« Back to Glossary Index
Bankruptcy is a legal process that allows an insolvent company or individual to restructure or liquidate their assets to repay debts under court supervision. In the UAE, bankruptcy is governed by Federal Decree-Law No. 9 of 2016 on Bankruptcy, which applies to companies regulated under the UAE Commercial Companies Law, as well as free zone entities (except DIFC and ADGM, which have their own insolvency laws). The law offers mechanisms like preventive composition, restructuring, and liquidation to help businesses settle debts while protecting creditors’ rights. Given the UAE’s strong financial regulations, bankruptcy proceedings require strict compliance with legal provisions to avoid criminal liability for fraudulent financial practices.
« Back to Main Glossary Disclaimer
The opinions expressed in this blog are those of the respective authors. ATB Legal does not endorse these opinions. While we make every effort to ensure the factual accuracy of the information provided in our blogs, inaccuracies may occur due to changes in the legislative landscape or human errors. It is important to note that ATB Legal does not assume any responsibility for actions taken based on the information presented in these blogs. We strongly recommend taking professional advise to ensure the best possible solution for your individual circumstances.
About ATB Legal
ATB Legal is a full-service legal consultancy in the UAE providing services in dispute resolution (DIFC Courts, ADGM Courts, mainland litigation management and Arbitrations), corporate and commercial matters, IP, business set up and UAE taxation. We also have a personal law department providing advice on marriage, divorce and wills & estate planning for expats.
Please feel free to reach out to us at office@atblegal.com for a non-obligatory initial consultation.
