Lailat al Bara'a is always remembered in the Muslim community, but for different and distinct reasons.
In the Sunni context, this is a night where Muslims worship Allah and seek refuge with Him. It is at this night that Allah decides the fate of all people living on Earth for the coming year. It is also called the Night of Emancipation.
From the Shiite point of view, this is the date of Al Imam al-Mahdi's birth. The Shiites believe that he will be the twelfth and last Imam of Shia. Apart from that, al-Mahdi is considered a key figure in Islam as Muslims believe that upon his arrival he will spread absolute justice in a world full of pure evil and that he will establish Islam as the world religion.