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United Arab Emirates
Al Rowaad Advocates & Legal Consultancy
The legislative framework for insolvency and bankruptcy in the United Arab Emirates is codified under the two following laws.
BSA Ahmad Bin Hezeem & Associates LLP
A criminal complaint takes precedence over a civil claim or "Le criminel tient le civil en l'état", is a legal principle with origins in the French Penal Procedures Law...
Mayer Brown
The active trading of loans made to a borrower that has become unable to repay in full (known as non-performing loans or distressed debt) has been a feature of the North American and European...
Al Rowaad Advocates & Legal Consultancy
The new federal decree-law no. 35 of 2021 amending the provisions of federal decree-law no. 9 of 2016 regarding bankruptcy and its amendments has been introduced in the United Arab Emirates...
BSA Ahmad Bin Hezeem & Associates LLP
All UAE business owners and managers should be aware of the very recent decision of the Dubai Court of First Instance in the matter of the Bankruptcy of Marka Holdings PJSC...
Mayer Brown
Article 201 of the UAE Bankruptcy Law also entitles a court to order imprisonment in certain circumstances, including where there has been a failure to share information with a bankruptcy trustee.
BSA Ahmad Bin Hezeem & Associates LLP
In the following series of articles, Barry Greenberg provides the reader with a comprehensive look at bankruptcy proceedings in the UAE, from beginning to end.
BSA Ahmad Bin Hezeem & Associates LLP
The rise in the number of companies facing severe financial distress is an unavoidable fact of today's economic market.
BSA Ahmad Bin Hezeem & Associates LLP
Certain enhanced protections of debtors under the UAE Bankruptcy Law – Federal Law No. 9 of 2016 – which were previously put into place on an emergency basis in response to the Covid pandemic, have now expired.
Al Rowaad Advocates & Legal Consultancy
It is important that you develop the habit of being aware of the relevance of your credit report and also develop a habit of regularly checking the same.
BSA Ahmad Bin Hezeem & Associates LLP
The legal and regulatory landscape is constantly evolving, meaning businesses have to remain agile in order to continue to progress.
BSA Ahmad Bin Hezeem & Associates LLP
Health Insurance is by far the largest line of risk along side motor insurance in the United Arab Emirates. Both lines of insurance are mandatory, save that health insurance is currently only...
Al Rowaad Advocates & Legal Consultancy
Financial liability in terms of multiple loans or credit cards is to be best handled by availing the option of a ‘Debt consolidation loan in UAE'. There are several banks in the UAE providing the...
Al Rowaad Advocates & Legal Consultancy
This article provides for the insolvency law for the companies who are facing losses and are opting for deceleration of insolvency during the pandemic. Covid -19 pandemic has not only disturbed...
Al Rowaad Advocates & Legal Consultancy
It is quite obvious that coronavirus has somewhat brought the economy to a halt for a certain time and the government across countries are trying every bit possible to revive it.
Al Rowaad Advocates & Legal Consultancy
Introduction of the Bankruptcy Law was a major step forward and was influenced by features of a number of insolvency law regimes in other jurisdictions, as well as international insolvency law trends.
Herbert Smith Freehills LLP
https://www.herbertsmithfreehills.com/latest-thinking/pressure-points-timely-amendments-to-uae-bankruptcy-law-introduced-to-cover
BSA Ahmad Bin Hezeem & Associates LLP
One such provision will revise the existing requirement that a debtor commences procedures to declare bankruptcy if in distress.
Worldwide
Mayer Brown
In a significant step for the recognition of English court judgments, the UAE Ministry of Justice has issued a communiqué to the Director General of the Dubai Courts confirming that judgments issued by the English Courts ...
BSA Ahmad Bin Hezeem & Associates LLP
The worldwide economic distress caused by the ongoing Covid-19 pandemic has certainly not spared the GCC region...
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