United Arab Emirates

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UAE Government Working On Personal Insolvency Law

Obaid Humaid Al Tayer, the Minister of State for Financial Affairs, said on Tuesday that the government is working on a new personal insolvency law that would apply to individuals. His comments follow the news that the UAE’s new bankruptcy law, which pro ...

Daily Headline - global.abi.org - 09/06/2016 - 23:02 - 0 comments

UAE Bankruptcy Law May Be Finalised By End-2016

The United Arab Emirates may finalise a long-pending bankruptcy law by the end of this year, the economy minister said on Wednesday, a move that could help smaller companies in particular as the economy slows because of low oil prices, Reuters reported. ...

Daily Headline - global.abi.org - 08/31/2016 - 20:34 - 0 comments

Dubai's Nakheel Says Has Finished $16 Billion Recovery From Crisis

State-owned property developer Nakheel, which was at the centre of Dubai's debt crisis in 2009, has finished recovering from a $16 billion debt restructuring by repaying an Islamic bond this month, its chairman said on Monday, Reuters reported. Ali ...

Daily Headline - global.abi.org - 08/22/2016 - 19:40 - 0 comments

Dubai Firm With Alleged Links To Quinns Can Be Sued Here

A Dubai-based firm has failed to get a Supreme Court order aimed at preventing it being sued here over its acquisition of a multi-million euro property in India from companies controlled by members of the family of businessman Sean Quinn, the Irish Tim ...

Daily Headline - global.abi.org - 07/28/2016 - 22:53 - 0 comments

Dubai Businesses Feel Squeeze As Economic Downturn Bites

A large GMC 4x4 sits with deflated tyres. Like the Range Rovers and Camaro GT parked nearby, it is covered in a thick layer of sandy dust — one of more than 30 apparently abandoned cars lining the bays of a floor of a multistorey car park at Dubai airpor ...

Daily Headline - global.abi.org - 07/25/2016 - 22:11 - 0 comments

Hadef & Partners Legal Highlights

JUNE 2016 UAE legal analysis, insights and news brought to you by Hadef & Partners. Read more. (United Arab Emirates) bankruptcy,insolvency,headlines,articles,legislatives,debt,resources,insol,United Arab Emirates ...

Resource Article - twallace@abiwor... - 06/29/2016 - 10:51 - 0 comments - 0 attachments

Dubai Firm Asks Supreme Court To Prevent It Being Sued Over Quinn Indian Deal

A Dubai-based firm has urged the Supreme Court to prevent it being sued here over its acquisition of a multi-million euro property in India from companies controlled by members of the family of businessman Sean Quinn, the Irish Times reported. Irish ...

Daily Headline - global.abi.org - 06/09/2016 - 22:19 - 0 comments

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

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