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.

Arbitral awards benefit from being widely enforceable. This is the case particularly in jurisdictions that are members of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 10 June 1958 (New York Convention). Recognition and enforcement of a foreign arbitral award under the New York Convention is rejected only on narrow grounds (Article V). There is, however, an additional ground for an award to become unenforceable in a specific jurisdiction that is often overlooked: limitation periods.