Dubai currently has no effective insolvency law. Try to imagine it: How would creditors recover their entitlements? Does it lead to more arbitration activity? Does it explain why the Dubai International Arbitration Centre received more than 300 new cases last year and why arbitration is increasingly used?
Insolvency Law—Is It Necessary?
United Arab Emirates, Arbitration & ADR, Insolvency & Restructuring, Mayer Brown, Bankruptcy, Margin (finance), Debt, Liability (financial accounting), Intangible asset, International Bar Association
Summary
The joint administrators of Lehman Brothers International (Europe) (“LBIE”) have released their second statutory six month progress report for the period 15 March 2008 to 14 September 2009 (the “Report”).
A full copy of the Report is attached, which includes detail about the positions realised and expenses to date. Key points of interest are as follows:
European Union, Insolvency & Restructuring, Mayer Brown, Unsecured debt, Dividends, Interest, Lehman Brothers, High Court of Justice (England & Wales)