UAE Bankruptcy Law

UAE Bankruptcy Law Amendments: Directors’ and Managers’ Personal Liability

UAE Bankruptcy Law Amendments The UAE Federal Decree-Law No. 9 of 2016, known as the Bankruptcy Law, has been amended pursuant to Federal Decree-Law No. 35 of 2021, to clarify the circumstances under which a debtor’s directors and managers may be held personally liable for the company’s debts if they cannot be repaid. Bankruptcy Law…

BSA & Dubai Chamber Host Bankruptcy Workshop

Dubai Chamber of Commerce and Industry recently organised a workshop in collaboration with BSA Ahmad Bin Hezeem & Associates LLP which provided valuable information about the UAE Bankruptcy Law and its impact on both debtors and creditors in the country. The sessions led by BSA Ahmad Bin Hezeem & Associates LLP, briefed participants on various…

Commentary on the Saudi Arabian Bankruptcy Law

The Saudi Arabian Bankruptcy Law complies with the best international practices and gives Saudi Arabia a legal infrastructure to deal efficiently with companies that get into financial difficulties, paving the way to achieving financial stability while simultaneously benefiting both creditors and debtors.  The article discusses preventative settlement, financial reorganization and restructuring, liquidation process, as well…