United Arab Emirates
Results for United Arab Emirates
- 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
- Hadef & Partners Legal Highlights
35 YEARS LEADING THE UAE LEGAL PROFESSION Just as the UAE has grown and developed since its formation in 1971, so have we. This year Hadef & Partners celebrates 35 years since its formation. In this our first newsletter of 2015, we would like to ex ...
Resource Article - twallace@abiwor... - 04/06/2015 - 07:43 - 0 comments - 0 attachments