of Investments, Saudi Arabian           
                                                           Economic Cities Authority & Jason Huf - not an endorsement of JHI)

    "Localize Your Business in the Middle East" (a theme very near and dear to my professional heart for years) was staged for the benefit of the Pharma and BioTech industries in New Brunswick, New Jersey on a very humid July 18.  As a US-based attorney with an office in Jeddah, Saudi Arabia, I was honored to be the only lawyer admitted to this rather exclusive gathering.

    To summarize the discussion with the Saudi delegation and American industry leaders:  by establishing research, development and manufacturing in the expansive facilties housed in KAEC's Industrial Valley district, Pharmaceutical and Bio Tech companies may significantly reduce costs.  They would also be able to avail themselves of distribution via King Abdullah Port.  Set to become the second-largest port in the world (as measured by container capacity), KAEC's King Abdullah Port is well-situated to distribute products to East Africa, India and South East Asia.

    Consensus among the participants was that new drugs approved by the US FDA and/ or European authorities would be likely be approved by the regulatory authorities in the Kingdom for sale there (and, possibly, to the smaller Gulf states via the Gulf Cooperation Council regime), and that further research and development would be encouraged.  And, Intellectual Property protections in Saudi Arabia have been strengthened in recent years.

    On the subject of entity establishment, much can be done online, and a government office has been established to assist with bureacratic snags that may sometimes be encountered with the Saudi Arabian General Investment Authority during the licensing process (and other matters, such as obtaining the necessary permits and visas for resident laborers and business travellers).

    And, of course, JHI stands ready to assist with entity establishment matters in the KSA as well.

    The net effect of reduced costs and greater access to large markets with high demand, such as India, could be to bring down the price of cutting-edge, life-saving drugs (particularly those not always covered by insurance), making them more generally available (economically) right here in the United States.

    There are days when I could not be more enthusiastic about what I do for a living.  July 18, 2019 was one of them.


     - Jason Huf
    Saturday, November 2, 2019

    New Jersey, USA
  • New Jersey Senate Passes International Arbitration Bill

    The New Jersey (NJ) Senate, by unanimous vote, has passed Senate Bill 602, the "New Jersey International Arbitration, Mediation and Conciliation Act", sponsored by Senate Minority Leader Thomas H. Kean, Jr.

    A step in the right direction, if this bill becomes law as presently written, it would empower public research universities in the state to establish centers for arbitration and mediation, with such centers providing their own procedural rules.

    Parties having a qualifying dispute would chose their own substantive law (with NJ law serving as the “gap filler”) and would be able opt into such a center’s procedural rules or any other set of procedural rules the parties agree to choose.

    A qualifying dispute would be one in which one or more of the parties is a non-US resident (individual or corporate) as defined by the bill, or when the property or other asset(s) in controversy are located outside of the United States, or when the underlying business relationship significantly concerns some foreign jurisdiction.  Domestic commercial disputes may also be arbitrated or mediated at such a center, provided the parties expressly agree to avail themselves of such a facility in the dispute resolution clause of the underlying contract.

    Parties who elect to have their dispute heard before a panel or tribunal housed by an arbitration center in NJ would have to fully fund a bond equal to the amount of their exposure in the controversy.  Additionally, the parties would be deemed to have voluntarily submitted themselves to the (in personam) jurisdiction of the courts of New Jersey upon the execution of their agreement to arbitrate in the state, but only to the extent required by the arbitration and enforcement its resulting decision.

    Having been passed by the NJ Senate, the bill now moves to the relevant committee of the NJ General Assembly.

    JHI will continue to track this legislation.