Small and medium enterprises (SMEs) often face financial challenges in the UAE. One of the most daunting scenarios is insolvency. This article will give you an overview of the bankruptcy law in UAE and also debunk some misconceptions associated with it. What Is Insolvency? Insolvency refers to a situation where a company cannot fulfil its…
We have previously discussed the UAE Bankruptcy Law, which applies to commercial companies and traders. A separate law, the UAE Personal Insolvency Law (Federal Decree-Law No. 19 of 2019), deals with the insolvency of natural persons. The law aims to protect individuals facing financial difficulties and those who are unable to pay their debts. What…
The Resolution of the General Assembly of the Dubai Court of Cassation on Arrest Orders may prevent unnecessary arrests, leading to a new revenue stream for Accounting Experts and Asset Tracing Agencies. A recent clarification by the Dubai Court of Cassation on arrest orders has sought to strike a balance between the rights of creditors…
