United Arab Emirates
Results for United Arab Emirates
- Creditor Sale Brings Dubai's Limitless To Brink Of Debt Plan Deal
Dubai-based property developer Limitless is set to complete a drawn-out debt restructuring after the final dissenting creditor sold its share of the company's 4.45 billion dirhams ($1.2 billion) debt, sources with knowledge of the matter said on Wed ...
Daily Headline - global.abi.org - 04/20/2016 - 21:59 - 0 comments
- Abu Dhabi Fund Says It Never Received Payments From Malaysia’s 1MDB
An Abu Dhabi state fund said publicly for the first time on Monday that it hadn’t received billions of dollars in payments that a controversial Malaysian fund set up by Prime Minister Najib Razak claims it sent, The Wall Street Journal reported. The ...
Daily Headline - global.abi.org - 04/11/2016 - 22:11 - 0 comments
- UAE Conglomerate Al Jaber Misses Payment On $4.5 Billion Restructured Debt
Al Jaber Group missed a March repayment on its $4.5 billion restructuring, three sources aware of the matter told Reuters on Tuesday, adding pressure on the Abu Dhabi-based conglomerate to quickly secure a new debt deal to save it from collapse. The fami ...
Daily Headline - global.abi.org - 04/05/2016 - 21:17 - 0 comments
- UAE Banks Agree "Mini Insolvency Law" To Help Struggling SMEs
Banks in the United Arab Emirates will suspend legal action against small and medium sized enterprises (SMEs) struggling to repay debt for up to three months to prevent a surge in defaults that may jeopardise the economy, Reuters reported. The initiative ...
Daily Headline - global.abi.org - 03/28/2016 - 20:43 - 0 comments
- 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 - 14:47 - 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 - 20:44 - 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 - 21:27 - 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 - 21:06 - 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 - 12:23 - 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 - 20:40 - 0 comments