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Insolvency in the UAE

January 18, 2024
UAE Set to Introduce Dedicated Bankruptcy Courts for Adjudicating Cases

UAE Bankruptcy Court according to the Federal Decree-Law No. 51/2023 comes into effect on May 1 Eliminates the need for distinct enforcement proceedings initiated by creditors Preventive Settlement mechanism replaces the Bankruptcy Preventive Composition In a significant stride towards enhancing the legal framework for financial restructuring and insolvency in the United Arab Emirates (UAE), the...

March 4, 2021
DIFC Launches Public Consultation for the Proposed Employment Law, Data Protection Law and Insolvency Law Amendment

Dubai International Financial Centre (DIFC) has proposed amendments for providing an appropriate regulatory environment for businesses to operate in or from the Centre. Various legislative proposals seek public comments, such as Amendments to the Employment Law Amendments to provide clarity on Qualifying Scheme regime; Amendments to the basic workplace health and safety requirements to include...

January 14, 2021
Arabtec appoints Advisors for selling its Subsidiaries during Liquidation Process

Arabtec, Dubai-based construction major, hired de Novo Corporate Advisors and Lumina Capital Advisers to secure maximum value for subsidiaries including Target Engineering and Arabtec Engineering Services (AES). The company assured the creditors that they would try their level best to protect the value of the liquidation assets. The company is ready to implement all possible...

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