The New Bankruptcy Law – Stepping up to Challenges in a Post-pandemic Economy
Throughout the United Arab Emirates (UAE), a collective frustration existed with insolvencies due to the time-consuming nature and significantly low recovery rates, which stemmed from outmoded insolvency laws under Book 5, Article 645-900 of Federal…
How to Safely Close Down a Business in Mainland, UAE?
Introduction The two most prevalent routes that have been undertaken for liquidating a company are either ‘voluntary winding up’ specified under the Federal Law No. 2 of 2015 -The Commercial Company law (the “Companies Law”)…
Seven Things to Know About Filing a Bankruptcy Petition in the UAE
If your company is thinking of filing a bankruptcy petition under the relatively new bankruptcy law in the UAE (Federal Law Decree Law No. 9 of 2016), there are a few key things to keep…
Overview of the Bankruptcy Proceedings and Preventive Measures in the UAE
Definition of bankruptcy: Legally speaking, bankruptcy in the UAE is an expression used to describe a legal status in which a natural (individual) or legal (company) person owes a sum of money to third parties…
What You Need to Know Before Exiting the UAE
As the UAE continues to grow, expats continue to move here for a better life and better opportunities. Guidance is offered for expats who wish to start their own businesses in the UAE, and the…