Law Firm ILN-telligence Podcast | Episode 74: Ziad Salloum, Salloum & Partners, United Arab Emirates
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 commercial transactions, the process of recovering debts owed by companies may sometimes necessitate legal intervention. Under Federal Decree-Law No. 42/2022 on Civil Procedure Law, specific procedures are outlined for the...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
The recent detention of a restructuring professional in the United Arab Emirates serves as a stark reminder that directors and officers of insolvent or distressed companies can face personal liability for their actions or...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 Dubai International Financial Centre (DIFC) is a prestigious financial free zone in the United Arab Emirates (UAE), established to diversify Dubai's economic resources and attract capital and investments to the region....more
In a development which will be of interest to those in the restructuring community, the UAE’s Financial Reorganization Committee (the FRC) has codified, via an Approved Guide1, the steps that insolvency practitioners will...more
NMC Health plc (NMC Health) made news around the globe in December 2019 when it was the subject of a Muddy Waters report which alleged various bad acts had been carried out by the company. NMC Health was subsequently placed...more
This alert focuses on the position for onshore businesses in the UAE as well as in the Dubai International Financial Centre (the “DIFC”) and the Abu Dhabi Global Market (the “ADGM”) free zones.It sets out the measures being...more
Understanding bankruptcy laws in the UAE and DIFC in the context of COVID-19-related financial pressures. COVID-19 has already caused wide-scale disruption to numerous industries both locally and globally. Whilst efforts...more
On 13 June 2019, the much anticipated DIFC Insolvency Law No. 1 of 2019 and associated DIFC Insolvency Regulations 2019 (collectively the “2019 DIFC Insolvency Law”), came into full force and effect, replacing the DIFC...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
Welcome to the Summer 2015 issue of measure, King & Spalding’s Middle East quarterly newsletter. This issue covers a number of areas with interesting developments and valuable guidance. Phillip Sacks and Jodi Norman discuss...more