The DIFC Insolvency Law: A First-Of-Its-Kind Procedure for Insolvency in Accordance with International Best Practice

An Overview In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued the Dubai International Financial Center (DIFC) Act No. 1 of 2019 on Insolvency (hereinafter referred to as the “New Law”). The New Law reaffirms the commitment of the…