Bankruptcy Archives - Fichte & Co Legal Legal Firm in Dubai Wed, 06 Sep 2023 08:51:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://fichtelegal.arraytag.com/wp-content/uploads/2022/01/cropped-Favicon-32x32.png Bankruptcy Archives - Fichte & Co Legal 32 32 UAE Ministry on New Specific Legislation of Insolvency of Natural Persons https://fichtelegal.arraytag.com/uae-new-insolvency-law/?utm_source=rss&utm_medium=rss&utm_campaign=uae-new-insolvency-law Sun, 12 Jan 2020 04:10:15 +0000 https://fichtelegal.arraytag.com/uae-new-insolvency-law/ This Decree-Law on the Insolvency of Natural Persons which has been issued on 29 August 2019 and supposed to come into effect in the beginning of 2020, aims at enhancing the competitiveness of the UAE by ensuring the ease of doing business, creating favourable conditions for individuals facing financial difficulties and protecting those who are …

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]]> Overview of the Bankruptcy Proceedings and Preventive Measures in the UAE https://fichtelegal.arraytag.com/bankruptcy-proceedings-preventive-measures-in-uae/?utm_source=rss&utm_medium=rss&utm_campaign=bankruptcy-proceedings-preventive-measures-in-uae Tue, 31 Jul 2018 06:51:53 +0000 https://fichtelegal.arraytag.com/bankruptcy-proceedings-preventive-measures-in-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 and ceases to pay its debts when they fall due because of its troubled financial position and insolvency. Historical background: …

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]]> Rescue And Revive: The New Bankruptcy Law in the UAE https://fichtelegal.arraytag.com/the-new-bankruptcy-law-uae/?utm_source=rss&utm_medium=rss&utm_campaign=the-new-bankruptcy-law-uae Wed, 08 Mar 2017 03:00:48 +0000 https://fichtelegal.arraytag.com/the-new-bankruptcy-law-uae/ The much awaited new bankruptcy law in the UAE is a complete legal framework meant to assist financially troubled companies to avoid collapse. It took effect on December 29, 2016 after being decreed by President Sheikh Khalifa. It is part of the global wave of insolvency reform referred to as the “rescue culture” and has …

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