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.

The Singer & Friedlander Limited Pension and Life Assurance Scheme (the "Scheme") first came to general notice in relation to a case arguing whether the section 75 debt can be subject to a set off due to events after the time from which the relevant figures used in the calculation arose (read our article on Disputed section 75 debt claim).

In the November 2013 edition of Pensions Pieces we referred to the Olympic Airlines case where a UK pension scheme could not qualify for entry to the Pension Protection Fund ('the PPF') because its sponsoring employer was suffering main liquidation proceedings in Greece, and further insolvency proceedings could not be established to satisfy the current entry conditions

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