Law Firm ILN-telligence Podcast | Episode 74: Ziad Salloum, Salloum & Partners, United Arab Emirates
The continued growth and diversification of the regional economies, coupled with significant advancements in the legal frameworks, have made the United Arab Emirates and the Kingdom of Saudi Arabia increasingly attractive...more
The Gulf Cooperation Council region (the GCC) is becoming an ever-more important destination for the global private credit market. In this client briefing we explore the region’s rising prominence as a key destination for...more
Defaulting on a bank loan in the UAE is regulated by the Commercial Code (federal decree-law No. (50) of 2022) and the Civil Procedure Law (federal decree-law No. (42) of 2022). Further, the Central Bank of UAE issued Loan...more
Private Credit is a hot – if not the hottest – asset class right now. This asset class has a nexus to a number of Cadwalader’s practices from fund finance to capital markets and beyond. To that end, last week we attended the...more
Running a business involves taking risks in order to continue to scale new grounds. Sometimes, these risks may not be successful, leading to debts. Even without risks, debts may be incurred as a result of not being able to...more
In a reversal of its decision in Sandra Holding v Al Saleh [2023] DIFC CA 003, the DIFC Court of Appeal has confirmed in Carmon Reestrutura-Engenharia e Servicos Tecnios Especiais , (SU) LDA v Antonio Joao Catete Lopes Cuenda...more
The liquidation of a company is a pivotal process governed by legal regulations in the UAE. Understanding the intricacies of liquidation proceedings is essential for stakeholders involved in company dissolution. Federal...more
As creditors continue to look across the global market for strategic opportunities, the United Arab Emirates (the "UAE") is primed to emerge as a relatively untapped well of potential for private credit providers....more
On 31 October 2023, Federal Law Decree No. (51) concerning Financial Restructuring and Bankruptcy (the New Law) was published in the UAE Federal Gazette. The New Law comes into force on 1 May 2024 and will repeal the 2016 Law...more
Introduction: In any dynamic economy, financial challenges can arise, leading individuals and businesses to face insolvency. To address these situations and provide a structured outline for resolving them, the UAE enacted...more
The Payment Order process is intended to provide an expedited way of obtaining a judgment for payment in straightforward debt cases and helps creditors seek relief in a timely and cost effective manner. Recent changes to...more
On 20 September 2016, the new Bankruptcy Law (the Law) for the UAE was enacted. The Law was gazetted on 29 September 2016 and comes into effect on 31 December 2016. The Law will be supplemented by procedural regulations to be...more