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…

Fines, jail for rogue driving in Oman.

Driving instructors who fail to honour contracts with learners could be fined up to OMR2,000 and put behind bars for a year, the Public Prosecution in Oman has warned. The message to stop breaking contracts with learners comes after a Times of Oman story revealing that many in the Sultanate had lost money to rogue…