An Introduction To Bankruptcy In The UAE

The UAE Bankruptcy Law is viewed as an improvement over the prior insolvency laws (as outlined in the Commercial Transactions Law), insofar as the Bankruptcy Law: 1. allows companies in financial difficulty the opportunity to reorganize their affairs in order to remain viable; 2. or in the absence of the ability to remain viable, allows…

Down With The Details

Earlier this year Saudi Arabia issued a historic new Bankruptcy Law (Saudi Arabia Royal Decree No. M5/1439 and Saudi Arabia Cabinet Decision No. 264/1439), the Kingdom’s Council of Ministers has adopted the new law’s Implementing Regulations in Saudi Arabia Cabinet Decision No. 622/1439 which was published in the Official Gazette, Issue 4744 on September 4,…