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Akin Gump Strauss Hauer & Feld LLP
On 31 October 2023, Federal Law No. 51 of 2023 Promulgating the Financial and Bankruptcy Law (the Bankruptcy Law) was published in the United Arab Emirates (UAE) Official Gazette...
Al Tamimi & Company
On 31 October 2023, Federal Law Decree No. (51) of 2023 concerning Financial Restructuring and Bankruptcy (referred to as "New Law") was published in the UAE Federal Gazette.
Hamdan AlShamsi Lawyers & Legal Consultants
On 02/10/2023, law number 51 of 2023 was issued regarding financial restructuring and bankruptcy, to be implemented six months after its publication in the official gazette, taking effect in March 2024.
BSA Ahmad Bin Hezeem & Associates LLP
Senior associate, Bassel Boutros, recently spoke to Arabian Business about the new UAE Bankruptcy Law, providing further details on the major changes set to take effect in May 2024.
Crowe
The Dubai International Financial Centre (the 'DIFC') is a federal financial free zone which has been granted authority to self-legislate in civil and commercial areas.
Awatif Mohammad Shoqi Advocates & Legal Consultancy
In any dynamic economy, financial challenges can arise, leading individuals and businesses to face insolvency.
BSA Ahmad Bin Hezeem & Associates LLP
A new Federal Decree-Law No. 51/2023 on issuing Financial Reorganization and Bankruptcy Law has been published in the official Gazette on 31st of October 2023...
Awatif Mohammad Shoqi Advocates & Legal Consultancy
In Dubai civil cases, if someone proves they cannot pay what the court ordered, they will normally avoid facing an arrest warrant, the emirate's highest judicial body has said.
Awatif Mohammad Shoqi Advocates & Legal Consultancy
Dissolution, or liquidation, of a company, is the process through which the company and its operations are brought to an end.
Awatif Mohammad Shoqi 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...
Awatif Mohammad Shoqi 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.
Awatif Mohammad Shoqi 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.
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 ...
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