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.
Greylag Goose Leasing 1410 Designated Activity Company v P.T. Garuda Indonesia Ltd
In a decision that appears to be the first of its kind, the NSW Court of Appeal has found that a national airline should be afforded foreign State immunity against a winding up application.
Key points:
Australia, Aviation, Insolvency & Restructuring, Litigation, Gilbert + Tobin, Corporations Act 2001 (Australia), Foreign States Immunities Act 1985 (Australia), New South Wales Court of Appeal