United Arab Emirates

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Hadef & Partners Legal Highlights

INTER PACIFIC BAR ASSOCIATION HOSTING THE IPBA MID-YEAR COMMITTEE MEETING Richard Briggs, Executive Partner, reflects on the annual midyear committee meeting which was held in Dubai. DISPUTE RESOLUTION UNWRITTEN DISTRIBUTION AGREEMENTS IN THE UAE ...

Resource Article - twallace@abiwor... - 01/29/2016 - 13:47 - 0 comments - 0 attachments

Falling Oil Prices Puts Small UAE Businesses At Risk Of Default

Banks facing a surge in defaults on small company loans are closing off credit to the sector in the United Arab Emirates, in a sign of the increasingly brittle business confidence in the Gulf amid a sustained slump in oil prices, the Financial Times ...

Daily Headline - global.abi.org - 11/16/2015 - 19:44 - 0 comments

Surge In SME Debt Defaults Exposes Flaws In UAE Insolvency Rules

A softening in the United Arab Emirates' economy has led to a surge in small and medium-sized businesses defaulting on debt, dragging on banks' performance and highlighting the need for a new bankruptcy law, Reuters reported. In a country where ...

Daily Headline - global.abi.org - 11/03/2015 - 20:27 - 0 comments

New Insolvency Law A Safety Net For SMEs, Banks

An impediment to private enterprise and a major risk for banks has been the lack of a viable insolvency law. Ironically, UAE, which is an important international financial and business hub, has functioned without effective insolvency laws, which hurt its ...

Daily Headline - global.abi.org - 10/18/2015 - 20:06 - 0 comments

UAE Insolvency Law to Follow U.S. Chapter 11

Fahad Al Raqbani, director general of Abu Dhabi Council for Economic Development, said that the long-awaited insolvency law in the United Arab Emirates is expected to contain provisions for corporate bankruptcy modeled on U.S. chapter 11 proceedings, T ...

Daily Headline - abi_admin - 09/15/2015 - 11:23 - 0 comments

Malaysia's 1MDB Denies Abu Dhabi's IPIC Pulling Out Of Debt Restructuring Plan

Malaysian state fund 1Malaysia Development Bhd said on Wednesday (Aug 26) that it strongly denies that Abu Dhabi's International Petroleum Investment Co (IPIC) is considering pulling out of a plan to help restructure 1MDB's debts. "We in f ...

Daily Headline - global.abi.org - 08/26/2015 - 19:40 - 0 comments

Dubai Realtor S&K Says Worsening Market Led To Bankruptcy

Dubai-based real estate agency S&K Estate Agents said a deteriorating property market in the emirate contributed to its decision to file for bankruptcy and be liquidated, Reuters reported. "Simply put, the revenue being generated by the business ...

Daily Headline - global.abi.org - 07/28/2015 - 19:21 - 0 comments

Drydocks World Taps Citibank To Advise On $2.3 Billion Debt

Drydocks World has called in the American financial group Citibank to help it refinance its US$2.3 billion of debt, The National reported. DDW, under the chairmanship of Abdulrahman Al Saleh, the director general of the Dubai Department of Finance, h ...

Daily Headline - global.abi.org - 07/12/2015 - 22:40 - 0 comments

UAE Moves Towards Enacting New Insolvency Law

The long-awaited new insolvency law has taken a big step towards becoming a reality after being approved by the Cabinet, The National reported. Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, said on his website that the proposed draft ...

Daily Headline - global.abi.org - 07/06/2015 - 17:51 - 0 comments

Drydocks World Creditors Anticipate Debt Restructuring Plans

Bank creditors to Drydocks World (DDW), Dubai’s maritime engineering business, are expecting to receive proposals from the government-owned company to restructure some of the US$2.3 billion debt it refinanced in 2012, The National reported. Recent ta ...

Daily Headline - global.abi.org - 06/28/2015 - 19:31 - 0 comments

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