UAE Bankruptcy Law Updates

Context Misconceptions persist among business owners and directors as to the purpose of the UAE Bankruptcy Law and its comparative likeness to international counterparts, notably the US Bankruptcy Code. All too often they mistakenly regard the regulations as a magic bullet which can make their financial problems disappear. They fail to appreciate the myriad drawbacks…

Money Matters

Starting your own business is one of the most exciting decisions you can take. But it is imperative to follow fundamental rules and keep certain key considerations in mind to avoid facing financial issues that may lead to bankruptcy. Here are five factors to keep in mind when managing your finances as a startup: 1.…

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…

Bankruptcy Proceedings in Oman

Although there is no separate bankruptcy law in Oman, both the Commercial Code of 1990 and the Commercial Companies Law of 1974 provide a framework for the bankruptcy of traders and liquidation of insolvent companies. Under the laws of Oman, bankruptcy of a person must be declared by the Court. Article 579 promulgates that, “Every…