On 31 October 2023, Federal Law No. 51 of 2023 Promulgating the Financial and Bankruptcy Law (the Bankruptcy Law) was published in the United Arab Emirates (UAE) Official Gazette, repealing the prior federal law on bankruptcy (Federal Law No. 9 of 2016, the Prior Law) and significantly developing the bankruptcy regime in the UAE.

In a High Court decision this week it was held that there is no general duty on a solicitor to check the credit status of the seller in a conveyancing transaction unless expressly instructed.

The judgment also provides a useful analysis of the extent to which a solicitor should advise a client regarding the risks of a particular transaction generally, not just in the context of conveyancing.  

Facts