Top 10 Transport Headlines from Offshore A discussion on the ways of handling disputes in the UAE. The ruling of the English Court of Appeal in The Princess of the Stars that a "follow the settlements" clause in a reinsurance policy does not negate or impinge on the general rule that a stay of English court proceedings, should be granted only in rare and compelling circumstances. A new system for registering security over aircraft and aircraft engines recently came into force in the BVI. Rapid urbanisation and economic growth are placing ever increasing demands on road networks in the Middle East and there is growing acknowledgement in the Gulf Cooperative Council (GCC) on the need for infrastructure investment to ease traffic congestion. The Department of Merchant Shipping recently announced that with effect from the 2012 tax year, all owners of foreign ships, charterers and ship managers participating in the tonnage tax system must submit a declaration by their legal representative or auditor in the prescribed form, together with their tonnage tax declaration. The Bahamas ship register is the flag of choice for many top quality ship owners. Dillon Eustace is a leading law firm focusing on financial services, banking and capital markets, insurance regulation, corporate and M&A, insolvency, litigation and dispute resolution, real estate and taxation. The Maltese VAT Authorities have recently issued Guidelines relating to VAT Aircraft Leasing arrangements concerning privately operated aircraft. A pleasure yacht can be registered under the Malta flag provided that it is wholly owned by either citizens of Malta or European citizens or bodies corporate established under the subjects of the Laws of Malta or Foreign corporate bodies or entities, in accordance with Merchant Shipping Act and the relevant subsidiary legislation. A recent decision of the Supreme Court in its first instance admiralty jurisdiction gives valuable insight into the court's approach to applications for the arrest of vessels and for security to be lodged with the court for the release of the vessel. | 
