Introduction:

After discussing the provisions of Compulsory Liquidation stipulated in the Qatari Commercial Companies Law (CCL) in our former article, it is of a great importance to introduce the reader to the concept of Voluntary Liquidation of Commercial Companies. Going through the Qatari (CCL), a brief overview of the Voluntary Liquidation process provisions will be delivered in this article.

What is Voluntary Liquidation?

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Firm:

Thomas Williams, Ahmed Durrani and Umang Singh, Sultan Al-Abdulla & Partners

This is an extract from the 2020 edition of GAR’s Middle Eastern and African Arbitration Review . The whole publication is available here

Introduction

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The GCC Quarterly Review briefly summarises a selection of the major developments in the laws of the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) in the third quarter of 2018, with links to further reading, where available.

Important revisions to the insolvency legislation in the Qatar Financial Centre ("QFC") came into effect on 22 December 2013.

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Bankruptcy is a judicial method for the collective execution of the moneys of a debtor merchant who has ceased to pay his debts. The purpose of bankruptcy is to liquidate and sell the debtor’s money in order to distribute its proceeds to the creditors on the basis of the apportionment of administrators and deprivation of the debtor of the management or disposition of his assets throughout the period of bankruptcy.

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